88 Energy Ltd
88 Energy Limited is an Australia-based oil and gas exploration company with a North American focus.
The business
88 Energy Limited is an Australia-based oil and gas exploration company with a North American focus. The Company's projects include South Prudhoe, Kad River East, Phoenix and Namibia. The South Prudhoe project’s lease position covers approximately 52,269 acres within one of the prolific hydrocarbon fairways on the North Slope, immediately south of the Prudhoe Bay Unit and Kuparuk River Unit. The South Prudhoe project offers multiple prospects within the conventional Ivishak reservoir. The Kad River East project comprises seven leases covering approximately 17,920 gross acres east of the Trans Alaska Pipeline System (TAPS). The Phoenix project is an advanced conventional project on the North Slope of Alaska. The Company has approximately 74.3% working interest in Phoenix project. The Company holds an approximately 20% non-operated interest in PEL 93 in the Owambo Basin, onshore Namibia, under a three-stage farm in arrangement to earn up to a total of 45% working interest.
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Latest news
88 Energy Upgrades South Prudhoe Resources by 35%, Secures Key Drill Rig
88 Energy lifts South Prudhoe resources 35% to 768.9 MMbbls and secures Nordic-3 rig for Augusta-1 in 2027, signaling stronger Alaska North Slope upside.
88 Energy boosts resources by more than 50% at its Project Phoenix in Alaska
A new study has significantly increased the estimated contingent resources for 88 Energy’s (ASX: 88E) Project Phoenix in Alaska. In what is a potential game-changer for the project, the resource estimates for the SMD-B and SFS reservoirs have increased by more than 50%. Independently verified by auditor ERCE Australia, the reservoirs are now estimated to […]
88 Energy declares XCD takeover unconditional as it reaches 60% stake
88 Energy (ASX: 88E) is on track to create a more powerful Alaska oil and gas player as it declares its takeover offer for XCD Energy (ASX: XCD) unconditional. The company now holds 59.27% of XCD Energy’s shares and 28.53% of the listed options. The takeover offer is currently scheduled to close a week from […]
XCD directors recommend accepting 88 Energy takeover offer
The directors of Alaska-focused XCD Energy (ASX: XCD) have recommended shareholders accept the off-market takeover bid from fellow oil and gas player 88 Energy (ASX: 88E). 88 Energy has offered 2.4 new 88 Energy shares for every XCD share held and 0.7 new 88 Energy shares for every XCD listed option – a deal that […]
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