Fladgate advised leading securities firm Cenkos on the placing for the listed exploration company 88 Energy Limited in both the UK and Australia, which was implemented by way of an accelerated bookbuild. 88 Energy is an exploration company currently exploring onshore Alaska in a prolific liquids-rich area.
The proceeds of the Placing, together with 88 Energy’s existing cash reserves, will be used to fund the ongoing evaluation of the conventional and unconventional prospects of 88 Energy’s existing assets, including any potential costs in respect of the Charlie-1 well, which is due to be drilled in Q1 CY2020.
Lead Partner, Nigel Gordon, commented, “We have a longstanding relationship with Cenkos Securities plc and are delighted to be involved in this important deal to 88 Energy. We look forward to working with Cenkos and 88 Energy in the future.”
Nigel was supported by Corporate Associate Michael Beaber.
Fladgate has advised a variety of Corporate deals in recent months, including: