RE: Good news?8 Nov 2018 09:36
Simply extraordinary for a company of our size - not surprisingly this opportunity does require money. (88e website)
88 Energy Limited☰
OperationsProject Icewine, AlaskaOperator on majority of ~475,000 contiguous acres onshore Alaska in prolific oil-rich province with multiple objectives;~ 301,000 acres net to 88 Energy;63.4% Working Interest, 10 year leasehold, 16.5% royalty and strategically located in the heart of the play and close to infrastructure;Unconventional primary objective in shale complex that sourced the 13 BN barrel Prudhoe Bay Oil Field – opportunity identified by first mover in the Eagle Ford;Shallow secondary conventional objective is the hottest play on the North Slope with 88 Energy acreage offset by multiple recent discoveries;Excellent fiscal terms with cash rebates on historical exploration expenditure.Yukon Gold, AlaskaRecent award of 14,194 acres (100% 88 Energy);Contains historic oil discovery, located nearby to recently commissioned infrastructure;Low cost, opportunistic acquisition;3D seismic acquired 2018: internal assessment underway;Western Blocks, Alaska88 Energy earning 36% by paying 40% of costs for a commitment well on a 400MMbbl prospect;Near term drilling 1Q2019, 88E acting as Drilling Manager;Adjacent to recent Nanushuk Play discovery, Horseshoe#1 and #1A;