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88 Energy Limited ( (AU:88E) ) has provided an announcement.
88 Energy Limited has received a final payment of US$2.2 million from Burgundy Xploration LLC, strengthening its cash position to over A$10 million. This payment is part of a Farmout Participation Agreement related to Project Phoenix, which financially de-risks the project and allows 88 Energy to focus on advancing Project Leonis while Burgundy becomes the operator of Project Phoenix.
More about 88 Energy Limited
88 Energy Limited is an oil and gas exploration company focused on the exploration and development of oil resources. The company is involved in projects such as Project Phoenix and Project Leonis, with a market focus on energy resources, particularly in the Alaskan region.
YTD Price Performance: -18.29%
Average Trading Volume: 23,621,527
Technical Sentiment Signal: Strong Buy
Current Market Cap: £21.13M
For an in-depth examination of 88E stock, go to TipRanks’ Stock Analysis page.