Look, this initial news is the very best it could be at this state. its identical to the Pantheon Resources initial Theta West news. The only difference is here that PANR claimed to have "hydrocarbon indications" - gas shows in other words - and could state"oil' as they had Batker Hughes VAS doing samples along the way.
Had PANR not had VAS their initial news release would have read exactly the same as 88E today.
https://www.investegate.co.uk/pantheon-resources--panr-/rns/theta-west--1-operational-update/202202150700067050B/
88E does not have VAS services.....so they must do wireline logging to test samples to confirm oil.
The differences are :
PANR claims "hydro indications" - 88E has claimed the same "hydrocarbon indications".
PANR failed with wireline - 88E is proceeeding to wireline.
PANR claimed oil based solely on VAS results - 88E has no VAS so much wait for wireline sampling.
People with a bit of oil intelligence and knowledge can see that and are buying. Those who have no clue for sure are selling, and they will probably be cyring into their beer on the next news of "commercially recoverable oil" next week imo.
Look, this initial news is the very best it could be at this...
Add 88E (ASX) to my watchlist
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Mkt cap ! $86.67M | |||
| Open | High | Low | Value | Volume |
| 0.3¢ | 0.4¢ | 0.3¢ | $110.5K | 36.10M |
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| No. | Vol. | Price($) |
|---|---|---|
| 536 | 676750618 | 0.3¢ |
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| Price($) | Vol. | No. |
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| 0.4¢ | 287535477 | 79 |
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| Last trade - 16.10pm 02/05/2024 (20 minute delay) ? |
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| Last updated 15.58pm 02/05/2024 ? | |||||
| 88E (ASX) Chart |