88 Energy expands exploration footprint in Alaska
"Tract 29 is considered highly prospective as there is evidence of existing discoveries to the west extending into this area,” said managing director Dave Wall
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 advancing “full steam ahead” to Merlin well
The explorer is counting down to drilling, which is set to start in six to eight weeks' time
88 Energy signs up rig contractor for Merlin and Harrier wells
“Drilling at Project Peregrine is moving ahead as planned and we are only 3 months away from spud," said Dave Wall, chief executive.
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88 Energy strikes farm-out deal for Project Peregrine
Managing director Dave Wall described the deal as a "major coup for shareholders"
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Market Update: Tuesday 24 November 2020 Block Energy (AIM:BLOE): Acquisition of SRCL confirmed, further US$1.5m boost to inventory Eco (Atlantic) Oil & Gas* (AIM:ECO): Interim results, robust financial position Victoria Oil & Gas Plc (AIM:V
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Energy Prices Brent Oil US$45.9/bbl vs US$44.4/bbl on Friday WTI Oil US$43.2/bbl vs US$41.5bbl on Friday Natural Gas US$2.72/mmbtu vs US$2.63/mmbtu on Friday
88 Energy completes bookbuild for A$10mln share placing
Institutional and sophisticated investors are backing 88 Energy's exploration plans in Alaska.
88 Energy launches A$10mln share placing to fund Alaska exploration
It comes as the explorer is advancing farm-out efforts for the Peregrine and Icewine projects, which both come with blue-sky resource potential.
88 Energy tipped for 600% upside as it looks to turn big potential into success in Alaska
Farm-outs and exploration well remain the name of the game for 88 Energy, and Cenkos reckons the AIM firm could be worth 2.8p per share.
88 Energy sees 1.77bn barrels at Project Icewine after resource review
The Lima Fan prospect has grown to 1.4bn barrels from the 100mln barrels seen prior to the drilling of the Charlie-1 well
88 Energy selects preferred Peregrine farm-out partner as process enters final phase
The explorer is advancing to seal the farm-out transaction and eyes spud of the first Peregrine well by February
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88 Energy highlights Alaska progress as it eyes fresh farm-outs
The recently expanded Alaska explorer is advancing multiple projects towards farm-out deals designed to bring new well catalysts for the future
88 Energy lifts stake in Charlie to 75% as it eyes new farm-out
The Alaska explorer increases its stake in the Charlie area (Area A) and is working towards a new farm-out, meanwhile, a separate process for Project Peregrine is advancing with multiple interested parties
88 Energy advancing Peregrine farm-out as seismic data boosts exploration prospects
A data room has opened and commercial talks are taking place with multiple potential exploration partners
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88 Energy says Charlie well’s SeaBee discoveries are bigger than first thought
"The results from the Seabee, despite Charlie-1 not being optimally located, are outstanding,” said managing director Dave Wall
88 Energy starts next phase in solid financial position
The acquisition of XCD was a key highlight of the first half ended June 30, 2020
88 Energy highlights takeover progress among key quarterly highlights
88 Energy is combining with Alaska exploration peer XCD to expand its footprint and prospect inventory
88 Energy set to move XCD offer to compulsory acquisition
The plan is to create an explorer with a diversified portfolio on Alaska’s North Slope.
88 Energy extends deadline for XCD Energy takeover offer
Acceptances increased to 79% in the past week, from 37% a week ago, and the company aims to secure at least 90% so that it can take the rest by compulsory purchase.
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88 Energy takeover offer for XCD Energy goes unconditional
The buyer now has the backing of 59.27% of XCD's shares and said it won't improve its offer further
88 Energy confirms XCD shareholder acceptances as takeover offer progresses
XCD holders have until June 25 to take action, and, 88 Energy has noted that XCD’s directors have recommended the offer and have now accepted in respect of their own holdings
88 Energy highlights ‘originally preferred’ location for a Charlie well in Alaska
The explorer discussed an alternative drilling location for Charlie which it says was preferred prior to Premier Oil's involvement in the project
88 Energy takeover target XCD upgrades resource estimates for Project Peregrine
Estimates for the Alaskan exploration acreage have been improved by consultant ERC Equipoise
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88 Energy agrees recommended takeover of XCD Energy
XCD's board has agreed to recommend an improved offer for the takeover
88 Energy can be one of the largest acreage holders on Alaska’s North Slope - Cenkos
The stockbroker describes the explorer's tilt for XCD Energy as an attractive proposition.
