88E
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Company News
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 […]
Harpoon discovery lessens risks and royalties for XCD’s Alaska projects ahead of merger with 88 Energy
XCD Energy (ASX: XCD) has used a nearby discovery to its Alaskan projects to renegotiate a lower royalty payment to the original owners of its project ground as it awaits a merger with fellow Alaskan player 88 Energy (ASX: 88E). The company said the discovery by ConocoPhillips during the recent winter drilling season at the […]
88 Energy and XCD to merge and create larger North Slope Alaskan oil play
Following 88 Energy’s (ASX: 88E) unsolicited takeover bid a few weeks ago, XCD Energy (ASX: XCD) and 88 Energy revealed this morning they have agreed to a merger to create an Alaska focused oil company. Via an unanimously recommended off-market takeover offer, 88 Energy will issue 2.4 shares for every XCD share held, plus 0.7 […]
88 Energy makes off-market takeover lunge at fellow Alaska oil hunter XCD Energy
88 Energy (ASX: 88E) is making an unsolicited off-market, all paper takeover offer for XCD Energy (ASX: XCD) arguing it will make for a financially stronger Alaska explorer with greater exposure to global investors. Both companies have ground on the oil-rich North Slope of Alaska, which has already produced 16 billion barrels of oil and holds an expected […]
ConocoPhillips, Oil Search, 88 Energy and XCD Energy highly leveraged to winter exploration on Alaska’s North Slope
With the new year upon us, Alaska’s North Slope is a hub of activity with numerous explorers big and small alike gearing up for drilling programs with the hope of making another big oil discovery on the prolific North Slope. ConocoPhillips (NYSE: COP), alone, is pumping $6 billion into its North Slope assets in 2020, […]
88 Energy, Otto and Red Emperor Resources hit potential pay zones at Winx-1
Junior explorer 88 Energy (ASX: 88E) and its consortium partners Otto Energy (ASX: OEL) and Red Emperor Resources (ASX: RMP) will progress to wireline activities at the Winx-1 exploration well in Alaska after completing the first round of drilling. Providing an update to their respective shareholders on the Alaskan activities today, the trio announced it […]
Spud date at Winx-1 looms for 88 Energy and Alaskan partners following permit green light
Junior explorer 88 Energy (ASX: 88E) and its consortium partners Otto Energy (ASX: OEL) and Red Emperor Resources (ASX: RMP) are gearing up to spud the Winx-1 exploration well after receiving drilling approval from the Alaska Oil and Gas Conservation Commission. The news of the permit green light was announced by the trio in separate […]
88 Energy, Otto and Red Emperor line up Alaskan Western Blocks well spud for next month
Junior oil explorer 88 Energy (ASX: 88E) and its consortium partners Otto Energy (ASX: OEL) and Red Emperor Resources (ASX: RMP) are on track to drill a maiden well next month at their newly acquired Western Blocks acreage on Alaska’s North Slope. In separate announcements, the Australian trio today reported a drilling permit had been […]
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