April 7 (Reuters) - 88 Energy Ltd 88E.AX :
* CHARLIE-1 CONFIRMS LARGE CONDENSATE DISCOVERY IN TOROK FORMATION
* CHARLIE-1 WELL PROVED PRESENCE OF MOBILE HYDROCARBONS IN FORM OF CONDENSATE GAS IN MIDDLE STELLAR & LOWER STELLAR TARGETS
* PREMIER INFORMED JV IT INTENDS TO WITHDRAW FROM PROJECT, AS CHARLIE-1 WELL DID NOT MEET PRE-DRILL EXPECTATIONS
* COST OF CHARLIE-1 WELL REMAINS WITHIN EXPECTED BUDGET & CO DOES NOT EXPECT TO INCUR COSTS FROM DRILLING