88 Energy has executed definitive farmout documents to farmout a 50% working interest at Project Peregrine in exchange for a US$10m carry on in the Merlin-1 exploration well. Given the current oil and gas environment, to be able to achieve a close to two for one deal is quite remarkable, and is testament to the quality of the Project Peregrine acreage. The Merlin-1 exploration well is on track to spud in February 2021, and will be targeting the 645mmbbl Merlin prospect, situated on trend with th ....
04 Dec 2020
Cenkos: 88 Energy Ltd -- A Remarkable Deal
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Cenkos: 88 Energy Ltd -- A Remarkable Deal
88 Energy Limited (88E:LON) | 0.2 0 4.7% | Mkt Cap: 56.5m
- Published:
04 Dec 2020 -
Author:
James McCormack -
Pages:
8
88 Energy has executed definitive farmout documents to farmout a 50% working interest at Project Peregrine in exchange for a US$10m carry on in the Merlin-1 exploration well. Given the current oil and gas environment, to be able to achieve a close to two for one deal is quite remarkable, and is testament to the quality of the Project Peregrine acreage. The Merlin-1 exploration well is on track to spud in February 2021, and will be targeting the 645mmbbl Merlin prospect, situated on trend with th ....