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88 Energy Ltd (LON:88E)

88 Energy Ltd (LON:88E)


Share Price
0.98 p
Change
0 (0.00 %)
Market Cap
£54.63 m
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88 Energy Ltd

88 Energy Ltd is an Australia based company engaged in the energy sector. Its business is to explore and process crude oil and natural gas through its oil and gas assets located in the United States and Australia.

EPIC: 88E
Market: AIM:88E
ASX:88E
52-week High/Low: 3.23p / 0.89p
Sector: Energy
Market Cap: 54.63M
Website: 88energy.com

88 Energy Ltd

88energy.com

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Big picture - Why invest in 88 Energy Ltd


88 Energy Ltd Snapshot

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 ~475,000 contiguous acres onshore Alaska in prolific oil-rich province with multiple objectives;
  • ~ 301,000 acres net to 88 Energy;
  • 63.4% Working Interest, 10 year leasehold, 16.5% royalty and strategically located in the heart of the play and close to infrastructure;
  • Unconventional primary objective in shale complex that sourced the 13 BN barrel Prudhoe Bay Oil Field – opportunity identified by first mover in the Eagle Ford;
  • Shallow secondary 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

Directors & Management

Mr Michael Evans

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.

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Mr David Wall

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.

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Mr Brent Villemarette

Mr Brent Villemarette

Non-Executive Director

Mr Brent Villemarette is a petroleum engineer with more than 35 years experience in the oil and gas industry, both domestic and international.

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Dr Stephen Staley

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.

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Capital Structure

Top 20 Shareholders as at 31st Jul 2018

Rank Name Balance % of Total Units
1 HARGREAVES LANSDOWN (NOMINEES) LIMITED (15942) 597,106,629 10.74
2 INTERACTIVE INVESTOR SERVICES NOMINEES LIMITED 314,116,559 5.65
3 HARGREAVES LANSDOWN (NOMINEES) LIMITED 310,970,482 5.60
4 INTERACTIVE INVESTOR SERVICES NOMINEES LIMITED 276,793,532 4.98
5 HARGREAVES LANSDOWN (NOMINEES) LIMITED 265,266,541 4.77
6 BARCLAYS DIRECT INVESTING NOMINEES LIMITED 245,739,585 4.42
7 HSDL NOMINEES LIMITED 201,935,997 3.63
8 HSDL NOMINEES LIMITED 188,198,425 3.39
9 HSBC CLIENT HOLDINGS NOMINEE (UK) LIMITED <731504> 150,602,738 2.71
10 SHARE NOMINEES LTD 117,823,640 2.12
11 J P MORGAN NOMINEES AUSTRALIA LIMITED 86,640,261 1.56
12 VIDACOS NOMINEES LIMITED 67,937,742 1.22
13 LAWSHARE NOMINEES LIMITED 63,566,038 1.14
14 WEALTH NOMINEES LIMITED 60,949,683 1.10
15 JIM NOMINEES LIMITED 60,380,487 1.09
16 LAWSHARE NOMINEES LIMITED 57,918,697 1.04
17 HARGREAVES LANSDOWN (NOMINEES) LIMITED 42,814,761 0.76
18 HSDL NOMINEES LIMITED 42,190,675 0.68
19 INTERACTIVE INVESTOR SERVICES NOMINEES LIMITED 37,501,803 0.61
20 MR DAVID JAMES WALL 33,892,566 0.58
Total Units Held (Top 20 holders of ORDINARY FULLY PAID SHARES): 3,211,823,746 57.79
Total units on issue: 5,557,964,694 100
 

 

Registered Office & Principal Place of Business

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

Australia

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 1
83 Havelock 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

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