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88 Energy Ltd (AIM:88E, ASX:88E, OTCQB:EEENF, FRA:POQ) has secured a bullish endorsement from Cavendish, with the broker pointing to 1,786% upside despite a pending regulatory hurdle in Namibia. Cavendish reiterated its 'buy' rating and massive 19.8p price target following a strategic operational update on the group's highly prospective Namibian acreage.

88 Energy Ltd (AIM:88E, ASX:88E, OTCQB:EEENF, FRA:POQ) told investors that its Namibia joint venture has applied to move PEL 93 into its next two-year exploration phase, putting at least one exploration well on the work programme as nearby drilling provides further evidence of hydrocarbons in the Owambo Basin. The application covers a Second Renewal Exploration Period starting on 3 October 2026 and follows integration of around 6,000 line-kilometres of airborne geophysical data.