88 Energy Limited (formerly Tangiers Petroleum Limited) is an ASX listed exploration exploration company that has recently announced the acquisition of a new, potentially world class oil asset located in Alaska. It also has a 25% stake in the Tarfaya Offshore Block is located on the Moroccan Atlantic margin and was acquired by the company in 2009.

Alaska-project-icewine

morocco

http://88energy.com/

Good for you. :-))

Today, as usual, did the trade too soon!:o(

Proactive Investor - 88 Energy (LON:88E) shares were going the way of its new drilling plans (vertically downwards) having fallen 18% after they were announced this morning. It is scrapping previous lateral drilling plans for a vertical well, which is much cheaper. Obviously the cost-cutting has meant some shareholders have lost faith.

Was watching these today was down 25% first thing could be a cash call coming..

Massive volume on this stock could go up just as quick as it went down once it hits the bottom..

Still on the watch list. Falling knife at the moment.

Bought some @ 2.385p

Reasons: Had a large fall for the last few days and the large buying today should be the bounce back on its way as the overhang is being cleared. Level 2 of 2 v 1 and paying 2.385p to buy for 2.33p to sell.

getting there now 2.40 v 2.50p

level 2 of 1 v 1

Finishing with a Candlestick "hammer" is very bullish on the charting front and the bounce should take the stock back to 3.50p
A hammer is a type of bullish reversal candlestick pattern

1 month chart 88E


Hammer: Hammer candlesticks form when a security moves significantly lower after the open, but rallies to close well above the intraday low. The resulting candlestick looks like a square lollipop with a long stick. If this candlestick forms during a decline, then it is called a Hammer.

Hammer reversal
candlestick_bullish_reversal_patterns-hammer

Hammer (candlestick pattern)
(candlestick_pattern)

And what a bounce today 90 minutes of trading and + 0.275 (+11.22%) naturally the volume is very important on the bounce and the 18M traded so far is a way of saying the bounce is working on and being very strong

mentor
Good call, on board as of this morning 2.6p

Someones trying its best

wish mentor would track some real shares :-)

his chart interpretation is very good, but i confess these twiddly shares are not for me
i don't have the balls the buy swags of them - if even available - and the short-term profit (hindsight of course!) from buying a small number won't even buy a round of drinks

Cynic
I thought you was loaded.

well you thought wrong didn't you

Valuation of the Ice Wine project in Alaska by "atoui"

https://www.scribd.com/document/324144893/Atoui-M-2016-MEF-MSc-Thesis

Valuation

https://www.scribd.com/document/324144893/Atoui-M-2016-MEF-MSc-Thesis

Research Note

http://88energy.com/wp-content/uploads/2016/09/88E-Update-Report-12092016.pdf

Bought back into these today after a bit of an absence

Still holding mine, and the shares!😀

:-)