88 Energy Ltd (AIM:88E, ASX:88E, OTCQB:EEENF, FRA:POQ) has been flagged by Cavendish as sitting on a roughly 500mmboe opportunity at its South Prudhoe acreage on Alaska’s North Slope, after the broker highlighted new estimates that confirm significant potential across multiple prospects and reservoir intervals.
Cavendish’s note leans heavily on location and analogues: South Prudhoe lies immediately south of the Prudhoe Bay and Kuparuk fields, and the broker argues the combination of deep conventional reservoirs and shallower plays creates a stacked-pay set-up with tie-back potential to existing infrastructure.
The broker puts the spotlight on the Augusta prospect as the next key catalyst, with 88 Energy targeting a 1Q27 spud for Augusta-1. Cavendish said success there, alongside the existing Hemi Springs-1 discovery, could unlock a “North-West hub” and follow-on opportunities close to infrastructure.
Beyond the near-term Ivishak and Kuparuk focus, Cavendish also points to Brookian upside and said remaining prospectivity and resource estimation work is expected to be prioritised in 2Q26.