88 Energy shares plunged significantly on ASX, Here’s why?
Key Takeaways:
88 Energy shares dropped on the ASX after the wireline logging results were released.
The interim examination of the wireline logging program identified that reservoir quality at this site was inadequate to warrant a production test.
Forward operations for the Merlin-2 well will look into plugging & deserting the well along with starting release from the drilling site.
88 Energy Limited (ASX: 88E) shares have plunged significantly on the ASX post announcement of the wireline logging results. At AEDT 1:23 PM, 88E shares dropped 50% and were trading at AU$0.016. The prices reached near their 52-week low prices.
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88 Energy shares plunged significantly on ASX, Here’s why?
Key Takeaways:
88 Energy Limited (ASX: 88E) shares have plunged significantly on the ASX post announcement of the wireline logging results. At AEDT 1:23 PM, 88E shares dropped 50% and were trading at AU$0.016. The prices reached near their 52-week low prices.
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