88 Energy Ltd (EEENF)

[Dfrntstuf]

I have been on this board since early last year. One more penny stock to add to the huge pile of pennies that I have played over
the years. Had a few winners and a huge bunch of losers. Then I
found EEENF. Did some DD and found that they are probably sitting
on 1.5 billion barrels of oil...based on high tech testing. EEENF
controls almost 500,000 acres on North Slope. The 1.5 billion
barrels is deep under that small percentage of that 500,000 acres
that has been subjected to testing.

Every so often someone shows up here and suggests that EEENF is a POS based on the astronomically high outstanding share count. Well, I have thought about that...quite a bit. After all, 14,000,000,000 shares is a bunch. So, I employed my limited mathematical skills (my multiplication and division are adequate) and here is what I found. 1.5 billion barrels at approximately $80.00 give or take equals $120,000,000,000 divided by 14,000,000,000 outstanding shares equals $8.57 per share. I realize that this is a simplistic computation as the 1.5 billion barrels in the ground is just an estimate. However, it works for me. So....I rolled everything I have into this. Share count is important...but the number of outstanding shares only matters
if there are no underlying assets to support the share count. In the case of EEENF, the assets are there.

14,000,000,000 shares, who cares? I'm good. I think that this is
the best stock I have ever found. We are all lucky to be here.