Geometry Dash APK Hill Climb Racing APK
37.6 F
New York
Friday, March 31, 2023

88 Energy Ltd (OTCMKTS:EEENF) Stock Surges 40% But Can’t Hold Gains

Must read

Healthier Choices Management (OTCMKTS:HCMC) Falls Following WallStreetBets Hype

Investing in stocks that are gaining momentum is often regarded as a sound investment and more often than not it works out...

Enzolytics Inc (OTCMKTS:ENZC) In Focus: Regains It’s Momentum

One of the most notable gainers over the course of the past months has been the Enzolytics Inc stock. While it is...

Medmen Enterprises Inc (OTCMKTS:MMNFF) Pulls Back From Highs as Buzz Cools Off

Among the sectors which have bounced back in 2021, the cannabis sector is one of considerable interest since it had been in...

VirtualArmour International Inc (OTCMKTS:VTLR) Jumps Another 250% This Week

Not every move in the stock market can always be explained and hence, investors are often rightly confused when a stock records...

The oil and gas company 88 Energy Ltd (OTCMKTS:EEENF) seems to have come back on to the radars of investors over the course of the past 7 days.

88 Energy stock (OTCMKTS:EEENF) has managed to clock gains of as much as 40% over the past week and has since pulled back. Let’s take a closer look at some of the recent developments.

Last Wednesday, 88 Energy stock was on the move once again after the company announced that it discovered more upside to its Umiat oilfield, which is located in Alaska. However, that is not all. 88 Energy was also given an extension of 24 hours within which the company would need to come up with an optimized development plan for the oilfield.

In the announcement made by the company yesterday, it stated that it had conducted additional research at the oilfield and that was when the extra upside had been revealed.

The company added that the footwall at Umiat has only been drilled for one well and that was back in 1952. Hence, the company believes that there could be more upside at Umiat and that has also sparked considerable positivity among investors about the 88 Energy stock.

More importantly, the company has now been granted an extension of as long as two years within which it can fulfil its obligations. The extension is going to allow the company to further take forward its understanding of the acreage that is there at the site.

Now that it has got the extension, 88 Energy stated that it is going to go through the historic scoping studies at the Umiat oilfield and look into the possibilities about the alternative scenarios. Investors could do well to add the stock to their watch lists at this point and see what happens when the dust settles.

Disclaimer: We hold no shares of EEENF stock.

Latest article

Alibaba Group Holding Limited (OTCMKTS:BABAF) Big Volume with Possible 60% Upside

Alibaba Group Holding Limited (OTCMKTS:  BABAF) is an over the counter stock traded on the OTC Pink markets in the Consumer Discretionary...

Trans Global Group Inc (OTCMKTS:TGGI) Stock In Focus After Operational Updates

The Trans Global Group Inc (OTCMKTS:TGGI) stock may not have been in the news today yet but it...

Why Hycroft Mining (NASDAQ:HYMC) Stock Shot Up 700%

If you are on the hunt for stocks that may have made major gains over the course of the past week, then...

Secure Paymentz releases banking software demo on Github

This is a paid announcement from one of our advertising partners. How to Leverage Your Trading Position by Secure...

Advanced Asset Management Announces New Website Launch

This is a paid announcement from one of our advertising partners. Financial Planner in Grandville, Michigan
Şehirler arası nakliyat ve Şehirler arası taşımacılık konusunda en uygun fiyatlar ve en kaliteli hizmet.
ofis taşıma firmaları ve ofis taşıma konusunda en uygun fiyatlar ve en kaliteli hizmet. Affordable best sms verification service