BB's Stock Haven

[Golden Cross]

$EEENF .0697 88 Energy is the new darling of small caps currently making a parabolic run up the charts and quickly establishing itself as a top traded stock in small caps. Currently under heavy accumulation EEENF traded $73 million in dollar volume on Friday alone and is looking to blaze a path along the likes of Enzolytics or Tesoro and break out into a whole new dimension – Tesoro went to multi dollars. The recent acquisition of XCD Energy gives the Company over 400,000 acres in the world class North Slope of Alaska estimated by the USGS in 2005 to hold more than 50 billion bbl of oil and a war chest of $13 million. Timing could not be better for a potential mammoth oil strike with the Crude Oil WTI Index hitting a high of US$67.98 per barrel recently, a level it hasn’t traded at since 2018. EEENF is in beast mode right now and is the most talked about small cap stock; a break over $0.073 on Monday and things really start popping here. 88 Energy recently commenced drilling the Merlin-1 well which will initially be drilled to 1,500 feet, then surface casing will be installed, and the Blow Out Preventer System tested. the well will be deepened through the target horizons in the Nanushuk Formation to a maximum total depth of 6,000 feet. The Merlin-1 well is targeting 645 million barrels of gross mean prospective resource. A second well, Harrier-1 may commence immediately following completion of operations at Merlin-1. Herrier-1 is targeting gross mean prospective resource of 417 million barrels. Both the Merlin and the Herrier prospects are located on trend to an existing discovery in the same play type (Nanushuk topsets). This has de-risked the prospects considerably and resulted in a relatively high estimated geological chance of success. According to 88E recent release the Company’s total prospects for 3 of their wells; the Merlin, Herrier & Herrier Deep target 1.638 billion barrels of oil.
https://microcapdaily.com/88-energy-ltd-otcmkts-eeenf-drilling-the-merlin-1-harrier-1-oil-in-the-world-class-alaska-north-slope/131507/