88 Energy Limited is an Australian oil and gas exploration company listed on the ASX focused on its three large-scale projects located onshore in a proven hydrocarbon basin in Alaska and two significant projects in highly prospective maritime areas in the UK. The Company is currently advancing two operated Projects in Alaska. 88Eu2019s share price has been extremely volatile in recent years. In 2018, it reached an all-time high of $0.23, driven by promising drilling results at Project Icewine . However, it then declined dramatically due to lower oil prices and operational failures . In 2020, the share price dropped to a low of $0.02 due to the Covid-19 outbreak causing a massive economic slowdown worldwide. Since then, 88E shares have regained some of their gains, trading has settled at about $0.07 per share as of March 2023 . This is due to increased oil prices and a significant increase in the production of the company from the drilling result at Project Icewine.

Other factors will also be critical to 88E stock moving forward. These include: * Oil Prices. Factors the market fares highest on oil prices since the cost of oil is the most decisive factor in oil & gas companiesu2019 profitability, higher oil results in more profits for exploration companies. * Drilling Results. The performance or lack thereof from 88Eu2019s drilling program would be a decisive factor in moving the stock. Positive results could lead to serious additions to the companyu2019s reserves and production and therefore a higher stock price, whilst conversely, disappointing results could see the stock price compressed; * Operational Efficiency. The company should have operational efficiency on its menu to enhance production opportunitiesu2014any significant operational problem or delay that might impact the companyu2019s production and costs could have a significant negative impact on the stock; * Market Sentiment. Whether the overall sentiment in the equity market could also impact 88E stock performance. Positive energy or Alaska exploration sentiment would go a long way to support the share price, whilst the converse attitude might lead to a negative performance. Concerning financial analysts, view and recommendations on 88E vary. Some see the stock as overrated, while the company prefers looking good because of its dangerous drilling operations. The consensus recommendation for the 88E stock was u201choldu201d with the target price of the stock range of $0.06 -$0.10. Hence the analysts are saying that the stock is fairly priced and it could run up just as easily as down from this level.

In order to approach to the possible future performance of the company, it is important to take into consideration the historical performance of 88E stock. Nevertheless, an important fact is that previous performance does not guarantee the same results in the future . The following projections could be formulated due to the mentioned factors: if oil prices continue to go up combined with successful drilling, the stock price will further increase. On the contrary, if oil prices decrease or no success during the drilling season of 88E, the price of the stock will go down. Finally, the overall market movements would contribute to the stocku2019s future volatility. Over the past years, 88E has been highly volatile. The main determinants will be the prices of oil, success in drilling, efficiency in operational procedures, and the overall market sentiment. Different experts argue regarding the stocku2019s condition in the future, but the average recommendation is hold. It is recommended to take all the suitable measures before making any investment.