88 Energy Limited (AU:88E) has released an update.
88 Energy Limited has reported a successful quarter with dual success at Project Phoenix’s Hickory-1 flow test, producing light oil at promising rates, setting the stage for further development and potential monetization. The company also commenced planning for Project Leonis, estimating a significant prospective resource and is seeking a funding partner for the Tiri-1 well. Additionally, 88 Energy completed a seismic acquisition program in Namibia and reported increased production and cash flow from Project Longhorn, with a solid cash balance and fully funded activities for the coming year.
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