The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
On January 24 this year, 88 Energy Ltd. (OTCQB: EEENF) announced it had begun trading as an OTCQB stock. The company engages in the exploration of oil and gas properties in the United States. The company just confirmed last week that their Permit to Drill has been approved by the Bureau of Land Management for the Merlin-2 appraisal well, located in Project Peregrine in the NPR-A region of the North Slope of Alaska. The Merlin-2 well is now scheduled to spud in early March 2022 with drilling expected to take approximately 3 - 4 weeks, including wireline logging. The Merlin-2 appraisal well is planned for a Total Depth of 8,000 feet and is targeting 652 million barrels of oil. With oil prices holding strong, EEENF looks like a winner.Read what people are saying about an AMC’s short squeeze for 2022, and the oil holdings EEENF has in Alaska in our full report READ MORE – https://tradersnewssource.com/cannabis-alcohol-short-squeeze-new-blockchain-report/
I take it news by 11th March 2022, based on 2 months from 11th January?
"Finablr PLC (the "Company") has received notice from the Registrar of Companies on 11 January 2022 that, unless cause is shown to the contrary within 2 months of the date of the notice, the Company will be struck off the register and dissolved. The Company is currently in the process of resolving the queries raised by Companies House in relation to the striking off notice and will release further updates in due course."
"I mentioned that $eeenf has 4 subsidiaries in Houston. The Operator of Merlin 1 & 2 is Emerald House,the address is in Houston Texas. Erik Opstad runs all 4 companies. He is also the VP-Alaska for 88E and has been “Mr Alaska”for 30 years. Dots are connecting…Houston trade show"
https://twitter.com/StevenStocks5/status/1491995367302443010?s=20&t=Ng236FuNcsG3xGrQVPgWpw
NAPE is the energy industry’s marketplace for the buying, selling and trading of prospects and producing properties. NAPE brings together all industry disciplines; draws in decision-makers; focuses its participation on prospect generators; and hosts companies of all sizes, from small independents to majors. With the addition of renewable energy sources to our oil and gas offerings, NAPE is the ultimate venue for energy deals.
https://napeexpo.com/summit
1:41 AM · Feb 11, 2022
88 Energy Ltd
@88EnergyLtd
We are attending the NAPE Summit, held at the George R. Brown Convention Center in Houston, Texas. If you’re in the area, drop in to our booth and say hi!
$EEENF #88E #energy
https://twitter.com/88EnergyLtd/status/1491950379810304000?s=20&t=HaO375t7okbkM6LgpmduJw
In particular, the Company notes that it has recently signed a non-binding Memorandum of Understanding ("MoU"Wink relating to a potential acquisition of a conventional producing oil and gas asset in the Permian Basin, Texas, USA. The key commercial terms of the potential acquisition as outlined in the non-binding MoU are for the Company to acquire a 75% non-operating working interest in the project for consideration of approximately US$9 million as well as a further US$1.6 million working capital fund, to be paid in cash and 88 Energy shares. The non-binding MoU contemplates that the vendor, Lonestar I LLC, will remain as Operator of the project. 2021 gross production at the project totalled approximately 110,000 BOE, with a planned work program in 2022 expected to increase production. There are no certified reserves available for the project at this stage, and the Company would expect to release certified reserves to the market on announcing a binding agreement to proceed with the acquisition, should the transaction proceed. As noted above, the Company has only entered into a non-binding MoU in relation to this potential acquisition at this stage, with due diligence advanced and final documentation nearing completion. The Company expects that the documentation will be executed imminently. However, execution and completion of the potential transaction is not guaranteed and remains subject to all final documentation being agreed and due diligence completed. There is no guarantee that negotiations will lead to a binding agreement or a completed transaction, or that the final terms will be as set out in the non-binding MoU.
https://www.forbes.com/sites/rrapier/2019/04/05/the-permian-basin-is-now-the-worlds-top-oil-producer/?sh=4ca1a0383eff
Apr 5, 2019,
08:00am EDT
|
38,911 views
The Permian Basin Is Now The World's Top Oil Producer
Robert Rapier
This article is more than 2 years old.
"In particular, the Company notes that it has recently signed a non-binding Memorandum of Understanding ("MoU") relating to a potential acquisition of a conventional producing oil and gas asset in the Permian Basin, Texas, USA."
The non-binding MoU contemplates that the vendor, Lonestar I LLC, will remain as Operator of the project. 2021 gross production at the project totalled approximately 110,000 BOE, with a planned work program in 2022 expected to increase production.
https://www.investegate.co.uk/88-energy-limited--88e-/rns/proposed-placing-to-raise-up-to-a-30.0-million/202202100801382820B/
In particular, the Company notes that it has recently signed a non-binding Memorandum of Understanding ("MoU") relating to a potential acquisition of a conventional producing oil and gas asset in the Permian Basin, Texas, USA. The key commercial terms of the potential acquisition as outlined in the non-binding MoU are for the Company to acquire a 75% non-operating working interest in the project for consideration of approximately US$9 million as well as a further US$1.6 million working capital fund, to be paid in cash and 88 Energy shares. The non-binding MoU contemplates that the vendor, Lonestar I LLC, will remain as Operator of the project. 2021 gross production at the project totalled approximately 110,000 BOE, with a planned work program in 2022 expected to increase production. There are no certified reserves available for the project at this stage, and the Company would expect to release certified reserves to the market on announcing a binding agreement to proceed with the acquisition, should the transaction proceed. As noted above, the Company has only entered into a non-binding MoU in relation to this potential acquisition at this stage, with due diligence advanced and final documentation nearing completion. The Company expects that the documentation will be executed imminently. However, execution and completion of the potential transaction is not guaranteed and remains subject to all final documentation being agreed and due diligence completed. There is no guarantee that negotiations will lead to a binding agreement or a completed transaction, or that the final terms will be as set out in the non-binding MoU.
Following the encouraging drilling results from the Talitha-1 well neighbouring the Project Icewine acreage in Q1 2021, 88 Energy's geoscience team has continued to advance the re-assessment of its Project Icewine acreage with an u pdated prospective resource estimate anticipated to be finalized in Q1 2022 ahead of a potential farm-out of the Company's interests.
The Company is in advanced negotiations with nearby lease owners to the Yukon acreage for a joint development area, which has the potential to unlock value in this area. Work is underway to assess scenarios and costs of a future possible development of discoveries in the Yukon lease region as well as potential drilling and flow testing of discoveries.
The Company has also actively assessed multiple new venture opportunities across the asset life cycle to expand portfolio of assets and opportunity types, targeting assets that are complimentary to the existing portfolio and provide shareholders with exposure to additional value creation. Such potential opportunities are not announced until such time as the Company has agreed the material commercial and legal terms with the relevant counterparty or counterparties, and customary due diligence is completed. Until the material commercial and legal terms have been agreed and due diligence completed, there can be no guarantee that such discussions, whether or not they have been disclosed, will lead to the announcement or completion of a binding agreement.