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88 Energy (EEENF) Stock Soars 35% in a Month: More to Come?

88 Energy (EEENF) Stock Soars 35% in a Month: More to Come?

Jul 22, 2021

After having gone through a fair degree of volatility, the oil and gas company 88 Energy (OTCMKTS:EEENF) saw its stock make a strong move over the course of the past month.

The stock has come into the radars of many traders in a big way and over the course of the past month, it managed to clock gains of as much as 35%. The fresh momentum in the stock is something that investors need to look into closely before they make any decision one way or another. There are two main factors that drove the rally in the stock. Last month 88 Energy had announced that it had sold off its oil and gas credits from its Alaskan interests for a total of $18.7.

While that was a nice chunk of change for 88 Energy, the company decided to pay off the entirety of its debts amounting to $16.1 million. The company added at the time that the rest of the money from the sale was going to be used for working capital needs and also for strengthening its balance sheet.

The company’s operations are very small when compared to some of the other oil and gas companies, which is why it was such a major development and led to such excitement among investors. The other important development was 88 Energy’s decision to issue as many as 204 million fully paid-up shares in the company at $0.026 a share. The proceeds for the same was used to pick up a 50% stake in Project Peregrine.

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88 Energy Ltd (EEENF) Stock Break Out Alert: How To Trade This Week?

88 Energy Ltd (EEENF) Stock Break Out Alert: How To Trade This Week?

Jul 5, 2021

If you are currently on the lookout for oil and gas stocks then it might be a good move to considering having a look into the 88 Energy Ltd (OTCMKTS:EEENF) stock. The stock was in considerable focus among investors this past Friday and managed to clock gains of 21%.

That took its gains for the previous week to as much as 65%. The rally in the stock on Friday was triggered after the company announced that it repaid all its debt. That said, the announcement to that effect had been made by the company on June 21. As a matter of fact, the stock is actually up 76% in the past 30 days. Another major announcement from 88 Energy was back on June 7 when it revealed that it decided to buy out the rest of the 50% stake held by its joint venture partner in Project Peregrine, an oil field in Alaska.

That transaction cost the company $18 million and the transaction was to be concluded in stock. Later on, on June 21, the company announced that it was all set to sell the oil and gas tax credits from its Alaskan project for $18.7 million. The company announced at the time that it was going to pay off all of its debts worth $16.1 million from the proceeds of the sale. That transaction was completed on Friday. The rest of the money, totaling $2.7 million, is going to be used to boost its cash reserves.

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88 Energy (EEENF) Stock Comes Back Strong: Time to Buy Now?

88 Energy (EEENF) Stock Comes Back Strong: Time to Buy Now?

Jun 22, 2021

After having been in consolidation mode for some time, the 88 Energy stock has sprung back to life this week and this morning the stock has continued to record strong gains. The oil and gas company has gone up by 30% so far this morning and perhaps it is now time for investors to take a closer look at 88 Energy (OTCMKTS:EEENF).

Yesterday, it emerged that the company had reached an agreement to sell its tax credits in a transaction worth as much as $18.7 million. It may not seem like a large amount for many companies but for 88 Energy it is a substantial amount.

The company is going to use the proceeds from this sale for paying off its debts that amount to $16.1 million at this point in time. The rest of the $2.6 million is going to be retained by the company and help in boosting its cash reserves. Considering the fact that the latest transaction is going to help 88 Energy in strengthening its balance sheet considerably, many investors seem to be quite optimistic about the company’s prospects going forward.

 The strengthening of the cash position is also an important development. In recent times, many investors had started worrying about the financial situation at the company.

In addition to paying off its debts and strengthening its cash position, this move is also going to save the company as much as $1 million in the form of associated finance costs. The figures may not be big but it is necessary for investors to keep in mind that the 88 Energy commands a market cap of only $265 million and hence these amounts are substantial.

Leverage can affect different companies in different ways; however, for 88 Energy the lowering of leverage to such a degree has caused considerable optimism among investors. It remains to be seen if the stock can maintain its momentum or not.

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Reconnaissance Energy Africa (RECAF) Stock Hits Record Highs: More To Come?

Reconnaissance Energy Africa (RECAF) Stock Hits Record Highs: More To Come?

Jun 17, 2021

Reconnaissance Energy Africa Ltd (OTCMKTS:RECAF) stock has been gaining a lot of momentum over the past few months and made a new high of $9.30 on Wednesday.

Over the course of the past week, the stock has clocked gains of as much as 22% to take its gains for the year to 475%. It might be difficult to put one’s head around it but it is easy to see why this has happened.

