Why Will 88 Energy (EEENF) Start To Move Again?

The oil and gas company 88 Energy Limited (OTCMKTS:EEENF) had been in the news last month after an operational update from the company resulted in a massive single-day crash in the stock.

Why Will 88 Energy (EEENF) Start To Move Again?

The stock crashed after the company announced that an equipment failure had led to a power outage at two of its high prospect zones. However, another update at a later date from 88 Energy resulted in a rebound, and nowadays; the stock is in consolidation mode.

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It is the sort of situation in which investors could consider tracking this stock. The company announced operational results from the drilling activities at its property in Alaska and that was the trigger that resulted in a recovery. On the other hand, 88 Energy also noted that mapping that had been done at the prospective zones in the Merlin 1 property had also shown positive results. Investors could consider keeping the stock in their watch lists at this point.

Anthony Gonzales

Biotech, Tech, and Crypto reporter Anthony Gonzales brings 3 years of experience in helping grassroots, mid-sized organizations and large institutions strengthen their management and resource generating capacities and effectively plan for the future. He is also a mentor and professional advisor to artists working in all disciplines. He is the gold medalist from St. Marco University of Science and Technology in the Bachelors of Financial Management as well.