Scandinavian Oil-Gas Magazine
http://www.scandoil.com/moxie-bm2/by_province/americans_offshore/alaska/88-energy-raises-3mn-to-support-icewine-expansion.shtml88 Energy raises $3mn to support Icewine expansion
88 Energy has successfully raised $3mln though an oversubscribed share placing. The company will also open a share purchase plan to eligible existing shareholders with
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88 Energy has successfully raised $3mln though an oversubscribed share placing.
The company will also open a share purchase plan to eligible existing shareholders with a view to raising a further $2mln.
It comes after the company significantly increased its position on Alaska’s North Slope, an area referred to as Project Icewine, where it is currently drilling a potentially high impact exploration well.
The well is designed to test a large shale play, as well as a number of conventional oil and gas targets.
