88 Energy has announced that it has reached an agreement to acquire an additional 50% working interest in Project Peregrine from Alaska Peregrine Development Company (APDC). The initial upfront consideration of US$14m is payable in new 88 Energy shares, allowing 88 Energy to preserve cash ahead of the 2021-22 winter drilling season. Further contingent payments are due on the Company achieving certain success based milestones and represent just a fraction of the total value on success to 88 Energ ....
09 Jun 2021
Cenkos: 88 Energy Ltd -- Buying Back Project Peregrine
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Cenkos: 88 Energy Ltd -- Buying Back Project Peregrine
88 Energy Limited (88E:LON) | 0.3 0 0.0% | Mkt Cap: 64.7m
- Published:
09 Jun 2021 -
Author:
James McCormack -
Pages:
6
88 Energy has announced that it has reached an agreement to acquire an additional 50% working interest in Project Peregrine from Alaska Peregrine Development Company (APDC). The initial upfront consideration of US$14m is payable in new 88 Energy shares, allowing 88 Energy to preserve cash ahead of the 2021-22 winter drilling season. Further contingent payments are due on the Company achieving certain success based milestones and represent just a fraction of the total value on success to 88 Energ ....