Upcoming share price catalysts16 Sep 2020 21:34
There are a number of key developments that could potentially provide positive share price momentum for 88E in the coming months.
These include the farm-out of Project Icewine (conventional) as the evidence for oil with less gas in the Seabee and Torok prospects make them compelling targets.
With 88E now in possession of data that proves better reservoir quality in eight separate Seabee and Torok targets, four of which have been demonstrated to contain hydrocarbons in the Heavenly, Malguk or Charlie wells, attracting a farm-out partner could happen fairly swiftly.
Of course, an additional attraction would be the potential identified in the Seabee Upper Lima North region.
The XCD acquisition also promises to deliver interesting news flow.
Good progress continues to be made at the newly acquired Project Peregrine on both the farm-out and permitting/planning fronts.
Additional news related to that will be provided in the near term.
Management has received confirmation of the ideal thermal maturity for the HRZ shale, an encouraging development that will form the basis of further work to continue to unlock its large potential.