88 Energy to Acquire Alaska-Focused XCD Energy

Updated 1 year 4 months ago

88 Energy and XCD Energy have agreed to merged with 88 Energy acquiring all of the ordinary shares and options in XCD via an off-market takeover. XCD owners will receive 2.4 new 88 Energy shares for each ordinary share and 0.7 new shares for each XCD option. The combined company will have three prospective areas in Alaska: Project Icewine (88 Energy), Yukon Leases (88 Energy), and Project Peregrine (XCD). 88 Energy is being advised by Longreach Capital while XCD is advised by Taylor Collison.