I would say it does for short term day traders that are seeking to make a quick 10-20% profit.
Medium to long term in 88E's case you have to consider the current market cap of $126m vs a potential billion+ barrel discovery.
The recent report states -
Forward Plan The Icewine #1 post drill evaluation is ongoing with final integrated results expected early Q2 2016. The Company is currently finalising planning and funding for a seismic shoot, scheduled for commencement in March 2016. Additionally, planning has commenced for the drilling of a follow up well to Icewine#1, which is likely to be a horizontal well with a multi-stage fracture stimulation. Based on the results from Icewine#1, an updated Independent Resource Report has been commissioned, scheduled for completion in April 2016. The Company, on behalf of the Joint Venture, has also commenced a farm-out process for Project Icewine #1.
If it all goes well, 7.5 cents is a bargain, it all depends on the value of the announcements in the coming months and it's relation to the market cap at that time.
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Last
0.1¢ |
Change
-0.001(50.0%) |
Mkt cap ! $28.93M |
Open | High | Low | Value | Volume |
0.2¢ | 0.3¢ | 0.1¢ | $199.0K | 99.54M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
324 | 1147945493 | 0.1¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
0.3¢ | 601285123 | 228 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
312 | 1106650493 | 0.001 |
0 | 0 | 0.000 |
0 | 0 | 0.000 |
0 | 0 | 0.000 |
0 | 0 | 0.000 |
Price($) | Vol. | No. |
---|---|---|
0.003 | 578121456 | 223 |
0.004 | 280497450 | 103 |
0.005 | 79605707 | 45 |
0.006 | 35694900 | 35 |
0.007 | 41743917 | 24 |
Last trade - 15.59pm 06/09/2024 (20 minute delay) ? |
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