logo-loader
view88 Energy Ltd

88 Energy expands exploration footprint in Alaska

"Tract 29 is considered highly prospective as there is evidence of existing discoveries to the west extending into this area,” said managing director Dave Wall

88 Energy Ltd - 88 Energy expands exploration footprint in Alaska

88 Energy Limited (LON:88E, ASX:88E) said it is set to expand its footprint in Alaska as the group has been named as the high bidder on the Tract 29 area, via the 2021 Coastal Plain Lease Sale.

Tract 29 is positioned as a 23,446 acre area adjacent to the company’s Yukon leases.

The company described the expansion as “a logical step in the company's aggregation strategy” in the North Slope region.

READ: 88 Energy “full steam ahead” to Merlin well

"Tract 29 is considered highly prospective as there is evidence of existing discoveries to the west extending into this area,” said Dave Wall, 88 Energy managing director in a statement.

“We have had our eye on this lease for some time and are extremely pleased to have been announced high bidder in the recent lease sale. We look forward to providing more detail on this area in the near future," he added.

Quick facts: 88 Energy Ltd

Price: 0.57 GBX

AIM:88E
Market: AIM
Market Cap: £60.77 m
Follow

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of 88 Energy Ltd named herein, including the promotion by the Company of 88 Energy Ltd in any Content on the Site, the Company receives from said...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Market Report: FTSE brushes off record UK Covid-19 cases as vaccine optimism...

FTSE 100 started on the front foot although daily cases of Covid-19 in the UK topped 60,000 for the first time on Tuesday. London’s leading index advanced 31 points to 6,643 in early trading. The latest Covid figures have revealed that one in 50 people in private households in England had...

2 weeks ago

2 min read