XCD Energy (ASX:XCD) holds a 100% Working Interest in 195,373 acres with a 1.6 billion barrels of oil prospective resource in the highly prospective Alaskan North Slope nearby to existing exploration and appraisal activities.
The company is pursuing the Nanushuk and Torok oil plays in what is one of the world’s most exciting yet already proven, new oil exploration hot spots.
XCD Energy is being acquired by 88 Energy (ASX:88E | LON:88E) via an unanimously recommended off-market takeover offer.
The merger creates an Alaska focused oil explorer with:
- A diversified portfolio of 3 key project areas; Project Icewine, Yukon Leases and Project Peregrine at various stages of project maturity;
- Board, management and technical team with proven operational capability and a track record for delivering on project objectives, together with access to an extensive network of global and Alaskan relationships – both business and technical; and
- Increased scale, market presence, funding capability and share trading liquidity across ASX and AIM.
The article below details XCD's operations and opportunities on the North Slope...