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88 Energy Ltd

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Market:
AIM
Market Cap:
£62.03 m
Price
0.90 GBX
Change
3.17%
52 weeks high
1.45
52 weeks low
0.63

The company’s goal is to build a successful exploration and production company that delivers material benefits to its shareholders and contributes to the development of the regions in which it works.

It aims to achieve this by targeting overlooked or emerging play types where its small team of experts can move quickly to capitalise on opportunities prior to larger industry players moving in.

The opportunities the company seeks are based on robust technical evaluation together with informed socio-political decisions and cultural sensitivity in business relationships.

Operations
Project Icewine, Alaska

• Operator on majority of ~528,000 contiguous acres onshore Alaska in prolific oil-rich province with multiple objectives;
• ~ 349,000 acres net to 88 Energy;
• 66% Working Interest, 10 year leasehold, 16.5% royalty and strategically located in the heart of the play and close to infrastructure;
• Unconventional objective in shale complex that sourced the 13 BN barrel Prudhoe Bay Oil Field – opportunity identified by first mover in the Eagle Ford;
• Conventional objective is the hottest play on the North Slope with 88 Energy acreage offset by multiple recent discoveries;
• Excellent fiscal terms with cash rebates on historical exploration expenditure.

Yukon Gold, Alaska
• Recent award of 14,194 acres (100% 88 Energy);
• Contains historic oil discovery, located nearby to recently commissioned infrastructure;
• Low cost, opportunistic acquisition;
• 3D seismic acquired 2018: internal assessment underway;
 

Western Blocks, Alaska
• 88 Energy earning 36% by paying 40% of costs for a commitment well on a 400MMbbl prospect;
• Near term drilling 1Q2019, 88E acting as Drilling Manager;
• Adjacent to recent Nanushuk Play discovery, Horseshoe#1 and #1A;

Investor Presentation
Project Icewine Latest Presentation

Mr Michael Evans
Non-Executive Chairman

Mr Michael Evans (Non-Executive Chairman, appointed 9 April 2014). Mr Evans, a Chartered Accountant based in Perth, has extensive executive and board level experience with publicly listed companies in the natural resources sector spanning 30 years.

Mr David Wall
Managing Director

As a leading oil and gas equity analyst for six and a half years, Mr Wall brings extensive experience with junior oil and gas exploration companies. His skillset spans asset evaluation across many fiscal regimes / play types as well as corporate advisory / M&A and equity capital markets, having led >$400m in capital raisings.

Dr Stephen Staley
Non-Executive Director

Dr Stephen Staley ( Non-Executive Director, appointed 9 April 2014). Dr Staley has 34 years’ of management and technical experience in the European, African and Asian oil, gas and power sectors, including with Conoco and BP.

Level 2, 5 Ord Street
West Perth WA 6005
AUSTRALIA

Tel: +61 (0)8 9485 0990
Fax: +61 (0)8 9321 8990

 

Postal Address

PO Box 1674
West Perth WA 6872
AUSTRALIA

For further information please click here 

Australian Broker
Hartleys Ltd
Level 6
144 St Georges Tce
Perth WA 6000
AUSTRALIA


Share Registry
Computershare Investor Services Pty Ltd
Level 11
172 St Georges Terrace
Perth WA 6000
AUSTRALIA


Auditors
BDO International Ltd
38 Station St
Subiaco WA 6008
AUSTRALIA


Bankers
Westpac Banking Corporation
Level 6
109 St Georges Terrace
Perth WA 6000

AUSTRALIA
Company Secretary
Ms Sarah Smith


Registered Office and Principal Place of Business
Level 2
5 Ord Street
West Perth WA 6005
AUSTRALIA
Telephone: +61 (8) 9485 0990
Facsimile: +61 (8) 9321 8990
United Kingdom
________________________________________
Nominated Adviser
Cenkos Securities Plc
6.7.8 Tokenhouse Yard
London EC2R 7AS
UNITED KINGDOM

Share Registry
Computershare Investor Services plc
The Pavilions
Bridgwater Road
Bristol BS13 8AE
UNITED KINGDOM

UK Broker
Cenkos Securities Plc
6.7.8 Tokenhouse Yard
London EC2R 7AS
UNITED KINGDOM