The recently expanded Alaska explorer is advancing multiple projects towards farm-out deals designed to bring new well catalysts for the future
88 Energy completed its merger with XCD Energy this summer to acquire the Project Peregrine where, as announced last month, new seismic data analysis boosted prospects.
At the same time, the company has retaken control of the ‘Area A’ portion of Project Icewine and recently expanded its stakeholding to 75%.
In a quarterly update, the company said efforts continue to advance the substantial shale resources at Icewine.
The explorer, meanwhile, added that talks are continuing in regards the Yukon acreage to optimise the monetisation strategy and permitting continues. The plan is to bring this project area to a farm-out also.
88 Energy noted that it ended the quarter with A$4.68mln of cash and equivalents.
Read More: 88 Energy Limited highlights Alaska progress as it eyes fresh farm-outs