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88 Energy Limited (88E)
is a publicly listed company on the Australian Securities Exchange (ASX).


{{businessSummary}}

General Overview

About 88 Energy Limited

88 Energy Limited is an ASX and AIM listed exploration company that is Operator over ~272,000 gross acres with a 77.5% working interest (174,000 acres subject to formal award in mid 2016), onshore Alaska, in a world class exploration asset targeting liquids rich conventional and unconventional plays. The primary unconventional play, the HRZ interval, was recently evaluated successfully post the drilling of the maiden well at the project in late 2015, Icewine#1. Phase II is now underway, with appraisal drilling planned via the Icewine#2H well, which will be a horizontal well with a multi stage fracture stimulation and production test.


Strategy

The company’s goal is to build a successful exploration and production company that delivers material benefits to its shareholders and contributes to the development of the regions in which it works.

It aims to achieve this by targeting overlooked or emerging play types where its small team of experts can move quickly to capitalise on opportunities prior to larger industry players moving in.

The opportunities the company will seek will be based on robust technical evaluation together with informed socio-political decisions and cultural sensitivity in business relationships.


Projects

Alaska- Project Icewine

In November 2014, 88 Energy entered into a binding agreement with Burgundy Xploration (BEX) to acquire a significant working interest in a large acreage position on a multiple objective, liquids rich exploration opportunity onshore Alaska, North America – Project Icewine.

In November 2015, the gross acreage position was expanded by 172,937 acres to 271,119 contiguous acres (210,250 acres net to the Company).

The Project is located on an all year operational access road with both conventional and unconventional oil potential. The primary term for the State leases is 10 years with no mandatory relinquishment and a low 16.5% royalty.

    • Operator on ~271,000 contiguous acres onshore Alaska in prolific oil-rich province with multiple objectives, with an additional 420,000 acres subject to award;
    • 400,000 acres net to 88 Energy assuming all rights taken up;
    • 77.5% 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 two discoveries;
    • Excellent fiscal terms with cash rebates for exploration expenditure.



    Contact Info

    88 Energy Limited

    Level 2
    5 Ord Street
    West Perth, WA
    AU Australia, 6005

    Phone: +61 8 9485 0990
    Fax: +61 8 9321 8990
    Website: http://88energy.com/

    Click here to view the interactive map
    88 Energy Limited Google Map
    88 Energy Limited Google Map

    Share Registry

    Computershare Investor Services Pty Limited - Click here to view share registry profile

    Phone: +61 3 9415 5000
    Fax: +61 3 9473 2500
    Email: investor.relations@computershare.com.au
    Website: http://www.computershare.com/

    452 Johnston Street
    Abbotsford, VIC
    AU Australia, 3067


    Important Information

    The General Overview, Services, Products and Projects information for this profile was last edited on 24 Oct 2017.

    All Financial Data is provided "as is" for informational purposes only, not intended for trading purposes or advice. Neither Share Prices nor any independent data provider is liable for any informational errors, omissions or other defects, incompleteness, or delays, or for any actions taken in reliance on Financial Data.

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