88 Energy Ltd (EEENF)

[mr_freemoney]

I am confident we will see north of .03, .05, .08 and more before long. I certainly did not sell any on Tuesday with that absurd price drop.

The big thing I remind myself is they did not give up on Peregrine nor did they say there was no oil there. Rather, they found evidence of more oil than their original estimates. Starting late in the season as they did, I had no expectation of oil pumping immediately, nor should anyone have expected this.

The knowledge they gained from this drilling should prove invaluable at the next attempt. They will certainly be better prepared to deal with the adversities they faced this time.

Funny thing is, the people who sold for big losses on Tuesday most likely also agree based on the same evidence we all saw, that the oil is there at Merlin in significant quantities and recoverable with better execution.

I'm planning to accumulate over next several days/weeks and I think time is on our side. With passage of days we get closer to PRs outlining next steps for Peregrine. Traders/investors will return when they realize their blunder and see all the reasons they jumped in are still in play.