Company
88 Energy Ltd
LON:88E
88 Energy Ltd is a multi-listed oil and gas exploration and production company with a North American focus. The company has operator exploration and appraisal projects in onshore Alaska and non-operator exploration in onshore Namibia. It has been operating on the North Slope of Alaska since 2015, successfully drilling multiple exploration wells and acquiring extensive seismic data across a large acreage position.
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88 Energy set to expand Alaska oil exploration footprint
The nascent 'Project Leonis' benefits from historic well data and existing 3D seismic
88 Energy looks forward to next Alaskan exploration well
The Hickory well is planned as a test of multiple target on Alaska's North Slope
88 Energy selects location for Hickory-1 well
"We continue to advance our Icewine East acreage towards the planned drilling of an exploration well next year,” said managing director Ashley Gilbert
88 Energy has two estimates for Project Icewine Resource in Alaska
The estimates cover separate and independently mapped resources
88 Energy to raise A$14.9mln in placing to fund Icewine East exploration well
88 Energy is the operator of project Icewine with a 75% working interest
How did 88 Energy get its oil estimate?
Seemingly, a lot of 88’s estimates are built on nearby Pantheon Resources wells
88 Energy to raise at least A$10mln; estimate suggests it could be sitting on 1bn-barrel resource in Alaska
The group will look to raise A$10mln via a placing, plus up to another A$4.99mln in potential over-subscriptions
88 Energy confirms cash position and Texas production growth whilst investors eye neighbour’s well
Whilst Pantheon's well is in the spotlight, 88 Energy confirmed it had cash and said a programme of well workovers is growing production in Texas
88 Energy inks data deal to boost Icewine ahead of fresh farm-out efforts
A farm-out process seeks partnerships to support well drilling on Alaska's North Slope
88 Energy boosted as consultants complete mapping exercise at Icewine
Consultants saw similarities between Icewine and the nearby successes at Pantheon Resources projects.
88 Energy’s Texas wells put cash in the bank
New production, well programme completed, and more progress with Project Icewine
88 Energy gets early production lift at newly acquired Texas assets
A workover by Lonestar, the operator, immediately boosted oil and gas production rates
88 Energy expects new Icewine resource estimates in Q2
The explorer is working on plans for its forward work plans in Alaska
88 Energy’s Merlin-2 well result disappoints
The exploration share fell as disappointing latest results dash previously high expectations.
88 Energy completes Merlin-2 well in rapid time, wireline logging to start
"We look forward to results from the pending wireline program, which is set to be conducted over the next 7 to 10 days"
88 Energy says Merlin-2 well now en route to target depth
Target depth is expected to be reached in two weeks
88 Energy flying at Merlin-2 well in Alaska
Drilling began last week at the Merlin well, on Alaska's North Slope
88 Energy tipped as a ‘buy’ as high impact drilling gets underway in Alaska
Stockbroker Cenkos sees a valuation of 13.6p for the exploration company as it drills "one of the biggest wells of 2022".
88 Energy kicks off Merlin-2 appraisal well drilling
The appraisal well will test targets estimated at some 652mln barrels of oil.
88 Energy eyes resource update at Icewine amidst neighbour's success
88 Energy said the prospective resource report for Project Icewine is expected in the first half of 2022.
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Today's Oil and Gas Update: 88 Energy, President Energy, Vaalco Energy and more...
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88 Energy set to spud Merlin well next week
“Success at Merlin-2 has the clear potential to be transformational for our shareholders and we look forward to providing updates as the drilling of this appraisal well progresses," said chief executive Ashley Gilbert.
88 Energy to acquire producing assets in Texas
"The acquisition of Project Longhorn provides 88 Energy with immediate cash flow and direct exposure to any further strengthening in energy prices,” said chief executive Ashley Gilbert.
88 Energy says placing was oversubscribed, reveals move for Permian basin assets
"Completion of this placement ensures 88 Energy is funded to undertake the full suite of targeted appraisal activities at the Merlin-2 well.”
88 Energy launches equity raise as investors look forward to March well
It follows news that 88 Energy got the green light for its planned Merlin-2 well, to spud next month.
88 Energy gets green light for Alaska well
“We look forward with excitement to the drilling of the highly anticipated Merlin-2 appraisal well," said managing director Ashley Gilbert.
