Replies to post #22833 on 88 Energy Ltd (EEENF)

[jfkspire]

$EEENF 88E’s partner is the Alaska Peregrine Development Corporation LLC (APDC), a high calibre group of private US individuals with experience in oil and gas. This includes owning businesses that directly operate in the sector.

88E only needed to contribute US$1.3M, representing its 50% ownership share over and above a US$10M carry. All additional costs associated with the project above the US$10M carry were to be borne equally by both and 88E.

This was a good deal for a small cap oil explorer like 88E. It allows the company to retain 50% of the upside, without having to outlay a large sum for drilling. It is close to a 2 for 1 deal for 88E investors.
.................https://www.energyvoice.com/promoted/284872/lon-88e-north-slope-articleisfree/

True,, this is not Rocket Science to the eyes that can see what these Whales-(APDC) are doing...

$EEENF