Ticker: <$EEENF>
Description of why you are requesting DD: <Been stepping up steadily for about a month. Positive news. But may get hung up by environmentalist efforts. Been accumulating since last year when at this time/season it popped on positive new something like 300%. Recently listed on OTCXB so more exposure to investors. Debt free. It is OTC so expensive to trade. What am I not seeing? Would love other opinions on this and if anyone has any insight.>
Applicable links to news articles or Reddit analysis: <(eeenf - Google Search)>
So I played this last year before the pop just by complete luck. Here are a couple bad things I remember/learned:
Like lots of pennies i’m pretty sure the have billions of shares circulating
Last year they diluted
There is a drilling “season” in Alaska (again, didn’t know anything just got lucky lol) so this will be a rug pull like last year. Doesn’t men you can’t play the run up though.
Its an Australian company so news comes out during the evening for those of us on eastern time. So last year while they would release good updates each week or two there was the one where around 8:00 p.m. eastern they said the drill got stuck or something and they will try again next year. And now its been a year
Some good I remember:
It had a pretty good and consistent run up for around a month (I think) until it rugged due to the drilling issue. It did in fact go 300%. .02 -.06 roughly for what its worth.
I think the main problem with this is i’m unsure of the feasibility of playing this unless its a relatively small amount of money. Its an actual penny stock so i’m not sure if I could drop thousands into this and be able to sell. Not saying I have that kind of buying power, but just for some of the bigger players in the server. Also no options. I could see it going up again to make a couple hundred or thousand but again no idea how liquid this is even with the billions of shares. That 300% was relatively quick if I remember correctly.
Hope this is somewhat helpful from someone who played it last year. Nothing technical but it is just what I remember. I personally haven’t touched penny stocks since then and probably won’t again but that doesn’t mean you can’t double some fun money relative to you with this. Just be mindful of the date when it dropped last year because whenever that is was the end of their drilling season.
Also forgot. During that time this was pumped heavily on r/pennystocks. So that was probably most of it. Could always be wrong but I assume if you don’t see that getting pumped anywhere then it probably won’t repeat the same behavior as last year.
Thanks for responding. I really appreciate it. Nice luck last year to get in before that pop!! How did you get out? Did you have a price target or % gains target? Looks like season ended in April last year, so I would be looking for 100% gain between now and then? But does feel like rug pull very possible at any point on bad news
I didn’t have any targets of any sort. Just like options first ones always free lol. I doubled it just prior then sold. Then put it all back in before the triple then got rugged. I forget if I went to even before or after the double, I think after. You will just have to keep up with their news/weekly releases if they are still doing that and just hope it’s good news. Also reddit. Again it’s just a complete gamble if they hit the oil this year. I think last was confirming discovery but got cut short. Good luck if your playing it!