88 Energy shares join OTCQB market in US ahead of expected spud of Alaska well
"The OTCQB quotation provides 88 Energy with access to the world's largest investment market,” said managing director Ashley Gilbert
88 Energy says on-track to start Merlin-2 well in February
The follow-up to the Merlin-1 well is testing prospects estimated at some 650 mln barrels
88 Energy on-track for Merlin well spud in February
Merlin-2 is aiming at targets estimated at some 652mln barrels, seen previously in the preceding well.
88 Energy selects location for Merlin-2 well ahead of February spud
The explorer had its pick of three possible locations.
88 Energy prepares for Merlin-2 well as rig deal is inked
"We are delighted to be working with Doyon for the upcoming drilling of the Merlin-2 appraisal well in early 2022,” said managing director Ashley Gilbert
88 Energy updates on operations as it sits on comfortable cash pile
The group has planned the Merlin-2 appraisal well for the first quarter in 2022
Proactive weekly oil & gas highlights: Zephyr, 88 Energy, San Leon, COPL, Mosman, Block, Westmount Energy, Eco Atlantic, Jersey Oil and Gas, Union Jack, Empyrean
It was another active week in the oil and gas sector.
88 Energy maxes out share sale to raise A$23.96mln
The explorer launched the placing on Monday with an initial target to raise A$20mln
88 Energy launches A$20mln equity raise as it eyes next steps in Alaska
Brokers Cenkos and EurozHartleys are undertaking a bookbuild for a share placing, capped at A$23.96mln without the need of shareholder approval
88 Energy planning Merlin appraisal as latest analysis confirms light oil
"We are thrilled with the results from the Merlin-1 exploration well,” said managing director Ashley Gilbert
88 Energy confirms financial health, expects comprehensive Merlin well details imminently
It was an active half for corporate activity whilst operationally the focus was on the Merlin well, and the detailed analysis thereafter
88 Energy extends Umiat oil project by two years
The Umiat oil project is located adjacent to Project Peregrine acreage, which analysis efforts are ongoing.
88 Energy appoints Philip Byrne as new chairman
"I am delighted to be joining the 88 Energy team at this exciting time,” Byrne said
Proactive Oil & Gas weekly highlights: Tlou Energy, Eco (Atlantic) Oil & Gas, ADM Energy…
It was another active week in the small-cap oil and gas sector
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A glance at some of the day's highlights from the Proactive Investors newswire
88 Energy looking forward to sharing final Merlin-1 results with investors
Management changes and asset deals featured in the quarter, but attention has been focused on the drip of analysis results from Merlin
88 Energy completes 100% acquisition of Project Peregrine
It now owns 100% of the exploration acreage on the North Slope
88 Energy sees more evidence of hydrocarbons in Merlin well analysis
Final analysis results are expected by the end of this month, and, the latest findings have again shown hydrocarbons
Archive
Small-cap movers: 88Energy surges as it clears its debt but Tricorn gets bent out of shape over accounts irregularities
A look at some of the major movers in the small-caps sector this week
88 Energy says latest analysis “definitively demonstrates” hydrocarbons in Merlin-1 well
The Alaska explorer said it is highly encouraged by the preliminary results received to date from the Merlin-1 testing programme
88 Energy sells Alaska tax credits for US$18.7mln to repay debt
"This is a transaction which accelerates the realisation of value of the Alaskan Oil and Gas Tax Credits and the early repayment of outstanding debt due to be repaid by the end of 2022,” said Ashley Gilbert
88 Energy buys out its partner on Project Peregrine
The parties agreed that the greatest value would be obtained via 88 Energy acquiring APDC's interest in the project
88 Energy says lab analysis shows 'encouraging evidence of oil' in Merlin well sample
"The presence of oil is highly encouraging particularly given that the two most prospective horizons were not able to be sampled due to operational issues," the company said
88 Energy announces Ashley Gilbert as new managing director
The management changes come as the company continues exploration efforts in Alaska.
88 Energy sets out timelines for Merlin-1 analysis
"The oil shows and other encouragement seen in the Merlin-1 well bodes well for the potential at Project Peregrine," said Dave Wall.
88 Energy highlights Merlin well can be re-entered for testing
The company ended the quarter with a healthy cash balance.of A$20mln.
88 Energy reports further evidence of oil in Merlin-1 well
“Whilst these results are confirmatory of the cuttings data and were expected, it is reassuring to see," said Dave Wall.
88 Energy updates on results from Merlin-1 well in Alaska
Multiple prospective zones were identified as part of the first run of the wireline programme
Proactive weekly oil and gas highlights: 88 Energy, Harbour, Zephyr, Westmount, Touchstone Exploration, Tower Resources, Advance Energy, Union Jack Oil, Deltic
It was a short but active week in the small-cap oil and gas sector.
