By Josh White
Date: Thursday 15 Jul 2021
LONDON (ShareCast) - (Sharecast News) - 88 Energy announced on Thursday that, in relation to its agreement with Alaska Peregrine Development Company (APDC) for the acquisition of a 50% working interest in Project Peregrine, the final total number of shares issued to APDC was 633,457,196 - 190,634,537 lower than originally projected.
The AIM-traded firm said the reason for the lower final total was that the shares were issued in several tranches, and were subject to a final reconciliation mechanism.
"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," the board said in its statement.
"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.
At 1043 BST, shares in 88 Energy were up 1.54% at 1.98p.
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Currency | UK Pounds |
Share Price | 0.16p |
Change Today | 0.002p |
% Change | -1.25 % |
52 Week High | 0.45 |
52 Week Low | 0.16 |
Volume | 99,514,934 |
Shares Issued | 28,893m |
Market Cap | £45.65m |
Value |
---|
Price Trend |
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Income |
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Growth |
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No dividends found |
Time | Volume / Share Price |
16:35 | 799,999 @ 0.16p |
16:35 | 799,999 @ 0.16p |
16:34 | 9,000,000 @ 0.16p |
16:15 | 116,129 @ 0.16p |
16:15 | 625 @ 0.16p |
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