News Articles

Bulls N' Bears 13 Mar 2023

88 Energy to target 647m barrels of Alaskan oil with new well spud

88 Energy has spudded its Hickory-1 well at the company's Phoenix project in Alaska, testing a sweet spot of seismic anomalies in a region that has enjoyed recent drilling success. The Hickory-1 well is permitted to a total depth 3.81 km and designed to appraise up to six conventional oil reservoir targets with a net entitlement prospective resource of 647 mean million barrels of oil.

Bulls N' Bears 28 Feb 2023

88 Energy nearology punt pays off

ASX-listed explorer 88 Energy has reached another milestone in a major Alaskan oil basin. The company has received formal approval over the formation of its Toolik River Unit which comprises leases within the western and central area of Project Phoenix. Grouping the leases together allows 88 Energy to push ahead with further exploration in the Alaska North Slope oil field and investigate pathways to development.

Bulls N' Bears 27 Feb 2023

88 Energy set to drill into giant Alaskan oil field

ASX-listed Alaskan oil explorer 88 Energy is one step closer to tapping into the massive Alaska North Slope oil basin. As ice pad construction nears completion, the company remains on track for the Hickory-1 well to spud in early March, testing over the next month its six targets in the company's Phoenix acreage that is estimated to hold 647 million barrels of oil.

Bulls N' Bears 06 Feb 2023

88 Energy gets greenlight for Alaskan oil probe

Oil explorer 88 Energy is set to get the drill bit spinning at its Hickory-1 well target on Alaska's North Slope after the state's Oil and Gas Conservation Commission handed the company an all-important Permit to Drill. The bore is now on track to be spudded early next month and is tipped by the enterprise to hold 647 million barrels of oil within six key reservoir targets.

Deals 06 Feb 2023

88 Energy to raise $17.5m

Perth-based 88 Energy is set to raise $17.5 million to fund several of its oil exploration projects in Alaska.

Bulls N' Bears 07 Dec 2022

88 Energy secures rig for Alaskan oil probe

ASX-listed 88 Energy has sealed a rig contract agreement with Nordic-Calista to use one of the company's rigs to launch drilling operations at its Hickory-1 oil exploration well on Alaska's North Slope next year. The well is on course to be spudded by March and has been devised to test half a dozen key reservoir targets which could yield 647 million barrels of oil.

Bulls N' Bears 11 Nov 2022

88 Energy subsidiary secures Alaskan ground

Captivate Energy Alaska, a wholly owned subsidiary of ASX-listed oil and gas explorer 88 Energy could soon pick up ten leases spanning over 25,000 acres in Alaska's North Slope. The acquisition follows a formal bidding process in that saw the company win the rights to acquire the tenure that boasts historical hydrocarbon shows and an existing 3D dataset which could expedite future work.

Bulls N' Bears 05 Sep 2022

88 Energy lines up Alaskan oil target after data review

ASX-listed 88 Energy is locking onto a new exploitation target at its Icewine East oil project on Alaska's North Slope after examining a batch of newly acquired seismic data. The company is now gearing up to drill test the “Hickory-1” well next year with planning and permission work underway.

Bulls N' Bears 10 Aug 2022

88 Energy reveals billion-barrel resource in Alaska

ASX-listed explorer 88 Energy has announced a maiden resource estimate of 1.03 billion barrels located on the central North Slope of Alaska. The Icewine East project is spread over an area of 185,320 net acres. The maiden resource estimate is based on well logs from the previously drilled exploration well Icewine 1, seismic data, data from other wells in the region, recent petrophysical analysis and geophysical mapping. 88 Energy holds a 75 per cent working interest in the project.

Bulls N' Bears 27 Jun 2022

New survey data boosts 88 Energy oil play

88 Energy has inked a licensing agreement with SAExploration that will see the explorer pick up a raft of 3D seismic data from a significant parcel of land at its Icewine East oil project on Alaska's North Slope. The company says newly acquired surveys stretch from Pantheon Resources' nearby acreage onto Icewine and covers a number of reservoir units that could host hydrocarbons.

