88 Energy Ltd (EEENF)

[Screwdriverx]

Heres my opinion on this. Most of the people that bought into $EEENF DO NOT understand the oil industry and mistakenly believed that after wire logging the company would confirm without any doubt that oil had been found and lots of it and many believed oil would literally gushing out of the well. The fact Wall stated that the well will be plugged to be rexamined at a later date people interpreted that as the well is a failure. Anyone who knows the industry knows wire logging was just another step required in the process to confirm the presence of oil etc. They also know 88E is an exploration company not farming therefore the company will not farm this well. In addition they also know all the well must be drilled first and infrastructure built before any oil is farmed and that takes time and given this is the north slope the season is very short therefore they have a very limited window.

In conclusion many people simply bought the stock on the hype but have no idea what the results mean or the process required here.