88E 16.7% 0.5¢ 88 energy limited

Hi beast666,So what you are saying, is that Premier have just...

  1. 3,961 Posts.
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    Hi beast666,

    So what you are saying, is that Premier have just gone out side and throw out, in the wind 23 Million dollars.

    88 Energy has signed a Sale and Purchase Agreement (“SPA”) with Premier Oil Plc (“Premier”)
    whereby Premier will farm-in for a 60 per cent interest in Area A (also referred to as the Western Play
    Fairway) of the conventional Project Icewine acreage in the proven Alaska North Slope basin (see
    Fig. 1). 88 Energy will retain a 30% working interest in Area A with the remaining 10% working interest
    held by Burgundy Xploration LLC (“Burgundy”).

    Under the terms of the SPA, Premier will pay the full costs of an appraisal well, designated as
    Charlie-1, up to a total of US$23 million to test the reservoir deliverability
    of the Malguk-1
    discovery. The well will be drilled and tested in Q1 2020 with rig options having already been identified
    and contracting negotiations underway. On successful completion of the work programme, Premier
    will have the option to assume operatorship.

    http://clients3.weblink.com.au/pdf/88E/02137409.pdf

    Do your save a favour and read the announcement's or even better get your post removed.

    At least us share holders, under stand the risk.

    INHO

    Regards

    Rossi70


 
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