88 Energy Limited

88 Energy Limited is an oil and gas exploration and production company aiming at oil on the globally recognised North Slope of Alaska through its operations across Project Peregrine and Project Icewine.

88E wholly owns the Project Peregrine, where the prospective areas like Merlin-1 well and Harrier-1 well indicate a substantial opportunity for the Company. For 88E, Harrier and Merlin prospects in Nanushuk Formation indicate relatively high chances of success.

In addition to this, 88E has a majority interest in Project Icewine, which is located in the prolific oil-rich province with multiple objectives. 88E inked an agreement with Burgundy Xploration in 2014 to obtain a substantial working interest in a large acreage position in the Project Icewine.

88E was granted the lease sale on Lease AA095899 in the new Coastal Plain, commencing from 1 January 2021, through its wholly-owned subsidiary Regenerate Alaska Inc. The area is believed to be highly prospective for oil and gas.

This acquisition indicates a major step towards 88E’s aggregation strategy for oil resources in the North Slope of Alaska, where the present infrastructure offers a possible pathway to commercialisation.

88E also anticipates obtaining support in furthering discussions with neighbouring resource owners to optimise the monetisation strategy of the acreage.

The Company envisions establishing a successful exploration and production business that generates substantial value for its shareholders while providing towards the development of the regions of operations.

88E plans to achieve this by targeting unnoticed or developing areas where its team of experts can mobilise rapidly to capitalise on prospects prior to the movement of bigger players in the industry.

Interestingly, vigorous technical assessment along with informed socio-political decisions and cultural sensitivity in commercialisation affairs form the basis for 88E’s pursuit of opportunities.