88 Energy (ASX: 88E) inks FIA for staged entry into Namibian PEL 93

November 14, 2023 05:59 PM AEDT | By Manisha

88 Energy (ASX: 88E) inks FIA for staged entry into Namibian PEL 93 — Image source: Pixabay

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Highlights

88 Energy has executed a farm-in agreement to earn a 45% working interest in PEL 93 in Namibia

The agreement will provide 88E access to a lead portfolio, including ten independent structural closures detected after multiple geophysical and geochemical techniques.

88E is looking forward to acquire 200 line km low-impact 2D seismic in mid-2024.

88 Energy Limited (ASX: 88E, AIM: 88E) has executed a three stage farm-in agreement to partner with Monitor Exploration Ltd for a 45% non-operated working interest in Petroleum Exploration Licence 93 (PEL 93) in Namibia.

The FIA has been inked between Eighty Eight Energy (Pty) Ltd, a wholly owned subsidiary of 88 Energy and Monitor Oil and Gas Exploration Pty Ltd, a wholly owned subsidiary of Monitor.

88E shares traded at AU$0.006 apiece at the time of writing on 14 November 2023.

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