Group 1 - 88 Energy Ltd aims to raise up to £2.62 million (A$5.03 million) to fund drilling plans in Alaska, pricing the issue at A$0.029 per share, which is a 2.7% discount to the company's AIM close on Tuesday [1] - The net proceeds will support advanced planning for the Augusta-1 exploration well, including permitting, long-lead items, rig contracting, and payments related to newly secured leases at South Prudhoe and Kad River East [2] - Augusta-1 is the highest-priority target for the company in Alaska, with a rig contract expected in Q2 2026 and a farm-out process targeted for Q3 ahead of a planned winter drilling window in Q1 2027 [2] Group 2 - As of February 28, 88 Energy had cash resources of A$5.9 million and expects the capital raise to fund at least 12 months of working capital and overheads [3]