- CEO
- Guido Hilekes
- Full Time Employees
- 2
- Sector
- Energy
- Industry
- Oil & Gas Exploration & Production
- Address
- Hochwachtstrasse 4 Steinhausen ZG Switzerland 6312
- IPO Date
- Oct 9, 2012
- Business
- Octagon 88 Resources, Inc. (OCTX) is a natural resource company engaged in acquiring, exploring, and developing natural resource assets, primarily focused on oil and gas properties; it holds an indirect interest in CEC North Star Energy Ltd., which operates oil sands leases covering 73 sections or 46,720 acres with Bluesky-Gething channels and conventional heavy oil opportunities on the Erosional Edge of Elkton/Debolt formations, as well as a direct working interest in petroleum and natural gas leases known as the Trout Lake properties in the Province of Alberta, Canada. Founded in 2008 and headquartered in Steinhausen, Switzerland, the company targets conventional heavy oil assets in Northern Alberta through its subsidiary Octagon 88 Resources (Schweiz) AG and intends to expand operations in oil and gas assets across the United States and Canada. It has pursued mergers and acquisitions opportunities in the resource sector without generating revenues to date; notable past developments include a 2014 share purchase agreement to acquire a 22% stake in CEC North Star Energy Ltd. from Zentrum Energie Trust AG for $49 million and receipt of approval for the Elkton Well drill license that year, though no major funding rounds, new product launches, partnerships, or operational expansions have been reported in the last 1-2 years.