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(Sharecast News) - 88 Energy announced the execution of a binding agreement for the acquisition of a 73% average net working interest in established conventional oil and gas production assets in the proven Permian Basin, onshore Texas on Monday.
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88 Energy Ltd - Australia-based oil explorer in US state of Alaska - Raises AUD32 million gross proceeds, about GBP16.8 million, in oversubscribed share placement of 914.3 million shares at AUD0.035 per share. Price was 10% discount to volume weighted average price on ASX for the 30 days to February 9. The new shares will constitute around 5.8% of the enlarged issued share capital of 15.73 billion shares.
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Read more(Sharecast News) - 88 Energy announced its plans to raise AUD 20m (£10.6m) before expenses on Tuesday, to finance the drilling and logging of the Merlin-2 well, among other projects.
Read moreIN BRIEF: 88 Energy spots light oil at Merlin-1 well
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