Ann: Trading Halt, page-69

"88 Energy Limited ("88 Energy" or the "Company", ASX:88E, AIM 88E) is pleased to advise that further to the announcement by the Company on 8 November 2018, it has successfully completed a bookbuild to domestic and international institutional and sophisticated investors to raise approximately £5.56 million (equivalent to A$10.0 million), before expenses (the "Placing") through the issue of 555,555,600 ordinary shares (the "New Ordinary Shares") at £0.01 (equivalent to A$0.018) per New Ordinary Share (the "Placing Price"). The Placing follows the closure of the non-renounceable rights issue (for AIM purposes, the 'open offer') announced by the Company on 3 October 2018 ("Rights Issue").


As at 30 September 2018, the Company had cash resources of A$8.1 million (prior to the receipt of gross proceeds of A$3.6 million pursuant to the Rights Issue). Funds raised pursuant to the Placing will be used with existing cash reserves to fund the Company's ongoing evaluation of the conventional and unconventional prospectivity of existing assets, including drilling of Winx-1 in Q1 2019, and to enable it to identify and exploit new opportunities on the North Slope of Alaska"

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