88 Energy shares soar against backdrop of higher crude prices Proactive uses images sourced from Shutterstock

More buyers than sellers - that's the less-than-satisfying and slightly sarcastic retort a trade desk will give when a better reason for a sudden share price spike isn't available. And, so it is, we reach into the drawer for the same explanation, as 88 Energy Ltd (AIM:88E, ASX:88E, OTCQB:EEENF, FRA:POQ) shares opened some 30% higher in Monday's early trade.

88 Energy itself told the ASX earlier today that it "is not aware of any information concerning it that has not been announced to the market which, if known by some in the market, could explain the recent trading in the company’s securities."

Besides the curt response to the 'ASX speeding ticket' query, the Alaska-focused explorer (which also has some early-stage assets in Namibia) did also publish a new corporate presentation which pours context over a series of fairly recent announcements, laying out a proposed 'hub' approach to the development of certain of its assets in Alaska, and in particular, underlined the opportunity that the small-cap company sees at its Prudhoe proeject in particular.

Meanwhile, given the backdrop of soaring crude prices amidst conflicts in the Middle East, a stockbroker's narrative about the premium value of domestic US crude supply can be an easy pitch to speculative investors.

So, in London, in the absence of tangible news events... "more buyers than sellers".

In early trade, the 88 Energy price was up nearly 41% for Monday at 1.52p.

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