88 Energy Ltd (LON:88E) has told investors that it wont be having a physical AGM and instead it will take place online, via webcast, as the explorer seeks to comply with Australias coronavirus (COVID-19) social distancing rules.
Amid a ban on public gatherings, the company said in a statement: “88 Energy understands the importance of the AGM to its shareholders, however the health and safety of shareholders, employees and the broader community is paramount.”
“88 Energy appreciates the understanding of shareholders as it navigates this rapidly evolving situation in relation to the COVID-19 virus,” it added.
The AGM is due to take place on 9 April at 10:00am Perth time, or 3:00am London time (GMT+1).
On Tuesday this week, 88 Energy reported that the Charlie-1 well has reached target depth and it encountered shows and elevated log responses over several horizons.
The company, in a statement, said that the logging data to date is “largely consistent” with what was recorded at the Malguk-1 well, which was drilled in 1991 by BP.