88 ENERGY ORD
88 Energy boosts resources by more than 50% at its Project Phoenix in Alaska
A new study has significantly increased the estimated contingent resources for 88 Energy’s (ASX: 88E) Project Phoenix in Alaska. In what is a potential game-changer for the project, the resource estimates for the SMD-B and SFS reservoirs have increased by more than 50%. Independently verified by auditor ERCE Australia, the reservoirs are now estimated to […]
88 Energy declares XCD takeover unconditional as it reaches 60% stake
88 Energy (ASX: 88E) is on track to create a more powerful Alaska oil and gas player as it declares its takeover offer for XCD Energy (ASX: XCD) unconditional. The company now holds 59.27% of XCD Energy’s shares and 28.53% of the listed options. The takeover offer is currently scheduled to close a week from […]
XCD directors recommend accepting 88 Energy takeover offer
The directors of Alaska-focused XCD Energy (ASX: XCD) have recommended shareholders accept the off-market takeover bid from fellow oil and gas player 88 Energy (ASX: 88E). 88 Energy has offered 2.4 new 88 Energy shares for every XCD share held and 0.7 new 88 Energy shares for every XCD listed option – a deal that […]
Harpoon discovery lessens risks and royalties for XCD’s Alaska projects ahead of merger with 88 Energy
XCD Energy (ASX: XCD) has used a nearby discovery to its Alaskan projects to renegotiate a lower royalty payment to the original owners of its project ground as it awaits a merger with fellow Alaskan player 88 Energy (ASX: 88E). The company said the discovery by ConocoPhillips during the recent winter drilling season at the […]