88 Energy launches A$7.5mln takeover bid for Alaska explorer XCD Energy
The takeover approach aims to create a consolidated Alaska explorer with expanded acreage on the North Slope
88 Energy says latest Charlie-1 well findings are “encouraging”
Further analysis of secondary targets exceeds the pre-drill expectations, for those areas, albeit that the well was not optimally positioned to assess them
88 Energy says does not expect any cost for Charlie well, fresh farm-out eyed
Earlier this well the company revealed disappointing results from the Charlie-1 well
88 Energy to wrap-up Charlie-1 testing due to “mixed” results
The primary target was not a success and joint venture partner Premier Oil has decided to exit the project – but, multiple secondary targets were still seen to have hydrocarbons
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Small Cap Wrap - Frontier IP Group; 88 Energy Ltd; Oncimmune Holdings and more....
Frontier IP Group (LON:FIPP) 65p £32.9m Frontier IP, a specialist in commercialising intellectual property, has raised its equity stake in portfolio company Celerum Limited from 10 per cent to 33.8 per cent. The increase is in return for an
88 Energy to host AGM online to comply with coronavirus rules on social distancing
The company's AGM is due to take place online on Thursday 9 April
88 Energy’s Charlie drilling completes, ‘shows’ seen in multiple horizons
It is designed as a follow-up to BP's Malguk discovery well, and, initial data is so far “largely consistent” with the historic results
88 Energy updates on Charlie-1 after weather related delay
Following a brief delay the well programme will now advance, with initial results anticipated in April
88 Energy gives Charlie-1 progress update
Charlie-1 aims to intersect up to seven stacked prospects and Premier Oil is covering well costs.
88 Energy higher as it kicks off Charlie-1 appraisal well in Alaska
"The Charlie-1 well has been four years in the making for 88 Energy, beginning in 2016 when we first acquired 2D seismic over our project Icewine acreage"
88 Energy relays key well details as Charlie countdown continues
Following the team-up deal with Premier Oil the AIM and ASX quoted explorer is looking forward to the start of drilling, in late February.
88 Energy expects Charlie well to spud in late February
A permit to drill has now been awarded, the ice road is more than 80% complete and rig mobilisation is slated to start in around ten days.
88 Energy raises A$5mln ahead of Charlie well programme
Unsolicited demand for shares was amongst the catalysts for the pre-drill placing, 88 Energy revealed
88 Energy says considering potential capital raising as share trading halted on ASX
The group said it is currently intended that any such capital raising will utilise the company's existing authorities and will not be subject to shareholder approval
88 Energy on track for February spud at Charlie-1 in Alaska
Charlie-1 will intersect seven stacked prospects, four of which are considered appraisal targets.
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88 Energy says Charlie-1 well is “progressing to plan” ahead of February spud
"The New Year is off to a busy start for the Alaska operations team with all activity progressing as planned,” said managing director Dave Wall
88 Energy says work on ice road to appraisal well should start before 2020
Drilling is scheduled to commence in February 2020 with flow testing anticipated to conclude in April 2020
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88 Energy finalises Premier farm-out as countdown for Charlie well continues
Investors in AIM-quoted 88 Energy are looking forward to February's Alaska well in partnership with Premier Oil.
88 Energy continues countdown to Charlie-1 well in Alaska
“Charlie-1 will intersect seven stacked prospects, four of which are interpreted as oil bearing in Malguk‑1 and are therefore considered appraisal targets”
88 Energy’s Charlie well may be the explorer’s best opportunity to date
A partnership deal with Premier Oil this summer put the explorer's Charlie project under the spotlight.
88 Energy prepares for Charlie-1 well as completion of Premier Oil pair-up nears
Next month the Premier Oil farm-out will complete, giving the new partner some 60% of the project.
