Scandoil  

88 Energy acquires additional Icewine acreage


Published Nov 20, 2015
88 Energy Ltd

88 Energy Limited is pleased to provide the following update.

Additional 174,000 Gross Acres Acquired

100% owned subsidiary of 88 Energy, Accumulate Energy Alaska Inc, in conjunction with Joint Venture Partner, Burgundy Xploration LLC (88 Energy 78%, Burgundy 22%), was confirmed as the high bidder on 174,240 acres on November 18th (Alaska time) at the North Slope Areawide Bid Sale.

The Joint Venture has contributed a non-refundable 20% downpayment of US$947,000 to secure the rights to the acreage. As per the previous bid round in 2014, finalisation of the acquisition is subject to formal award and payment of the remainder of the bid (80%) plus US$10 per acre rentals (~US$5.5m in total).

Tags: 88 Energy Ltd




Advertisment:

Add a Comment to this Article

Please be civil. Job and promotion will not be added into the comment page.

(Use Markdown for formatting.)

This question helps prevent spam:

+ Larger Font | + Smaller Font
Top Stories

 

 

 

 


 


RSS

RSS
Newsletter
Newsletter
Mobile News
Mobile news

Computer
Our news on
your website


Facebook
Facebook
Twitter
Twitter

Contact
Contact
Tips
Do you have any
tips to us
Stats

 

sitemap xml