Last week, 88 Energy successfully completed a A$6.75m placing through the issue of 540m new ordinary shares at 7p per share. The net proceeds, together with the 88 Energy's existing cash resources (which we estimate to be cA$5m) will be used to fund the ongoing evaluation of the conventional and unconventional prospectivity of the Company's existing assets, including any potential costs from the Charlie-1 well, due to spud during Q1/20, and exploit any new opportunities on the North Slope of Ala ....
17 Sep 2019
Cenkos: 88 Energy Ltd - Placing and Interim Results
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Cenkos: 88 Energy Ltd - Placing and Interim Results
88 Energy Limited (88E:LON) | 0.3 0 (-6.9%) | Mkt Cap: 71.6m
- Published:
17 Sep 2019 -
Author:
James McCormack -
Pages:
11
Last week, 88 Energy successfully completed a A$6.75m placing through the issue of 540m new ordinary shares at 7p per share. The net proceeds, together with the 88 Energy's existing cash resources (which we estimate to be cA$5m) will be used to fund the ongoing evaluation of the conventional and unconventional prospectivity of the Company's existing assets, including any potential costs from the Charlie-1 well, due to spud during Q1/20, and exploit any new opportunities on the North Slope of Ala ....