88 Energy Ltd. (EEENF)
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88 Energy set to benefit as spotlight grows on Namibia venture
Analysts at UK-based stockbroker Cavendish have repeated a bullish call on 88 Energy Ltd (AIM:88E, ASX:88E, OTC:EEENF) as the small-cap exploration company today confirmed it has extended its venture onshore Namibia. Cavendish today repeated a remarkable 24.6p price target, which compares to 88 Energy's market price of just over a penny.
88 Energy to mop up longtail of small holdings
88 Energy Ltd (AIM:88E, ASX:88E, OTC:EEENF) has launched a ‘Small Holding Share Sale Facility' which aims to mop up a long tail of small shareholdings. It will buy out shareholders with "Less than Marketable Parcels" of shares, without using a broker or paying brokerage fees.
88 Energy confirms robust cash position as exploration work continues
88 Energy Ltd (AIM:88E, ASX:88E, OTC:EEENF) reported progress across its portfolio and said it ended the first quarter with A$10.60 million in cash. The dual-listed exploration company, in its mandatory quarterly activities report, recapped its operations to the end of March.
88 Energy receives farm-out funds for Phoenix
88 Energy Ltd (AIM:88E, ASX:88E, OTC:EEENF) told investors it has now received a final payment of US$2.2 million from Burgundy Xploration LLC, due under the farm-out at Project Phoenix, in Alaska. This payment follows a US$1 million instalment made in February and takes the explorer's cash position to over A$10 million, the company noted.
88 Energy's new farm-out deal has revealed the value being created at Phoenix
88 Energy Ltd (AIM:88E, ASX:88E, OTC:EEENF) new farm-out deal has shone a light on the asset value that's currently unrecognised by the share price. The Alaska-focused explorer on Monday announced it had agreed a new farm-out deal for the Project Phoenix horizontal test well, on Alaska's North Slope.
88 Energy inks new farm-out for Project Phoenix to fund horizontal well
88 Energy Ltd (AIM:88E, ASX:88E, OTC:EEENF) and its exploration partner, Burgundy Xploration LLC, have agreed a new farm-out deal for the Project Phoenix horizontal test well, on Alaska's North Slope. Burgundy will fund up to $39 million of future work costs in return for up to a 50% working interest in the project.
88 Energy reminds investors of the size of its opportunity in Alaska
‘Drill baby drill' may be the call coming from Washington DC, but in the City of London followers of Alaska-focused 88 Energy Ltd (AIM:88E, ASX:88E, OTC:EEENF) will be thinking ‘deal baby deal'. The small-cap explorer today once again underlined the untapped potential beneath its feet, with a large internal prospective resource estimate for its Leonis project.
88 Energy's new maiden resource estimate sees big opportunity at Leonis
88 Energy Ltd (AIM:88E, ASX:88E, OTC:EEENF) has confirmed a multi-reservoir opportunity at the Canning Prospect, part of Project Leonis in Alaska, with hundreds of millions of barrels estimated. The explorer, today unveiled its maiden resource estimate for Canning seeing up to 798 million barrels of prospective resources - covering the Canning prospect and the Upper Schrader Bluff (USB) formation.
88 Energy highlights financial position as it updates on projects
88 Energy Ltd (AIM:88E, ASX:88E, OTC:EEENF) ended 2024 with a A$7.2 million cash balance, and, multiple active projects. The dual-listed oil and gas junior, in its mandatory periodic ‘quarterly activities' report, highlighted the recent developments across the Project Phoenix (in Alaska), Project Leonis (Alaska), Project Longhorn (Texas) and Namibian assets.
88 Energy looks to 'rapidly unlock' potential of North Slope with Alaskan JV progressing
88 Energy Ltd (AIM:88E, ASX:88E, OTC:EEENF) said it is focused on 'rapidly unlocking' the huge potential of Project Phoenix on Alaska's North Slope. The comment, from managing director Ashley Gilbert, came alongside an update on the joint venture with Burgundy Xploration and the planned 2025/26 work programme, which includes a horizontal test well targeting the SMD-B reservoir.
88 Energy increases its Alaska footprint by acquiring 'highly prospective' leases
88 Energy Ltd (AIM:88E, ASX:88E, OTC:EEENF) has secured new leases in Alaska through its subsidiary, Captivate Energy Alaska.. The company won bids for four additional blocks next to its existing Project Leonis holdings.
88 Energy adds to acreage on Alaska North Slope
88 Energy Ltd (AIM:88E, ASX:88E, OTC:EEENF) has been declared the highest bidder for new licence blocks immediately adjacent to its Project Leonis acreage in Alaska. Subsidiary Captivate Energy Alaska bid on the four blocks, which cover an area of 10,203 acres and will expand Project Leonis' footprint to fourteen (14) leases covering approximately 35,634 contiguous acres.
