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Would you like to know more about 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.
Subsequently, the gross acreage position has expanded to ~480,000 contiguous acres (~310,000 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.