Earlier this month the oil and natural gas company 88 Energy Limited (OTCMKTS:EEENF) has seen its stock tank sharply following an equipment-related power outage at its properties.
However, the stock seems to be on the way back and this past week, the 88 Energy stock managed to record gains of as much as 50%. The operational update earlier had damaged the stock but this past Tuesday, the company announced encouraging results from its drilling activities in Alaska.
That seems to have been welcomed enthusiastically by investors and resulted in a strong rally in the stock. 88 Energy announced that it started testing cutting, mud gas, and sidewall cores at one of the high prospect zones.
The company went on to state that the results from the tests are going to be made available in the next two to ten weeks. In light of the latest rally in the stock, it might be a good time for investors to start tracking the 88 Energy stock.
Finance and Tech Contributor