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88 Energy's permit application for Alaska operations hits snag as US suspends permit issuance for 60 days
StockMarketWire.com
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Energy exploration company 88 Energy's application for a permit to drill the NPR-A region of the North Slope of Alaska hit a snag after the US announced a 60-day suspension on the issuance of new drilling permits.
The suspension of authority for the Department Bureaus and Offices on for approvals had not been 'completely withdrawn but has been delegated to various higher positions within the government,' the company said.
The company said it was currently seeking clarification on a recently announced 60 day suspension
88 Energy submitted its permit to drill application on the 12th January 2021 and approval was expected within the standard 30 day timeframe i.e. on 12th February 2021.
'At this time it is uncertain whether this will have an impact on operations. We anticipate being able to get clarity on the situation within the next week,' the company said.
'We have a strong case to be granted the permit given the many permits that have already been granted as well as our considerable, and ongoing, operations in the field,' it added.
At 8:46am: (LON:88E) 88 Energy Ltd share price was 0p at 0.47p
Story provided by StockMarketWire.com
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