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88 Energy advances key projects in first half
88 Energy said it continues to receive third-party interest in the HRZ shale project for a farm out
88 Energy Limited raised A$6.75mln
The new cash injection will be used to bankroll the additional costs of the Charlie-1 well over and above the expenditure being carried by its partner, Premier Oil
88 Energy launches A$10mln equity funding
Coming after last month's farm-out to Premier the AIM-quoted explorer plans to raise AS$10mln with a placing.
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88 Energy details Icewine’s conventional resources after Premier Oil farm-out
Premier Oil agreed to pay US$23mln of costs for the planned Charlie well.
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88 Energy welcomes Premier Oil to Project Icewine joint venture
88 Energy will operate the Charlie-1 (i.e. Malguk-1) discovery well
88 Energy says preferred bidder on Project Icewine is to facilitate near term operational activity while final farm-out terms are agreed
Project Icewine is located on the Central North Slope, Alaska.
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Kibo Energy the day's top riser as its moves to secure total ownership of the Bordersley project
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88 Energy reveals advancing farm-out process for Project Icewine
The proposed farm-out is evidently moving forward, as the potential new partner has completed internal approvals.
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FTSE 100 still stuck in neutral; G20 meeting can't come soon enough
Bitcoin is up more than 10% but the shine has come off gold a bit
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88 Energy anticipates Icewine farm-out decision in June
A deal for the conventional portion of the Project Icewine asset is expected in the coming weeks, while the formal process for the shale project will come later in the year.
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Trifast finishes financial year with a flourish
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88 Energy continues to look forward to an Icewine farm-out
A deal would potentially tee up an ‘exploration/appraisal’ well next year
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FTSE 100 closes lower ahead of the Easter weekend
The UK's premier stock index finished down around 11 points at 7,459
Jersey Oil and Gas’s recent share plunge could be overdone, along with other small cap oilers
Jersey's dry well result from the Verbier project in the North Sea sent its share tumbling on Wednesday afternoon
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Carnival sinks as it lowers full-year guidance
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88 Energy’s exploration partner Red Emperor continues to evaluate Alaska potential
Red Emperor told its investors that 88 Energy had completed the programme on time and 'on or slightly under' budget
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FTSE 100 closes higher as global growth fears ease, but Carnival shares sink
The UK's premier index closed up nearly 19 points at 7,169, while FTSE 250 added over 96 at 8,896
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SimplyBiz boosted by agreement to acquire financial adviser Defaqto
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88 Energy outlines Alaska opportunities as farm-out deal moves closer
The explorer has multiple exploration opportunities, being advanced concurrently and despite recent disappointment other potentially significant assets remain in the Alaska portfolio
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FTSE 100 closes firmly in red as traders flee risk ahead of Fed statement
The UK blue-chip index finished down nearly 33 points lower at 7,291
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Cantor Fitzgerald keeps ‘buy’ on 88 Energy despite chopping back its target price after Winx-1 disappointment
The City broker's analysts said: “Focus will now shift to the proposed farm-out of the Icewine conventional portfolio, where a deal is targeted this quarter”
Gooch & House on the march after contract win
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88 Energy’s latest analysis reveals disappointing result for Alaska exploration well
“Analysis of the data is ongoing; however, it is deemed unlikely to change the current view in a material fashion,” said Dave Wall
FTSE 100 closes marginally higher ahead of next Parliamentary vote on Brexit
The January US Durable Goods Orders and Shipments Report showed that business equipment investment got off to a sluggish start this year, Berenberg Capital Markets noted
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Small cap movers: Red Emperor shares seesaw on news from Alaskan well, but it’s still not clear what exactly is in the ground
A look back at some of the more interesting stories from the junior market over the past week
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Well updates and takeover talk provided some of the week's biggest stories.
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IWG shrugs off profit fall with upbeat outlook
A look at some of the biggest risers and fallers on the London stock market on Wednesday.
88 Energy confirms Winx-1 well reached total depth and hit multiple potential pay zones
“Whilst it is still early days, we are well placed and look to the wireline program with measured optimism," Dave Wall said
Investments and investor services
GAN trumpets winning of an industry award ... the shares fall
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