88 Energy Ltd (EEENF)

[Nightdaytrader]

The problem with EEENF, in my opinion, is the 15B outstanding shares. So if stock price goes up 10 cents, that is already a market cap of $1.5B BILLION.

I am heavily invested in EEENF but also RECON Energy Africa (RECAF). EEENF and RECAF are similar, no debt, small companies, exploration in remote areas, both on land, have drilled a couple of wells and found traces of oil, sitting on potentially, lots of oil....... but in my opinion, the big difference again, is number of outstanding shares. RECON Energy Africa only has ~200M outstanding shares and their price is about $4.50. A year and a half ago, it was like 60 cents.