88 Energy Limited
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- 88 Energy Limited (ASX:88E, AIM:88E, OTC:EEENF) is an Australia-based oil and gas exploration and production company focused primarily on high-impact projects in onshore Alaska and Namibia; it operates through segments including oil and gas exploration in Alaska, USA, oil and gas production in Texas, USA, and oil and gas exploration in Namibia. The company holds extensive operated acreage on Alaska's North Slope, including recent acquisitions of 14 new leases covering approximately 34,560 acres in the South Prudhoe and Kad River East areas adjacent to the Prudhoe Bay Unit and Trans-Alaska Pipeline System; these positions target proven Ivishak Formation reservoirs with characteristics such as 20% porosity and 50-100 mD permeability, alongside shallower Canning and USB reservoirs, supported by planned 3D seismic licensing and reprocessing in early 2026. Core assets encompass Project Phoenix with a 45% non-operated working interest featuring recent successful flow tests from the Hickory-1 well; Project Leonis and expanded North Slope leases offering multi-zone prospects like Prospects A, M, and C; a non-operated interest in Namibia's onshore Petroleum Exploration License 93 covering 18,500 square kilometers in the Owambo Basin; and production exposure from the Longhorn field in the Texas Permian Basin operated by Lonestar I, LLC, which generates stable cash flows to support exploration activities. Founded in 1996 and headquartered in Subiaco, Western Australia, the company recently entered a Farmout Participation Agreement in February 2025 with Burgundy Xploration LLC for Project Phoenix, under which Burgundy funds up to US$29 million for a two-phase work program including appraisal drilling; it also completed divestment of certain interests, relinquished historical Peregrine and Umiat acreage to optimize its portfolio, and advanced farm-out discussions across its Alaskan assets while receiving final payments from joint venture partners. 88 Energy targets conventional prospective resources estimated in hundreds of millions of barrels of oil equivalent across its Alaskan projects, serving the upstream oil and gas sector with a strategy emphasizing infrastructure proximity, data-driven exploration, and partnerships to de-risk development in prolific North American basins.
88 Energy confirms robust cash position as exploration work continues
88 Energy receives farm-out funds for Phoenix
88 Energy's new farm-out deal has revealed the value being created at Phoenix
88 Energy inks new farm-out for Project Phoenix to fund horizontal well
88 Energy reminds investors of the size of its opportunity in Alaska
88 Energy's new maiden resource estimate sees big opportunity at Leonis
88 Energy highlights financial position as it updates on projects
88 Energy looks to 'rapidly unlock' potential of North Slope with Alaskan JV progressing
88 Energy increases its Alaska footprint by acquiring 'highly prospective' leases
88 Energy adds to acreage on Alaska North Slope
88 Energy adds ten potential targets in Namibia
88 Energy to advance resource estimates and well selection in Namibia as it completes seismic reprocessing
88 Energy sees new 50% upgrade to Project Phoenix resources
88 Energy saw progress across multiple projects, though Phoenix remains primary focus
88 Energy updates on Alaska oil flow tests
88 Energy confirms healthy cash position after active quarter
88 Energy says it successfully completed Namibia seismic
88 Energy kicks off seismic programme onshore Namibia
88 Energy completes maiden resource estimate at Project Leonis
88 Energy hires contractor for Namibia seismic