88 Energy Limited (AU:88E) has released an update.
88 Energy Limited has announced a significant maiden Prospective Resource estimate of 381 million barrels of oil for its Project Leonis, located strategically on Alaska’s North Slope with planning already underway for the Tiri-1 exploration well. The company is in the process of securing a funding partner for drilling and is also focusing on Project Phoenix, aiming for cash flow from horizontal wells within the next two years. While several parties are assessing the Project Leonis farm-out opportunity, the company is also looking to divest from other projects to strategically focus on key acreage positions.
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