88 Energy Ltd (EEENF)

[vtech07]

upon reading the pr I realized they're not so clear on things. 22mil raised and they say there will be no separate dilution for paying the operator. 28mil for road construction and drilling and wire lines. It sounds like they only spend investors' money for everything, and drilling operator will work for free. Didn't they raise 11 mil just last September?

33mil raised - 28mil with a "free" drilling crew = 5mil

So they got paid around 900.000$ each month for filing and planning. Each employee got paid around 75k a month, approximately of course, and now only a major oil find will save this stock from a r/s. I'm glad I didn't buy more. They have no resources of their own but a privileged very worthy spud location. Talk about the riskiest investment of the year. I need a beer.