What’s next for 88 Energy Ltd as investors wait on Alaska oil results
The Alaska explorer's shares are very much in demand as early-stage well results have been released in recent days.
88 Energy expects next Merlin well results “over the weekend”
The explorer's shares are up more than 600% in the past month as speculative investors position for the potentially high impact Merlin-1 well.
88 Energy sees multiple potential hydrocarbon zones in Merlin well
Further analysis is required to confirm any discoveries nonetheless the company highlighted encouraging well results to date.
Proactive weekly oil & gas highlights: 88 Energy, Touchstone Exploration, ADM, BPC, Chariot Oil & Gas, Union Jack Oil
It was another eventful week in the small-cap oil and gas sector.
88 Energy shares soar ahead of anticipated Merlin well results
The AIM-quoted exploration share opened around 40% higher on Tuesday.
88 Energy raises $6.48mln as Merlin drills ahead towards targets
Drilling is ongoing and advancing towards the well's targets.
88 Energy shares rocket for unknown reason
The company said it is not aware of any specific reason for the increase
Proactive oil & gas weekly highlights: 88 Energy, Westmount, United Oil & Gas, Genel, Aminex, COPL, DGOC
It was another eventful week in the small-cap oil and gas sector.
88 Energy confirms spud of Merlin exploration well in Alaska
“Drilling has now commenced at Merlin-1, with results expected within the next 4 weeks,” said managing director Dave Wall
88 Energy eyes March 8 spud for Merlin-1 exploration well
“Success at Merlin-1 would be transformational," says managing director Dave Wall.
88 Energy looks forward to Merlin well drilling
The Merlin prospect was estimated a year ago to possibly host some 645mln barrels of oil and it will be tested in the coming weeks
Proactive Oil & Gas weekly highlights: 88 Energy, COPL, Block Energy, Bahamas Petroleum, United Oil & Gas, ADM, TomCo, Genel
It was another eventful week in the junior oil and gas sector.
88 Energy starts rig mobilisation for Merlin-1 well
Drilling is slated to start in early March and will take up to four weeks
Proactive Oil & Gas weekly highlights: 88 Energy, Zephyr, Jersey Oil and Gas, Tower Resources, Bahamas Petroleum, Block
It was another eventful week in the junior oil and gas sector.
88 Energy to raise A$12mln ahead of Merlin well
The Alaska explorer plans to bolster its funds ahead of new well drilling, and, it also announced that managing director Dave Wall will leave the company in May
Proactive weekly Oil & Gas highlights: 88 Energy, Cadogan Petroleum, Curzon, COPL, Mosman Oil and Gas, San Leon Energy ....
It was another active week in the small-cap oil and gas sector
88 Energy counts down to drilling at Merlin
The permit to drill was approved on January 29, before an expected spud date of February 12.
Proactive weekly Oil & Gas highlights: Zephyr, 88 Energy, Union Jack, Genel, Aminex, Mosman, Eco Atlantic ...
It was another busy week in the small-cap oil and gas sector.
88 Energy rallies as company readies for permit and start of Merlin well operations
“We are fortunate to have strong local support in Alaska and, as a result, will soon be back on track for the drilling," managing director Dave Wall said
88 Energy highlights “positive progress” as it awaits clarity over Alaska permit
“We anticipate being able to get clarity on the situation within the next week," said managing director Dave Wall
88 Energy says it is temporarily minimising spending in Alaska as it awaits clarity on drill permit
"We anticipate being able to get clarity on the situation within the next week,” said managing dirtector Dave Wall
88 Energy continues to advance Icewine and Peregrine opportunities
The explorer advanced farm-out activities, planning for future programmes and expanded its footprint in the North Slope region of Alaska
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Archive
Today's Oil and Gas Update - Wentworth Resources; Zephyr Energy; Tower Resources
Oil Price News Saudi Aramco has sent a strong signal to the market with its February 2021 official selling prices, surpassing market expectations All Asia-bound grades were materially increased by 20-70 cents/bbl, with steeper increases in
88 Energy acquires Umiat oil field in Alaska
It is an opportunistic deal that bolsters the portfolio of projects on Alaska's North Slope
Proactive oil & gas weekly highlights: 88 Energy, COPL, Bahamas Petroleum, SDX, United Oil & Gas, Mosman, Zephyr
It was a fairly busy start to 2021 for the small-cap oil and gas sector.