88 Energy Ltd (AIM:88E, ASX:88E, OTCQB:EEENF) has expanded its footprint in Alaska, securing 14 new oil and gas leases totalling about 34,560 acres on the North Slope.
The acreage, awarded in the state's 2025W lease sale, expands the company’s operated acreage east and west of its Project Leonis area.
And, the new South Prudhoe leases target Ivishak Formation prospects located just south of the Prudhoe Bay Unit.
"Securing these strategically located North Slope leases is a clear demonstration of our data-driven, infrastructure-focused strategy in action," said managing director Ashley Gilbert
"The new South Prudhoe acreage expands our footprint across proven fairways, positions us beside existing pipelines and facilities and introduces a suite of low-risk Ivishak prospects supported by modern 3D and strong well control."
Further leases at Kad River East introduce longer-term upside in an under-explored region east of the Trans Alaska Pipeline System, where historical wells and upcoming 3D seismic work are expected to define multi-reservoir potential.
The company noted it is also advancing plans for a multi-zone exploration well, supported by mapped Ivishak, Kuparuk and Schrader Bluff targets.
"With 3D seismic licensing planned for early 2026, there is a clear pathway to near-term value catalysts," Gilbert added.
Our near-term priority is to convert these high-quality subsurface opportunities into commercial outcomes, while maintaining capital discipline and a sharp eye on monetisation routes via tie-backs to TAPS."