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88 Energy - is Icewine the Horse Hill of the American Wilderness?

By Ben Turney | Friday 13 November 2015


Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.


Red warning flags have been billowing over 88 Energy  (88E) ever since it changed its name from Tangiers Petroleum (TPET). Tangiers was an unmitigated disaster for shareholders, but it seems that a simple name and ticker symbol change is all that is needed to induce an acute case of market amnesia. Having bet the farm and lost in Morocco, it is incredible that managing director David Wall survived. A little over a year later and he is now running one of the most heavily promoted oil exploration campaigns on AIM. People never learn, but this morning’s announcement from Tangiers, sorry I mean 88 Energy, fired a warning shot across the bow of anyone planning to hold this stock as a buy and hold.


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