Bulls N' Bears 10 May 2022

Nearology report enhances Alaskan acreage for 88 Energy

88 Energy's hunch reservoirs charging an adjacent oil discovery might continue into its Icewine project acreage on the Alaskan North Slope looks to have paid off with third-party mapping interpreting three target reservoir units extending into the company's permit areas. An in-depth petrophysical re-evaluation of Icewine-1 and the broader area has been carried out by independent petrophysical consultants.

Bulls N' Bears 12 Apr 2022

88 Energy banks first Texan oil and gas cash

88 Energy's move to Texas is putting some colour into the ASX-listed company's bank account after it banked the first A$600,000 cheque in March from its Project Longhorn. The company has lifted production from the Permian Basin project by over 30 per cent to more than 400 barrels of oil equivalent per day after the first of its planned capital-efficient workovers.

Bulls N' Bears 08 Apr 2022

Pantheon well tests auger well for 88 Energy

88 Energy says third party mapping of the area around AIM listed Pantheon Resources discovery of light sweet crude oil in Alaska shows the geological fairways likely extend to its Project Icewine ground on Alaska's famed North Slope. The company says it is planning for a resource upgrade at Icewine within months and that talks with potential farm-in partners are in play.

Bulls N' Bears 23 Mar 2022

88 Energy strikes oil at depth ahead of logging

88 Energy has struck oil after successfully reaching total depth in the Merlin-2 appraisal well in Alaska and is now waiting on wireline logging results to confirm whether oil will actually flow to surface from the target Nanushuk Formations. The company said it would take between seven and ten days to complete logging the 100 per cent owned well.

Bulls N' Bears 17 Mar 2022

88 Energy set to intersect reservoir targets at Merlin-2

Oil explorer 88 Energy is making progress as it drills towards the 8000-foot reservoir targets at its potentially company making Merlin-2 well in Alaska. The company is chasing a possible 652 million barrel of oil resource as the it follows up on its 2021 Merlin-1 discovery. Merlin-2 spudded on the 7th of March and has been drilled to 2,005 feet. The surface casing has been installed and cemented in addition to the blow out preventer being tested.

Bulls N' Bears 09 Mar 2022

88 Energy spuds potential company maker in Alaska

North American-focused oil producer 88 Energy has spudded its Merlin 2 well in Alaska, chasing what could be a potential company-making 652 million barrels of oil prospect following up last year's Merlin 1 discovery. Merlin 1 didn't flow oil to surface, however post-well analysis successfully demonstrated the presence of light oil with 41 feet of net payzone across three reservoir targets.

Bulls N' Bears 04 Mar 2022

88 Energy gains confidence from success of neighbours

Alaska-focused oil explorer 88 Energy's Project Icewine has received a boost after light oil was recovered across a brace of separate production tests at Pantheon Resources' Talitha-A well, about 4.5 kilometres from the Icewine acreage. According to the company, the results at the well are highly encouraging given first pass mapping suggests parallel reservoir sequences sit between the zones.

Bulls N' Bears 01 Mar 2022

88 Energy targets massive oil reservoir in Alaska

Alaska-focused oil explorer 88 Energy Limited is poised to spud the Merlin-2 well at its wholly owned Peregrine oil project in Alaska with mobilisation of the drilling rig to site complete. Merlin-2 is targeting a prospective resource of 652 million barrels of oil. Managing Director and CEO, Ashley Gilbert said success at Merlin-2 has the clear potential to be “transformational.”

Bulls N' Bears 21 Feb 2022

88 Energy increases US footprint with Texas deal

Alaskan explorer 88 Energy has increased its American presence with the purchase of a 75 per cent stake of Texas oil player Big Horn Energy who is currently producing around 300 barrels of Permian Basin oil per day. The company will spend US$9.7 million to take a majority share of Bighorn Energy's 32 wells across nine leasehold areas and is targeting a doubling of production by year's end.

Oil & Gas 14 Feb 2022

88E raises $32m for Alaskan oil

Shares in Subiaco oil play 88 Energy were down 14 per cent on the back of announcing a completed $32 million capital raising offered to institutional and sophisticated investors.

