FinTechFunding

88 Energy: Secures new data for Icewine East, production lifts at Longhorn

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
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Steve Sam
Steve Sam
Steve Sam is a financial reporter, analyst, and commentator with a strong focus on banking technology, digital payments, and the future of financial services.

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