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88 Energy share trading halted in Australia as options deal anticipated

A series of share options would be due to expire in early March, unless exercised
oil and gas operations
88E will still trade in London

While it is not a particularly busy time for 88 Energy Ltd (LON:88E), as the company continues to wait out the Alaskan winter, some corporate activity is afoot.

88 Energy on Thursday told investors that share trading under its Australian listing has been halted, pending a news announcement related to the underwriting of listed options.

READ: 88 Energy looks forward to restarting activity in Alaska

The share options have a have a strike price of A$0.02, compared to 88E’s current price of A$0.028 in Australia. If they go unexercised the options would expire on March 2.

“The company confirms that no terms for any such underwriting have been agreed and there can be no guarantee that any transaction will be completed,” the company added.

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