Bulls N' Bears 10 Feb 2022

88 Energy locks in March date for Alaskan well

Alaska-focused oil explorer 88 Energy will drill the highly anticipated Merlin 2 well in March following the completion of the access road to site and the commissioning of the contracted drilling rig. The well is the follow up to the 2021 Merlin 1 discovery that encountered multiple oil shows in the Brookian Nanushuk Formation – a significant production horizon in the North Slope area of Alaska.

Bulls N' Bears 18 Jan 2022

88 Energy sets February date for Merlin-2 well

Alaska-focused oil explorer 88 Energy has tipped a February spud date for its Merlin-2 well in the American state of Alaska, after announcing it has commissioned a rig, is building a snow road and is close to regulatory approval for the 8000-foot follow-up to 2021's Merlin-1 oil discovery.

Bulls N' Bears 24 Nov 2021

88 Energy pinpoints next Alaskan oil target

88 Energy is gearing up to tap its Merlin-2 well at Project Peregrine in Alaska's North Slope after pinpointing a spot from a trio of initially permitted locations. The Merlin-2 appraisal well is targeting 652 million barrels of oil with an independent geological evaluation giving it a better-than-even chance of success. The project stretches across almost 200,000 acres of land and is proximal to some bumper historic oil finds.

Bulls N' Bears 26 Oct 2021

88 Energy to drill 652m barrel oil target in Alaska

88 Energy looks set to tap its Merlin-2 well that it says is prospective for some 652 million barrels of oil, after inking a deal with Doyon Drilling to use the company's Arctic Fox rig to test the well at its Project Peregrine in the North Slope of Alaska. The company says the appraisal well has been independently assessed to have a geological success rate of 56 per cent.

Mining 02 Sep 2021

88 Energy raises $24m

Subiaco-based 88 Energy is seeking $24 million to progress drilling at a major project in Alaska.

Bulls N' Bears 16 Aug 2021

88 Energy uncovers oil in three Alaskan reservoirs

Things just got interesting in 88 Energy's oil hunt at its Project Peregrine in the revered North Slope of Alaska with post-well evaluation of the Merlin-1 well demonstrating the presence of oil in three reservoirs. Results from the well have led to a targeted mean total prospective resource at the project of a whopping 1.6 billion barrels of oil. An appraisal well is now on the cards.

Bulls N' Bears 04 Aug 2021

88 Energy reveals potential for Alaskan oil reservoir sands

ASX-listed 88 Energy appears to have detected additional upside at its Umiat oil field on the North Slope of Alaska, immediately south of its Project Peregrine where it recently spudded the Merlin-1 well. The company says that analysis of Umiat 3D seismic data, together with post-well testing of Merlin-1, has revealed potential for additional reservoir sands at Umiat.

Bulls N' Bears 14 Jul 2021

Test results build case for 88 Energy Alaska oil target

ASX-listed Alaska oil and gas explorer 88 Energy says it is on track to present the market with a full appraisal of results from Merlin-1 well testing at its Peregrine project early next month after being “highly encouraged” by latest preliminary hydrocarbon indications. The company is targeting more than one billion barrels of oil resources in the Peregrine field.

Bulls N' Bears 01 Jul 2021

88 Energy in fine fiscal fettle after Alaskan tax credits windfall

Alaskan oil and gas explorer/developer 88 Energy now has a full treasury and no debt after closing the recently flagged early sale of state oil and gas tax credits worth US$18.7 million to a US company. 88 Energy now has about A$15m in the tin to accelerate exploration in Alaska where it is targeting more than one billion barrels of gross mean prospective oil resources.

Bulls N' Bears 24 Jun 2021

88 Energy delivers more Alaskan oil sniffs

88 Energy has confirmed the presence of hydrocarbons in core samples at depths that showed good oil flows during drilling of the Merlin-1 well at its Peregrine project in Alaska. The company is targeting a gross mean prospective resource of 645 million barrels of oil from the well. Geochemical analysis to better understand the quality of oil and its migration pathways continues.

