88 Energy Ltd (LON:88E, ASX:88E) has informed investors of the death of Paul Basinski, who was the founder of joint venture partner Burgundy Xploration.
Basinski was a storied frontier exploration geologist who was credited as one of the first to identify the potential of the Eagle Ford shale play in Texas, which ultimately became one of the main sources of the US shale boom.
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Significantly for 88 Energy, he authored the exploration concept that underlies the current campaign in Alaska where alongside Burgundy Xploration it has unearthed the HRZ shale.
His death came as a result of unexpected complications following a heart transplant operation.
"The loss that we are all feeling is impossible to put into words,” said Dave Wall, 88 Energy managing director.
“Paul was a larger than life character who I am proud to say was not just a JV Partner but also a friend.
“We will continue to pursue the HRZ play that Paul was instrumental in generating for us, as he would have desired.”