The company has cash-generating oil and gas operations with exploration upside.
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The company recently collected $2 million cash from a WA oil asset sale.
Managing director Adrian Cook has released a letter to shareholders this morning.
Although the well will be abandoned, evidence was discovered supporting the potential for oil nearby.
Cash from the fundraising is earmarked for 88 Energy’s share of drilling costs for the Winx-1 well, along with other exploration and corporate expenses
With farm-out deals, desktop de-risking and a well planned over the coming months it is an increasingly busy time for 88 Energy's conventional exploration portfolio in Alaska
The company has almost completed tests for its unique ship designed to transport compressed natural gas (CNG).
The company is spearheading a campaign to reduce capital costs for its flagship project.
The SNE oil field contains 640 million barrels of 2C contingent resources.
Casey Capital joins Merchant Funds and The Twentieth Century Motor Company as substantial shareholders in Brookside.
The explorer now sees the potential for 2.89bn barrels of crude in its conventional exploration prospects across the Project Icewine acreage
Drilling is targeting an estimated Prospective Resource of 825 million barrels of oil.
The company has already reduced costs by changing its design to follow natural land contours.
Two permits are needed for the work to start - a local building licence and permission to handle radioactive waste
The company’s executive chairman Eric Streitberg flagged Buru planned to bring the well into early production if it is a discovery.
The capital raising was supported by High Peak's directors who subscribed for 2.9 million shares.
The company’s business model is to expose investors to royalty income streams, its chairman Andrew Carroll will outline at this month’s Proactive Investors CEO Session in Sydney next Monday, October 22.
Three additional prospects are estimated to contain significant quantities of oil, gas and condensate.
Buru expects to solidly drill the Ungani West 1 exploration well for 32 days before moving equipment back to Ungani 4ST1 well.
Government support is vital for the development of the Kvanefjeld Project in Greenland.
The company generates value and revenue through royalties on oil and gas exploration, development and producing properties.
Field surveillance has found no impediments to the proposed location of wells for targeting the identified attic of oil.
Results from the parent well will enable Brookside to book significant proved undeveloped reserves.
New funds are earmarked for the upcoming Winx exploration well, due to spud in the first quarter of next year
The Salamanca project retains considerable support locally