88 Energy Ltd (AIM:88E, ASX:88E, OTC: EEENF) said it now has two independent resource estimates for Project Icewine, one for the East site and one for the West.
Project Icewine is the company's oil exploration asset in Alaska, with the two estimates covering separate and independently mapped resources.
ERCE Equipose, an oil and gas reservoir evaluation firm, estimated 1.1bn barrels of oil at the west project in November 2020.
And on 10 August, Lee Keeling & Associates, an independent petroleum and engineering firm, reported an estimate of 1.03bn barrels of oil at Project Icewine East.
The data includes “reprocessed 2D seismic data, basin modelling, petrophysical analysis of publicly available wells and historical geological record.”
Lee Keeling and Associates reviewed, validated and in some cases modified the data compiled by 88 Energy.