High Potential under-explored acreage
Operator | 100% WI ~18k acres (7 leases)
- Cautionary Statement: The estimated quantities of petroleum that may be potentially recovered by the application of a future development project relate to undiscovered accumulations. These estimates have both an associated risk of discovery and a risk of development. Further exploration, appraisal and evaluation are required to determine the existence of a significant quantity of potentially recoverable hydrocarbons.
- Net Unrisked Prospective Oil Resources (MMbbls). Refer to ASX announcement dated 30 January 2025 for further details.
- 88 Energy net resources have been calculated using a 100% working interest and a 16.6667% royalty.
- COS represents the geological chance of success as assessed by 88 Energy, taking into account and risking of such factors as source, timing/migration, estimated reservoir and quality, mapped closures and seal effectiveness.
- Prospects are subject to phase risk (oil vs gas). Chance of oil has been assessed as 100%. Phase risk has not been applied to the unrisked numbers.
- The Prospective Resources have not been adjusted for the chance of development. Quantifying the chance of development (COD) requires consideration of both economic and other contingencies, such as legal, regulatory, market access, political, social license, internal and external approvals and commitment to project finance and development timing. As many of these factors are not yet known, 88 Energy has qualitatively assessed the chance of development as “probable” upon geological success given the strategic location of the acreage position adjacent to TAPS and key infrastructure.
"The seven new leases east of TAPS provide a new entry into an exploration frontier area where historical wells and modern seismic data indicate a multi-reservoir petroleum system".
Ashley Gilbert, Managing Director
