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88e Share Price

In 2021, 88 Energy Limited continued to focus on exploration and development activities at its Project Icewine site in Alaska. In February 2021, the company announced the completion of the drilling of the Merlin-1 well, located within the Project Icewine area. The well-encountered hydrocarbon indicates the area’s potential for oil and gas resources. In May 2021, the company announced that it had completed the drilling of the Harrier-1 well, which also encountered hydrocarbon shows.

In June 2021, the company announced the completion of a capital raising of approximately AUD 17.5 million to fund its ongoing exploration and development activities. The company also continued to progress on prinessing and interpreting seismic data collected from the Project Icewine area.

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88e Share Price

88 Energy Limited (ASX: 88E) is an oil and gas exploration company listed on the Australian Securities Exchange (ASX) and the London Stock Exchange (LSE). The company’s primary focus is on the exploration and development of oil and gas resources in Alaska. The 88e Share Price as of this post is at 0.53 GBx.

As of September 2021, the stock price of 88 Energy Limited on the ASX was around 0.4 cents per share.

Brief Background of 88e Share

88 Energy Limited is an oil and gas exploration company established in 2005. The company’s headquarters are in Perth, Western Australia, and its offices are in Houston, Texas, and Anchorage, Alaska.

In its early years, 88 Energy focused on acquiring exploration licenses and conducting seismic surveys in the United States, particularly Alaska. In 2015, the company acquired a 77.5% working interest in Project Icewine, located on the North Slope of Alaska, and covered an area of approximately 271,000 acres.

Since then, 88 Energy has been focused on exploring and developing the resources in Project Icewine, which is believed to contain significant oil and gas deposits. In addition, in 2020, the company announced a significant oil discovery at its Peregrine well on the North Slope of Alaska.

Over the years, 88 Energy has raised capital through various means, including private placements, rights issues, and share placements. As a result, the company is listed on the Australian Securities Exchange (ASX) and the London Stock Exchange (LSE), allowing investors to invest in its exploration and development activities.

Advantages of Investing in 88e Share

  1. Strong focus on exploration and development. 88 Energy Limited is focused on exploring and developing oil and gas resources in Alaska. The company has invested significant resources in conducting seismic surveys and drilling wells. In addition, it has made significant discoveries of oil and gas resources. This intense focus on exploration and development can yield solid returns for investors if these resources are successfully extracted.
  2. Experienced management team. 88 Energy Limited’s management team has significant experience in the oil and gas industry. The team has a strong track record of successfully managing exploration and development projects in challenging environments and profoundly understands the local regulatory and business environment.
  3. Portfolio diversification. Investing in 88 Energy Limited can potentially provide diversification benefits for investors’ portfolios, particularly those looking to invest in the energy sector. The company operates in a different geographic location and focuses differently than other oil and gas companies, potentially reducing risk through diversification.
  4. Access to capital. 88 Energy Limited has raised significant capital over the years through various means. This includes private placements, rights issues, and share placements. This access to capital can provide the company with the resources it needs to continue exploring and developing its resources in Alaska, potentially leading to strong returns for investors.

Main Competitors of 88 Energy Limited

88 Energy Limited operates in the oil and gas exploration and production industry. Some of the company’s main competitors in the industry include:

  1. ConocoPhillips. ConocoPhillips is a major global oil and gas exploration and production company. The company has significant operations in Alaska, including on the North Slope, where 88 Energy’s Project Icewine is located.
  2. ExxonMobil. ExxonMobil is one of the world’s largest oil and gas companies and has significant operations in Alaska. The company has been active in Alaska for several decades and has significant experience operating in the challenging Arctic environment.
  3. BP. BP is another major oil and gas company with significant operations in Alaska. The company has been active in Alaska since the 1950s and has invested significant resources in exploring and developing the state’s resources.
  4. Royal Dutch Shell. Royal Dutch Shell is a multinational oil and gas company with operations in Alaska, including in the Arctic. The company has significant experience operating in challenging environments and has invested significant resources in exploring and developing Alaska’s resources.

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Conclusion

Overall, the performance of 88 Energy Limited in the industry in 2021 was focused on exploration and development activities, and the company made progress in its efforts to identify and develop oil and gas resources in Alaska. However, it’s important to note that the performance of any company, including 88 Energy Limited, can be influenced by a range of factors, including market conditions, regulatory changes, and other unforeseen events.

FAQ

FAQ: 88e Share Price

What is the historic performance of 88 Energy Limited stock?

Over the past few years, 88 Energy Limited's stock price has experienced significant volatility, with periods of significant gains and losses. For example, in 2019, the company's stock price increased significantly following the announcement of positive results from its drilling activities at the Project Icewine site. However, in 2020, the company's stock price declined significantly, along with the broader market, due to the COVID-19 pandemic and falling oil prices.

Does 88 Energy Limited pay dividends to its stockholders?

As of September 2021, 88 Energy Limited has not paid dividends to its stockholders. The company focuses on exploration and development activities at its Project Icewine site in Alaska, and it has not generated significant revenue or profits from its operations. As a result, the company has not had the financial resources to pay dividends to its shareholders.

How much does 88 Energy Limited make in a year?

As of September 2021, 88 Energy Limited has not generated significant revenue or profits. As a result, the company focuses on exploration and development activities at its Project Icewine site in Alaska, which has required significant investment in capital expenditures, drilling, and seismic studies.

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Simon Williams
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