Hi All,
For those who don't know me. I am an expert at reading markets and reading behavior on the stock market. I have been reading these forums since I was told about the stock at 0.02c and eventually bought in at 0.025c.
There is a lot people saying WOW! in this forum but in reality this is to be expected.
Lets look at some facts and some hypothetical conclusions with our (88E CEO hats on) and see for yourself.
Facts:
1. Overnight EEENF reached 0.059 AUD (Even if all you wanted to do was exchange US to AUD this current price was expected).
This is happening regularly and this pattern is not influenced by the ASX.
The ASX has just been catching up for some time now and has been like clockwork.
EEENF is truely driving this momentum.IMO no one on this forum has the trading volume to influence EEENF from what I have seen so far so don't be concerned about up and down ramping influence here. Its negligible based on the volumes we see.
2. This stock is getting a lot of attention world wide.
Just google 88E news, EEENF news or any variations and you'll see people are interested.
Not just in small financial columns or blogs. This is happening in mainstream financial journals and articles by respected journalists.
If they thought this was a scam they would not put their name to it. You will also notice they took 24-48hrs to release their findings because they are trusted by the public to research the findings, and report on them. Otherwise they would cease to exist.
3. All the news so far is either positive or optimistic.
No mainstream news contradicts this, so obviously we expect an influx of buyers regardless, hence price should rise now and until Thursday arvo.
The only ones contradicting this are people who have sold, down ramp or who have been burnt in the past.
No one has come out and said "these are the results..... this is bad".
4. A sizable investment of shares was taken by the drillers of this operation, not as payment for services rendered, but purchased.
Read the wording carefully you'll see there is a big difference.
This is not a "We have no money to pay you take shares" ... or a "would you like shares instead"... scenario.
This is a "here is your money as usual, whats that? you want to buy shares. Ok sure but we unfortunately have to announce this as per ASX trading regulations" scenario.
You can guarantee their friends, family and others are buying outside of these declarations.
This has not gone unnoticed by investors
5. Others in the industry have stated it shouldn't take this long to confirm results like these. Google it. there is a massive WHY? floating around in regards to the timing and the Easter break dates set. Ill get to this fact later.
6. Look at the results of the testing done so far. Analysis has been done. Google what the analysis shows.
These results cannot be fabricated (without jail time) but they can be either down played or over stated.
Read on to see my opinion and I would love others to continue this discussion on what should happen either way based on down playing or over selling.
Hypothetical Over Selling Results:
Lets assume for 1 sec these results are being over sold because they know the results are poor and they overstated them to keep the price high.
The big issue is WHY?! To get out with profit.
The following will occur:
1. All in the know will sell any stock they have available BEFORE next announcement.
2. Everyone they told to invest will do the same (friends, family etc)
3. They will not do this on Thursday afternoon because it will cause a mass panic, and lower overall sale price for them.
4. They would be doing this NOW! and would have been doing this already.
5. This has not yet happened.
Therefore I am happy to say this hypothetical is UNLIKELY and poorly organised by those in the know if true.
Hypothetical Under Stated:
Lets assume for a sec that these results are being down played to appear as though they are weak or moderate when they know the results are fantastic.
The big issue again is WHY?! To get in cheap
The following will then occur:
1. It will take time for themselves, their friends and family to raise the capital they need to buy in before the next announcement.
2. This time is spent selling other stocks, assets, property etc and requires on their part a delay in further announcements so that they can actually get in beforehand.
3. They cant make up a B***s*** story for any delayed announcements (without jail time) while they get funds together. They need a legitimate delay.
4. You will see quiet, unannounced, heavy buy ins so as to not cause a massive buy up.
5. Anyone who has to declare their interests to the ASX to buy stocks will resign or remove their legal obligations first. Or they will buy in just prior, when the market has already closed, and the announcement made just after the real announcement and be made out as a simultaneous announcement and buy in, when it wasn't. What better way to do this than to do it on a public holiday.
6. You will not see any negative announcements or contrary evidence to their findings, even if they wanted to, because there simply isn't any.
7. The oil production company eyeing off this exploration company will also want to down play these results so they can buyout this company and this would happen now. As a result everytime you see a dip, or lul, they will buy a percentage so they dont have to buy out the stock at higher prices after the announcement.
Therefore I am happy to conclude this hypothetical is LIKELY and played out exactly how it should by those in the know.
Make up your own mind on which hypothetical we are living in right now.
I feel sorry for those who have sold already, and those who wont rebuy before thursday arvo.
I will be buying more each and every time the price dips so I do feel somewhat sick about even posting this but I couldn't go on in good conscience without pointing out the obvious.
Of course IMHO and DYOR I couldnt have made it easier for you to fact check.
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