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Operations

Project Icewine, Alaska

  • Operator on majority of ~480,000  contiguous acres (~300,000 net) onshore Alaska in prolific oil-rich province with multiple objectives;
  • Recent farm-out will see 88E free carried on drilling of 1.6 billion barrel target (480 MMBO net to 88E) in February 2020;
  • ~60% Working Interest, 7-10 year leasehold, 16.5% royalty and strategically located in the heart of the play and close to infrastructure;
  • Unconventional objective in shale complex that sourced the 13 BN barrel Prudhoe Bay Oil Field – opportunity identified by first mover in the Eagle Ford;
  • Conventional objective is the hottest play on the North Slope with 88 Energy acreage offset by multiple recent discoveries;
  • Excellent fiscal terms.

Yukon Gold, Alaska

  • Recent award of 15,312 acres (100% 88 Energy);
  • Contains historic oil discovery, located nearby to recently commissioned infrastructure;
  • Low cost, opportunistic acquisition;
  • 3D seismic acquired 2018: 90 million barrel resource identified;

Western Blocks, Alaska

  • Winx-1 well drilled in 2019 – low saturation oil discovery – not commercial;
  • Evaluation of remaining acreage underway.

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