Is the 88 energy (88E) share price set to climb?

The 88 Energy ( LSE: 88E) share price has fallen 67% over the past 12 months. That was mostly as a result of a disappointing well test in March, which saw the stock plummet 65% in a single day.

Is 88 energy (88E) a good stock to buy?

After all, the 88E share price is up 15% over the past two years, even if there was a boom and bust in between. On the subject of the share price, I must note one caution. 88 Energy is very much in penny share territory.

What happened to 88 Energy’s share price?

Project Peregrine is an oil field in Alaska. The purchase cost 88 Energy $18 million, which it can pay in shares. While the news seemed positive, it drove the 88 Energy share price to close 9% lower. Then, on 21 June, 88 Energy announced it was about to pay off its US$16.1 million of outstanding debt.