REG - 88 Energy Limited - Issue of Equity

88 EnergyAnnouncement

12/01/2024 14:30

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240112:nRSL5848Za&default-theme=true

RNS Number : 5848Z  88 Energy Limited  12 January 2024

12 January 2024

88 Energy Limited

Issue of Equity

88 Energy Limited (ASX:88E, AIM:88E, OTC:EEENF) (88 Energy or the Company)
confirms that it has issued a total of 84,618,000 fully paid ordinary shares
in the Company following the vesting of performance rights.

On 13 November 2023 the Company announced that it had entered into a
three-stage farm-in agreement with a wholly-owned subsidiary of Monitor
Exploration Limited ("Monitor"), through which 88 Energy would earn up to a
45% non-operated working interest in onshore Petroleum Exploration Licence 93
(PEL 93), located in the Owambo Basin, Republic of Namibia.  In accordance
with the terms of the farm-out agreement, the Company has now issued Monitor
with 322,147,513 ordinary shares in line with the agreed payment schedule.

Following the issue of the new ordinary shares above, the Company has a total
of 24,725,420,561 ordinary shares on issue, all of which have voting rights.
The figure of 24,725,420,561 ordinary shares may be used by shareholders as
the denominator for the calculations by which they will determine if they are
required to notify their interest in, or change their interest in, the
Company.

 

 

This announcement has been authorised by the Board.

 

 

Media and Investor Relations:

 

88 Energy Ltd

Ashley Gilbert, Managing
Director

 

Tel: +61 8 9485 0990

Email: investor-relations@88energy.com
(mailto:investor-relations@88energy.com)

 

 

Fivemark Partners, Investor and Media
Relations

Michael
Vaughan
Tel: +61 422 602 720

 

Euroz Hartleys Limited

Dale
Bryan
Tel: + 61 8 9268 2829

 

Cavendish Capital Markets
Ltd
Tel: + 44 131 220 6939

Neil McDonald / Derrick Lee

 

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  IOESFFFLEELSEEF