done deal?7 Jun 2021 09:51
"88 Energy Limited ("88 Energy" or the “Company", ASX:88E, AIM:88E, OTC:EEENF) is pleased to
advise shareholders that it has entered into an agreement with Alaska Peregrine Development
Company, LLC (“APDC”) THAT WILL FACILITATE continuation of the exploration program at Project Peregrine
next winter. Under the agreement, 88 Energy will acquire a 50% working interest from Alaska
Peregrine Development Company, "
"Managing Director, Ashley Gilbert, commented: “This is an excellent outcome for our shareholders as
we now have full control of the project, including the possibility of further farm-out to a new partner
with greater technical and operational capability"
Raises a whole load of questions but does seem that APDC had to out of the way to enable another deal to be negotiated, the mention of "greater technical and operational capability" suggest an industry partner.
Dr Paul Craig who was I am sure part of APDC has recently announced his involvement in a geothermal project so perhaps his resources being directed there. I make that assumption on various information including recent petroleum news articles.