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88 Energy (ASX:88E) secures approval for unit formation over Project Phoenix lease area - Kalkine Media

February 28, 2023 04:45 PM AEDT | By Team Kalkine Media
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Highlights

  • 88 Energy is moving ahead with the formation of a unit over its Project Phoenix acreage.
  • The development follows approval from the Alaskan Department of Natural Resources (DNR), Oil and Gas Division.
  • The unit approval has extended the leases beyond their primary term.
  • Moreover, the development led to the extension of the Unit Plan of Exploration to February 2028.

In a major development, the Alaskan Department of Natural Resources (DNR), Oil and Gas Division has given green signal to 88 Energy Limited (ASX:88E, AIM:88E, OTC:EEENF) to create a unit over its Project Phoenix acreage.

88 Energy is an oil and gas company, operating Project Phoenix on the central North Slope of Alaska.

The development means that the leases have been extended beyond their primary term, while the Unit Plan of Exploration has been extended to February 2028.

Source: © 2023 Krish Capital Pty. Ltd.

 

88E shares traded at AU$0.011 on 28 February 2023.

More to come…

 

 


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