Australia

88 Energy to host AGM online to comply with coronavirus rules on social distancing

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.”

READ: 88 Energys Charlie well sees shows in multiple horizons

“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.

The well programme is partnered with Premier Oil PLC (Read More – Source