The company recently announced the execution of a Joint Operating Agreement (“JOA”) to develop the resource potential of the Kavango Sedimentary Basin, Northeast Namibia.

Under the agreement, the two companies will jointly pursue an ongoing petroleum exploration program in the Kavango East and Kavango West regions of Namibia, with ReconAfrica covering the full costs to commerciality. The two companies initially entered into a Petroleum Exploration Agreement with the Government of the Republic of Namibia in 2015, under which they acquired Petroleum Licence No. 73.

The JOA was officially executed on Friday, June 11, 2021, and signed by ReconAfrica CEO Scot Evans and NAMCOR Managing Director Immanuel Mulunga.

“We are delighted to have finalized the negotiations and signature of a Joint Operating Agreement (JOA) with ReconAfrica for Petroleum Exploration License No. 73. This Agreement will govern the relationship between NAMCOR and ReconAfrica; and we will collectively advance the search for oil in the Kavango Sedimentary Basin in accordance with the Laws of Namibia. We understand the hydrocarbon potential of the Kavango Basin; hence collaborating with an international company with both technical and financial capabilities such as ReconAfrica will unlock the discovery of commercially viable hydrocarbon reserves and thereby enhance economic development in the country,” said Immanuel Mulunga, Managing Director of NAMCOR.

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Ozop Energy Solutions (OZSC) Stock Extends Rally: What’s Going On?

Ozop Energy Solutions (OZSC) Stock Extends Rally: What’s Going On?

Jun 10, 2021

Over the course of the past week or so, the Ozop Energy Solutions (OTCMKTS:OZSC) stock has emerged as one of the major gainers and the rally in the stock continued yesterday.

On Wednesday, the stock soared by as much as 20% to take its gains over the past week to 20%. Considering the sort of gains that have been recorded by the stock it might be a good move for investors to look into Ozop Energy Solutions a bit more closely. Yesterday the company announced that its fully owned subsidiary company Ozop Energy Systems signed a letter of intent with a real estate investment fund which is part of the New York Stock Exchange.

This is a major development for the company and the reaction from investors yesterday reflects that as well. By way of this agreement, the two entities are going to involved in scouting property in two different locations in New York and one in New Jersey for the purpose of developing electric vehicle charging and batter storage stations.

However, that is not all. The two entities are also going to involved in conducting a viability study which is going to look implementing BrainBox AI’s artificial intelligence powered energy optimisation products in more than 200 properties.

The client is a well known equity real estate investment fund and owns commercial properties across a number of states in the United States. The deal that Ozop Energy Systems signed with BrainBox AI earlier on in the week is also an interesting one.

In the announcement made by Ozop Energy Solutions, it was noted that BrainBox AI is going to explore the possibility of using its self-adapting artificial intelligence-powered products in properties owned by Ozop’s customers in the New York metro area. This particular deal was welcomed with optimism by investors and had led to a rally in the stock.

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88 Energy Ltd (EEENF) Stock Attempts To Recover: What Next?

88 Energy Ltd (EEENF) Stock Attempts To Recover: What Next?

Jun 8, 2021

The 88 Energy Ltd (OTCMKTS:EEENF) stock was in considerable focus among investors on Monday and it is easy to see why. Yesterday, the company announced that it signed an agreement with Alaska Peregrine Development Company by way of which it is going to acquire 50% working interest in Project Peregrine.

The project is located in Alaska. Although the stock plummeted after the announcement was made initially, it ended the day with gains of 8%. Considering the movement in the stock over the course of Monday, it might be a good idea for investors to take a closer look at the deal.

In this regard, investors need to note that once this acquisition is formally completed, 88 Energy is going to have working interest of 100% in the project. In a statement, the company stated that this agreement is going to allow it to continue to explore for oil at some point in the next winter.

As per the terms of the agreement, 88 Energy will be paying $14 million in the form of shares. However, there are going to be certain stipulations in this regard. Overriding royalty interest to the tune of as much as 1.5% is going to be given to Alaska Peregrine Development Company and milestone cash payments of $10 million has also been agreed upon.

The move in the stock came about after it had been trading flat for several weeks. In this context, it should be noted that in back in April the 88 Energy stock suffered a massive single day decline after it emerged that there had been a power outage due to equipment failure at two of its highest prospect zones.

That had led to panic selling in the stock. However, another announcement some days later with regards to the update about 88 Energy’s drilling activities in Alaska had resulted in a mild recovery.

