88 Energy Share News (88E)

(Sharecast News) - 88 Energy said on Tuesday that it has secured access to the Schrader Bluff 3D seismic dataset, strengthening the technical foundation for exploration across its South Prudhoe acreage on Alaska's North Slope.

The AIM- and ASX-traded explorer said the high-resolution dataset, recently released by the Alaska Department of Natural Resources, provided subsurface coverage across the North-West Hub of the South Prudhoe leases, adjacent to the Prudhoe Bay Unit, the largest onshore oilfield in the United States.

It said access to the survey aligned with its data- and infrastructure-led exploration strategy and materially enhanced confidence in future exploration decisions.

Interpretation of the Schrader Bluff 3D seismic was expected to support the maturation of multiple prospects, inform an internal update to prospective resource estimates and assist in optimising future well locations near existing producing fields and infrastructure.

The dataset would be integrated into 88 Energy's internal exploration database to support planning for a drilling programme currently scheduled for the first quarter of 2027.

It said the survey would improve structural and stratigraphic interpretation across the South Prudhoe leases and advance prospect definition in the Ivishak and Kuparuk reservoirs, as well as the shallower Brookian intervals.

The data was also expected to help de-risk several low- to moderate-risk structures identified on other 3D datasets already held by the company and supported by historical well data, including Hemi Springs State-1.

88 Energy said acquiring the Schrader Bluff dataset marked the start of a new phase of organic opportunity generation, and would be followed by the planned purchase of the Kad River 3D survey, due for release in March, which covers the Kad River East leases secured in the 2025 North Slope bid round.

The company noted it had leveraged Alaska's Tax Credit Seismic 3D programme, which allows access to historic seismic data at a fraction of original acquisition costs, accelerating the timeframe from acreage acquisition to prospect maturation.

It confirmed that updated internal prospective resource estimates for South Prudhoe were expected to be released in the first quarter of 2026, following detailed interpretation of the Schrader Bluff data alongside other licensed seismic datasets.

At 1300 GMT, shares in 88 Energy were down 1.48% at 1p.

Reporting by Josh White for Sharecast.com.