Here’s why the 88 Energy (ASX:88E) share price is accelerating 12% today

The 88 Energy Ltd (ASX: 88E) share price is on the move today after the company announced an operations update. During mid-afternoon trade, the energy exploration company’s shares are swapping hands for 3.5 cents, up 12.9%.

Let’s take a close look and see what 88 Energy updated the ASX with.

What did 88 Energy announce?

Investors are pushing the 88 Energy share price higher after positively receiving the company’s latest news.

In its announcement, 88 Energy advised it has detected potential hydrocarbon-bearing zones whilst conducting drilling operations at its Merlin-1 well. The site is located within the company’s Project…