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.
Project Icewine Overview