Bulls N' Bears 21 Jun 2021

88 Energy rights balance sheet with Alaska tax credit sale

ASX-listed 88 Energy is cutting more than US$1 million of annual finance costs and adding US$2.6 million to its treasury with the US$18.7 million sale of oil and gas tax credits in Alaska. The balance-sheet reset strengthens the company's position as it strives to expand oil and gas resources at its 100 per cent-owned Peregrine project in the US state.

Bulls N' Bears 08 Jun 2021

88 Energy takes full ownership of key Alaska oil project

88 Energy has moved to 100 per cent ownership of the Peregrine oil project in Alaska, USA, by acquiring the half share of its partner, Alaska Peregrine Development Company. 88 Energy now has a clear run to continue exploration in the oil rich Nanushuk formation where it is targeting more than one billion barrels of oil in gross mean prospective resources.

Bulls N' Bears 25 May 2021

Alaska oil sniffs up the ante for 88 Energy

ASX-listed 88 Energy has returned evidence of oil from down hole sampling of the recently drilled Merlin-1 well at its Peregrine project in Alaska. Observations of fluorescence on side-wall cores under UV light have also identified multiple horizons showing the presence of oil. Peregrine lies along trend to recent nearby discoveries in the Nanushuk formation.

Appointments 04 May 2021

Board Moves May 4, 2021

Our board moves wrap includes Ashley Gilbert, Sarah Smith, Matthew Latimore, Hugh Callaghan, Andrew Haythorpe, Christiaan Jordaan, Ian Daymond, and Bryn Jones.

Bulls N' Bears 12 Apr 2021

88 Energy spots oil in rock samples at Peregrine

ASX-listed 88 Energy has spied evidence of oil in multiple reservoir sandstone samples recovered downhole after logging multiple potential pay zones from its Merlin-1 test well drilled on Alaska's oil-rich Arctic North Slope. The downhole samples recovered from Merlin-1 show strong evidence of being saturated with oil as the crude oil in the sandstone exhibits fluorescence under ultraviolet light.

Bulls N' Bears 30 Mar 2021

88 Energy jumps again as market absorbs Alaskan oil shows

ASX-listed 88 Energy, is staring down the barrel of a potential oil discovery at its 600-million-barrel prospective oil target being drill tested in the frozen arctic ground of Alaska's oil-rich North Slope. The company said its Merlin-1 drill hole has intersected multiple reservoir sandstone layers, within the target Nanushuk formation, with many exhibiting indications of the presence of oil, collectively referred to as “oil shows”.

Bulls N' Bears 22 Mar 2021

88 Energy jumps as market anticipates Alaskan oil target

88 Energy has cracked 1,512 feet, or 460 metres, as it drills its way towards its highly anticipated 600-million-barrel prospective oil target at an interpreted depth of 6,000 feet, or 1,829 metres, below the frozen arctic ground in Alaska. Its moment of truth will arrive in just three to five days when it will get to test the reservoir sands of the oil-rich Nanushuk formation target.

Bulls N' Bears 11 Mar 2021

Rods are turning for 88 Energy in Alaskan oil hunt

ASX-listed 88 Energy has the drill bit spinning at its Merlin-1 exploration test site as the Alaskan oil hopeful looks to cash in on recent spectacular success by other oil explorers in the neighbourhood around its ground. 88 Energy spudded the Merlin-1 test well yesterday with 14 days of drilling now needed to reach the target reservoir in the oil-rich Nanushuk formation.

Bulls N' Bears 19 Feb 2021

88 Energy poised to spud Alaskan oil well

ASX-listed oil and gas explorer, 88 Energy is set to spud the Merlin-1 oil well at its Project Peregrine on the North Slope of Alaska early next month. The Perth-based company, who successfully rattled the tin recently for $12 million in a heavily oversubscribed capital raise, says mobilisation of the drilling rig to the Merlin-1 well location has commenced.

Oil & Gas 12 Feb 2021

88 Energy raises $12m, MD resigns

Perth-based 88 Energy has announced the resignation of its managing director while completing an oversubscribed share placement of $12 million.

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