88 Energy Limited (AU:88E) has released an update.
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88 Energy Limited has initiated a 2D seismic acquisition program in Namibia’s Owambo Basin under its Petroleum Exploration Licence 93, earning the company a 20% interest with options to increase to 45%. The program aims to gather over 200-line km of data, which will contribute to identifying potential drilling sites and estimating the region’s maiden Prospective Resource. This effort is part of a broader regional exploration renaissance that has seen a high success rate in offshore oil discoveries.
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