88 Energy and Burgundy amend Phoenix arrangements

88 Energy Ltd (AIM:88E, ASX:88E, OTCQB:EEENF, FRA:POQ) has tightened its contractual position at Project Phoenix in Alaska while giving joint venture partner Burgundy Xploration more time to complete funding ahead of a planned US listing. The company agreed to extend Burgundy's funding milestone under the Participation Agreement to 30 September, aligning the timetable with Burgundy's initial public offering process.