Malmanu has a very fair point. Shale developments are expensive and will need a high oil price to justify. Not just drilling depth but also the number of wells required. The Saudis are busy trying to break the whole business model. (BTW I am a 20 year oil industry professional).
That said, it does appear that 88E are on track to delineate a very valuable future petroleum province and the rerating of the share price is very real. I hold and will be buying more at an appropriate time.
Those prepared to play the long patient game will be well rewarded.
Target share price today, page-178
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Last
0.3¢ |
Change
0.001(25.0%) |
Mkt cap ! $72.33M | |||
| Open | High | Low | Value | Volume |
| 0.2¢ | 0.3¢ | 0.2¢ | $5.805K | 2.894M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 93 | 109415193 | 0.2¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.3¢ | 565713746 | 228 |
View Market Depth
| Last trade - 15.43pm 30/09/2024 (20 minute delay) ? |
| 88E (ASX) Chart |