88 Energy Limited (AU:88E) has released an update.
88 Energy Limited has announced a significant increase in Contingent Resources for its Project Phoenix, with an over 50% rise to 378 million barrels of oil equivalent, including a net entitlement of 239 million barrels for the company. The updated figures are based on independent audits by ERCE and NSAI, highlighting Project Phoenix’s status as a multi-reservoir discovery with considerable potential for future commercialization. Additionally, strategic plans are being laid out for further project advancement, including potential partnership arrangements and an extended horizontal well flow test.
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