Ann: Quarterly Activities Report & Cashflow, page-13

Whilst I know as little as possible about company valuation.
based on the current situation the company is in, an sp of 0.6 cents and mc of 54m does seem over valued.

Can’t imagine any majors would come and take over 88e and pay 54 million.

88e has 4m cash and a whole lot of frozen remote acreage plus a board that hasn’t got any workable plan to do much with the land.
Apparently the next big expected announcement is about FO, I think by the time this happens (if it ever happens) there’d be no cash left.

An sp of 0.2 cents is more justifiable, as it would convey the sense of it hasn’t completely hit rock bottom but it’s at the same time shows it still has a heart beat.

I believe the current sp of 0.6 cents doesn’t have much to do with the future/ long term potential of the company but more to do with idea of holding purely for short term trading.