As at 31 December 2020, there were 1,405,964,855 (2019: 1,405,964,855) ordinary shares in issue. Additionally, a total of up to 94,840,450 (2019: 88,308,192) new ordinary shares may be issued pursuant to the exercise of share options.
We appreciate that these early results may be difficult to interpret. That is because we do not yet have all the data required to allow interpretation. This means some uncertainty remains; however, it is already clear that Merlin-1 has delivered by far the best outcome of any of the 5 wells drilled by 88 Energy in Alaska over the last 6 years.