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Hunter Technology (HOILF) Stock Is Moving in the Right Direction: Here is Why

Hunter Technology (HOILF) Stock Is Moving in the Right Direction: Here is Why

Jun 1, 2021

When a stock gains momentum over several days, then it might be a good move for investors to start taking a closer look into the stock and the company. The Hunter Technology Corp. (OTCMKTS-HOILF) stock has been gaining considerable momentum in recent days and that might have been related to an updated shared by the company last week.

The company, which is involved in the development of global digital marketplaces focused on the worldwide energy trading industry, provided an update on the progress that it has made with regards to the development of its latest offering OilExchange. Hunter Technology also provided an update on the latest investor deck in relation to this product.

It is a highly innovative product and is meant to act as a platform that is going to help sovereign clients with oil supply chain intelligence solutions. However, that is not all. There are some other highly important features that ought to be pointed out.

The oil value chains can be highly complex but the OilExchange platform is capable of providing large oil producers and governments with the necessary transparency that is so necessary. The oil value chain is highly complex and OilExchange provides solutions starting from the stage of production to trade and storage.

The company announced that it is currently on course to come up with the first version of the product at some point in the third quarter of 2021. However, more importantly, the company revealed that it has engaged with regulatory agencies, governments and a range of selected potential customers in relation to OilExchange.

The interactions have proven that the product could have significant market potential when it is eventually launched. The oil industry is massive and oil trading is the bread and butter of some of the biggest oil companies in the world. Hence, it is a product that could bring a lot of value. Investors could do well to keep an eye on Hunter Technologies from now on.

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88 Energy (EEENF) Stock Moves Closer To 2 cents: How To Trade Now?

88 Energy (EEENF) Stock Moves Closer To 2 cents: How To Trade Now?

May 27, 2021

Back in April the stock of the oil and natural gas company 88 Energy Limited (OTCMKTS:EEENF) had displayed considerable volatility owing to certain developments. However, over the course of the past few weeks the stock has been in the middle of a phase of consolidation.

When that happens, then there is a possibility of the stock breaking out and hence, it might be a good idea for investors to take a closer look at the 88 Energy stock. The 88 Energy came into focus in March this year, when it soared to 20 cents a share, however, an update from the company back in April rocked and sent the shares tumbling.

In April, the company announced that equipment failure had led to a power outage at two of its highest prospect zone. It disrupted the sampling work at those two properties that are part of 88 Energy’s Alaskan Peregrine project.

That proved to be a major blow for the stock as a major selloff ensured amidst panic from customers and the stock crashed. However, the stock recovered some days later on April 27 after the company provided another operational update in relation to its drilling activities in Alaska.

88 Energy announced that it started the testing on the sidewell cores, fluid samples, mud gas and cuttings at the property in question. At the time, the company revealed that the results from the testing are going to be revealed in 10 weeks.

It goes without saying that many investors are going to be eagerly waiting for the results from the tests and it remains to be seen if the publication leads to any rally or not. That might actually be one of the major reasons why the stock is currently trading flat. Once the results are declared, there might be considerable movement in the stock either way depending on the nature of the findings.

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88 Energy Limited (EEENF) Stock Is In Focus As It Trades Sideways

88 Energy Limited (EEENF) Stock Is In Focus As It Trades Sideways

May 11, 2021

Oil and gas company 88 Energy Limited (OTCMKTS:EEENF) had seen its stock collapse last month following an announcement with regards to an outage. However, it did recover following another operational update.

Key Updates

At this point in time, the stock has been trading within a range and that has been the case for the past few weeks. Such a state of affairs can also lead to a breakout eventually and hence, it might be a good move from investors to perhaps take a closer look at 88 Energy.

The stock tanked as much as 90% at one point last month after the company announced that there was an equipment failure induced power outing. More importantly, the outage affected the company’s operations at two of its highest prospect zones. The announcement triggered a major selloff in the stock.

The zones in question are part of the Alaskan Peregrine project that the company is pursuing at this point. While it is true that the update about the outage had led to the selloff, another update made some days later about the positive operational results from its drilling activities in Alaska helped in a strong rebound.

The company announced that it started testing for sidewell cores, cutting and mud gas at the high prospect zones. The announcement had been made by the company back on April 27 and at the time, 88 Energy noted that the complete results were going to be announced at any time between two to ten weeks.

Investors are almost certainly looking forward to the test results before making up their minds about the prospects of the company. That might be another reason why the 88 Energy stock is currently trading within a range. On the other hand, uncertainty and anticipation can also lead to considerable volatility, according to experts. At this point, it might be a good idea for investors to keep a close eye on the stock and any announcements from 88 Energy.

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