StockMarketWire.com - 88 Energy said it and partner Burgundy Xploration had signed an exclusivity agreement with a preferred bidder interested in taking a stake in their Alaksan joint venture.

The companies are trying to find a new partner for their conventional prospect portfolio at Project Icewine, located on the Central North Slope of Alaska.

The exclusivity agreement had been signed to facilitate near-term operational activity, whilst final terms were agreed on the proposed sale.

The bidder, which was not identified, had paid $500k to the JV to go toward a 2020 drilling program.

Exclusivity had been granted until 31st August.


At 2:25pm: (LON:88E) 88 Energy Ltd share price was -0.03p at 0.98p



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