88 Energy secures US$2m from Project Phoenix JV partner
6 days ago
88 Energy receives $2.0m from its Project Phoenix JV partner, Burgundy Xploration, as part payment for outstanding cash calls. A standstill agreement has been extended until January 31, 2024, allowing Burgundy more time to pay the remaining outstanding amount. If not paid by then, 88 Energy will receive 50% of Burgundy's working interest in Project Phoenix.