88 Energy Ltd EEENF

Energy Oil & Gas E&P

88 Energy Limited is an Australia-based oil and gas exploration and production company with a North American focus. The Company has operator exploration interests in onshore Alaska and non-operator production interests in onshore Texas. Its Project Phoenix is situated on the Central North Slope, Alaska. Its Project Leonis consists of 10 leases covering approximately 25,600 contiguous acres immediately south of Prudhoe Bay on the North Slope of Alaska. It owns a 45% non-operated working interest in onshore Petroleum exploration license 93 (PEL 93), located in the Owambo Basin, Republic of Namibia (Namibia). Its Project Icewine is situated on the Central North Slope, Alaska and covers an area of approximately 193,000 acres. The Company, through its joint venture subsidiary, Bighorn Energy, LLC, holds a 75% ownership interest in Bighorn Phase 3, which is located in the Permian Basin, Texas, United States.

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88 Energy Ltd > News

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Comment by farml1234on Nov 13, 2023 8:05pm

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Post# 35733269

RE:News

EEENF - funding

How to finance the new Africa venture? Why, just the usual way.
By issuing 322,147,513 new shares to water down our share price. (When they say 'fully paid' ordinary shares, they mean fully paid by us.)
__________________________________________
Announcement Summary
Entity name
88 ENERGY LIMITED
Announcement Type
New announcement
Date of this announcement
13/11/2023
The Proposed issue is:
Total number of +securities proposed to be issued for a placement or other type of issue
ASX +security code +Security description
Maximum Number of
+securities to be issued
88E ORDINARY FULLY PAID 322,147,513
Proposed +issue date
17/11/2023
source: https://wcsecure.weblink.com.au/pdf/88E/02739245.pdf

jmho

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