88 Energy Secures new data for Icewine East, production lifts at Longhorn
- 88 Energy (88E) has signed a licensing agreement with SAExploration (SAE) to utilise its Franklin Buffs 3D Seismic data for its Project Icewine East leases in Alaska
- In order to acquire the data, the company will pay US$1 million (A$1.44 million) in shares to SAE
- In other news, the company has reported an increased production rate at the joint venture Longhorn project in Texas
- To accelerate activities further, the company will issue US$3 million in shares to help fund the project’s capital development program
- In early trade, shares were flat at 0.8 cents each at 12:19 pm AEST
