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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
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