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Broker Cavendish forecasts 13x upside for 88 Energy after Namibia deal reshapes funding and retains 20% stake

Analyst Insights
11 May 2026
Proactive Investors
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Bullish
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Broker Cavendish highlights a potential 1,366% gain for 88 Energy following a restructured Namibia farm-in deal that removes $15 million funding risk but keeps a 20% stake in PEL 93. The revised agreement eliminates future funding obligations and reassignment risk, allowing 88 Energy to focus on its Alaskan assets while maintaining exposure to exploration upside. Improved survey data strengthens drilling prospects, and nearby ReconAfrica activity could provide further positive catalysts if successful.

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