Exploration company 88 Energy said it had received "overwhelming support" from investors who raised $3million to fund its purchase of extra acreage in Alaska.
88 Energy, which is currently drilling its flagship Icewine asset in Alaska, has expanded its footprint in the area after adding an additional 174,000 acres to its portfolio.
88 Energy has been hit by a delay to drilling operations at its Icewine #1 well in Alaska while repairs are carried out on the Kuukpik 5 drilling rig.
88 Energy continues to make progress with its flagship Icewine #1 exploration well in Alaska, with initial drilling going ahead as planned.
88 Energy's highly anticipated Icewine #1 project in Alaska is progressing according to plan, the company said in a drilling update.
88 Energy has started drilling at its major Icewine project in Alaska.
88 Energy Limited has confirmed it has received a Permit to Drill for the Icewine #1 exploration well from the Alaska Oil and Gas Conservation Commission.
88 Energy said it planned to submit its application for a drill permit for the Icewine #1 well in Alaska with the aim to start drilling before the end of the week.
88 Energy has reported a delay at its Icewine #1 exploration well while it awaits a drilling permit from Alaskan authorities.
88 Energy is set to begin drilling next month at Project Icewine, on Alaska’s North Slope.
Australian oil producer 88 Energy Limited has raised A$12 million through a shares issue.
88 Energy has hired a new drilling and management specialist to oversee its operations at Project Icewine in Alaska. Erik Opstad, who most recently worked for Savant Alaska, previously negotiated the acquisition of the Badami field from BP.