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88 Energy Limited — Share Issue/Capital Change 2021
Jul 14, 2021
10411_rns_2021-07-14_651a554c-af84-4a83-abcd-f4ac659f0188.pdf
Share Issue/Capital Change
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15 July 2021
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This announcement contains inside information
88 Energy Limited
100% Working Interest in Project Peregrine
88 Energy Limited (" 88 Energy " or the “ Company ", ASX:88E, AIM:88E, OTC:EEENF) is pleased to advise that in relation to the agreement with Alaska Peregrine Development Company LLC ( APDC ) for the acquisition of a 50% working interest in Project Peregrine (as announced to ASX on 7 June 2021), the final total number of shares issued to APDC was 633,457,196, which was 190,634,537 lower than originally projected. The reason for the lower final total was that the shares were issued in several tranches and were subject to a final reconciliation mechanism (as outlined in the ASX announcement).
No further shares are to be issued under the agreement and APDC has now received the full upfront consideration for its 50% working interest in Project Peregrine. APDC has also paid all outstanding cash calls due in relation to the Merlin-1 well.
88 Energy now holds a 100% working interest in Project Peregrine, located on the North Slope of Alaska.
The new capital structure of the Company is below:
| Issued Capital -Shares | |
|---|---|
| Ordinary Fully Paid Shares | 13,544,547,627 |
| Total Issued Capital | 13,544,547,627 |
APDC has also paid all outstanding cash calls due in relation to the Merlin-1 well.
This announcement has been authorised by the Board.
Yours faithfully
Ashley Gilbert Managing Director 88 Energy Ltd
www. 88energy.com
ABN 80 072 964 179
PO Box 352, Subiaco WA 6904 Australia Phone +61 8 9485 0990
Ground Floor, 516 Hay Street Subiaco WA 6008
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Media and Investor Relations:
88 Energy Ltd
Ashley Gilbert, Managing Director
Tel: +61 8 9485 0990 Email: [email protected]
Finlay Thomson , Investor Relations
Fivemark Partners , Investor and Media Relations Andrew Edge / Michael Vaughan
Tel: +44 7976 248471 Tel: +61 410 276 744 Tel: +61 422 602 720
EurozHartleys Ltd Dale Bryan
Cenkos Securities
Tel: + 61 8 9268 2829 Tel: + 44 131 220 6939
www. 88energy.com
ABN 80 072 964 179
PO Box 352, Subiaco WA 6904 Australia Phone +61 8 9485 0990
Ground Floor, 516 Hay Street Subiaco WA 6008