RE: 88 Energy starts next phase in solid financial position15 Sep 2020 22:27
88E has just revealed that it intends to drill two, low cost wells to explore Project Peregrine in early 2021.
These wells will be testing the resource potential of Peregrine, with the aim of unlocking the next major oil discovery on the North Slope.
To that end, it won’t be funding it on its own.
As 88E currently holds 100% of the project, it intends to do a farm out deal with other partners that want exposure to near term upside.