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If Burgundy get their IPO over the line in September, could they end up being the jv partner for Augusta?

I can see Burgundy in say 2 years time outright buying 88e, or at least their Alaskan assets.

Best wishes everyone.

It is why jv critical

Have enough money go next 12 months plus money from Burgundy

Cut CAPEX with good Namibian deal also

JV with any of the following and off we go

Hilcorp Energy Company

ConocoPhillips

Santos Limited related North Slope ecosystem participants

Private US shale/North Slope-backed operators

Best wishes everyone

Totally agree MP

IF they get the JV over the line, there will be an enormous rerate. If Augusta flows which we all hope for , I still believe this could 10 bag plus from here easily

Indeed looking further ahead, so maybe 2028 or 2029 they may well be bought out completely,

for their Alaskan assets and have a new company purely for Namibia also could be huge

Best wishes everyone.

Https://uk.finance.yahoo.com/news/alaskas-oil-revival-sparks-a-new-energy-rush-into-the-arctic-141500713.html

Radika

Hopefully this will be the time when those underwater can minimum break even

Best wishes

Another excellent RNS.

Get the jv over the line on favourable terms, and off to the races.

If Augusta drill is a success (incidentally, this is the first time in 10 years I genuinely believe it will be) those buying at these levels I genuinely believe will 20 plus bag from here.

Best wishes everyone

It's all about the jv. 88e need to get over past history and get jv sorted to prove to potential investors they have changed. Once this has been confirmed, investors will come flocking. They will never have a better opportunity than right now with assets and oil prices.

Best wishes everyone.

This is amazing news. Multi stacked plays wigh huge increases upgraded numbers, and what os important infrastructure lead which is huge.

Hopefully a bloody good jv forthcoming, but we are coming from a position of strength

This company had a MCAP of several hundred million on hype. Now building substance over hype. This could go well in excess of 20pps in next 12 months

Best wishes everyone.

This is good news and appear confident. Be interesting what we do with our 20,% or whether there will be a separate listing for Naminia?

Best wishes everyone.

I am hoping we are nearing the end of the placing drag, and can push onto 2pps and beyond in short time.

ASX was over average trading as we we yesterday so fingers crossed

Brst wishes everyone.

Hi Brombard

You are right about free hit.

I see this as positive. It brings much more certainty around 88E’s Namibia exposure and removes a significant future funding burden while retaining the 20% interest.

The key point is 88E still has obligations tied to its 20% working interest under the JOA if it elects to participate , but what has been removed are the staged farm in commitments that would have required major additional spend to move toward 75%, so not exactly a “free hit”, but definitely a far more capital efficient structure with much lower balance-sheet risk.

Again, we are in a better position than I can ever remember. I pray to God Augusta strikes oil as this will easily ten bag plus.

Best wishes

This is a fantastic outcome. I do think PEL93 could be huge so to have a non committed free hit at it is amazing

Huge savings, with potential to buy in further if drilling succeeds.

The company definitely has a different feel about it. Substance over hype.

Might hit the Cavendush target next year

Good luck everyone.

Excellent news this morning all round

It's the first time that this company could be built up on substance rather than hype.

Genuinely exciting times ahead

Best wishes everyone

Https://thewest.com.au/business/bulls-n-bears/88-energy-reset-barrels-alaska-engine-room-towards-test-phase-c-22219613

Hi Paulo123

You’re conflating two different assets. Franklin Bluffs-1H tests Phoenix (Brookian) does not validate Augusta/South Prudhoe, which targets Ivishak & Kuparuk reservoirs already proven by nearby production and offset wells. Augusta’s value case isn’t dependent on Phoenix flow results.

Also, not thinking this was a good amendment misses the point. 88E kept the US$29M carry intact, added security over assets + a 25% option, and avoided funding it themselves. That’s not desperation that’s risk managed leverage.

The real swing factor isn’t geology, it’s Burgundy’s IPO. If it lands, Phoenix gets drilled on someone else’s money. If not, it delays , but 88E hasn’t diluted to find out.

Phoenix is upside optionality.

Augusta is the near-term value driver.

Different plays, different timelines, different risk profiles.

Best wishes everyone, and hopefully farmout partner announcement soon.

I think most people expected and accepted a delay 88e have made this a good defensive play by getting extra money, giving Burgundy ultimatums etc...whilst it waiting to hopefully beapproved in a few months time by the SEC

The priority is Augusta and farmout news.

Best wishes everyones

Nice catch, and very positive article. Surrounded by majors. Could one of them be our farmout partner?

Best wishes everyone.

Agree.

Very good survey

Recon had a good day also. Up over 10% with above average trading. End of Q3 key for them (and in part us for PEL93)

Best wishes everyone.

Https://www.monitorexploration.com/monitor-confirms-drillable-prospect-at-lead-9-following-integrated-geophysical-interpretation/

Extremely encoursaging to say the least

88 Energy (88E) – Expected 2026 News & Events Timeline

Here is the most up-to-date, consolidated 2026 timeline based on the Q1 2026 Quarterly Activities Report (16 April 2026), the Oil & Gas Virtual Investor Conference presentation (16 April 2026), and all prior disclosures. All dates are indicative/targeted and subject to change, as stated in the company’s cautionary language.

Q2 2026 (April – June)

May 2026 → Additional Brookian resource estimate for South Prudhoe South-East Hub (new detail from presentation).

Q2 2026 → Rig contract expected for Augusta-1.

Q2 2026 → Final well location selection for Augusta-1 (mid-2026 target).

Ongoing → Farm-out process for South Prudhoe / Augusta-1 (multiple parties already in data room; 4–5 weeks in as of mid-April).

Q3 2026 (July – September)

Mid-year / Q3 2026 → Targeted farm-out close for Augusta-1 (highest-priority catalyst; multiple parties conducting due diligence).

H2 2026 (starts July) → Franklin Bluffs-1H spud window opens for Project Phoenix (fully carried by Burgundy; production test results expected 2027).

Q4 2026 (October – December)

End-2026 (H2) → Maiden Prospective Resource estimate for Kad River East (following full interpretation of newly secured Kad River 3D seismic).

Ongoing → Namibia PEL 93: Operator (Monitor) completes gravity survey data interpretation and finalises drilling targets for potential 2027/2028 well.

Ongoing → Burgundy funding / US IPO update expected (company said “in the next few weeks” from mid-April; no slippage to Phoenix timeline confirmed).

Early 2027 (for context – first major drilling catalyst)

Q1 2027 → Augusta-1 exploration well spud (64 MMbbl 2U gross target; Ivishak + Kuparuk stacked reservoirs; three locations permitted).

I dare say there will be more news in between

Best wishes everyone.