Oct 25 (Reuters) - 88 Energy Ltd 88E.AX :
* Agreement for A$11m placement
* Net proceeds from placement will be used to strengthen company's balance sheet
* Company will issue 275m ordinary shares of no par value ("new ordinary shares") at a price of a$0.04 ) per ordinary share Source text for Eikon: ID:nASXs01BG Further company coverage: 88E.AX