Energy, Power & Resources

88 Energy Ltd



Transaction type Equity Capital Markets & Corporate Broking

Sector Energy, Power & Resources

“We are now fully funded to undertake Hickory-1 flow test operations during the upcoming winter operational season in Alaska. Burgundy’s failure to rectify its payment default to date is disappointing, but the additional funds raised provide strategic options for 88 Energy.”

Ashley Gilbert
Managing Director
88 Energy

Cavendish is pleased to have acted as nominated adviser and sole broker in the UK for 88 Energy Ltd on its oversubscribed A$9.9 million equity raise.

88 Energy is a dual-listed oil and gas exploration and production company with a North American focus, with established Operator exploration interests in onshore Alaska and non-operator production interests in onshore Texas. The Company has been operating on the North Slope of Alaska since 2015 across multiple exploration wells under a large acreage position.

Derrick Lee at Cavendish expressed confidence in the success of the deal, commenting:

“This oversubscribed equity raise underscores the market’s strong belief in 88 Energy’s potential. We are delighted to have supported 88 Energy in facilitating this transaction and contributing to the financial success of our client.”