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88 Energy

(ASX:88E, AIM:88E)


Overview

πŸ“‹ About: 88 Energy (ASX: 88E | LON: 88E | OTC: EEENF) is an early stage oil explorer that operates in the North Slope of Alaska.

Project Peregrine: 1.6 billion barrel gross mean unrisked recoverable prospective resource on the North Slope of Alaska.

Project Icewine: Operator on majority of ~260,000Β  contiguous acres (~200,000 net) onshore Alaska in prolific oil-rich province with multiple objectives

🌏 Macro Theme: Oil & Gas was unloved in 2020 during COVID-19 pandemic and a rebound is expected in 2021

Project Peregrine (Main Bet #1)

Project Overview
βœ… Acquired Project Peregrine
βœ… Farmout Agreement Secured
βœ… Buy back of 100% of Project Peregrine from APDC
πŸ”² Farmout Peregrine to potential new partner
πŸ”² Planning for a possible in-fill 2D or 3D seismic

Merlin-1

βœ… Drilling Permit Secured
βœ… Drilling Commenced
βœ… Drilling Complete
🟩 Lab Results 1: Evidence of Oil in Downhole Samples
🟩 Lab Results 2: Light Oil Detected

Merlin-2

πŸ”„ Drill Rig Secured
πŸ”„ Drilling Permits Secured
πŸ”² Drill Rig Mobilized to Site
πŸ”² Drilling Commenced [Q1 2022]
πŸ”² Drilling Complete
πŸ”² Lab Results 1
πŸ”² Lab Results 2
πŸ”² Lab Results 3

88 Energy Corporate Milestones

βœ… Next Investors Portfolio Initiation
βœ… Capital Raise $10M @0.6c
βœ… Capital Raise $24M @2.8c
βœ… ESG Reporting Adopted
πŸ”² Unexpected Announcement 1
πŸ”² Unexpected Announcement 2
πŸ”² Unexpected Announcement 3

Project Icewine (Side bet)

βœ… Drilling Results (Charlie-1)
βœ… Resource Upgrade
βš”οΈ Positive results from neighbour Pantheon Resources drilling
πŸ”² Farmout of acreage to fund an appraisal well
πŸ”² Commercialisation Opportunities (Charlie-1)

Umiat (Side Bet)

βœ… Acquired Project
πŸ”„ Assess development options
πŸ”² New Milestones Added

Yukon Leases (Side Bet)

πŸ”„ Negotiations with Nearby Resource Owners
πŸ”² Projects Aggregated into Joint Development Area
πŸ”² New Milestones Added

Investment Milestones

1st Key Drilling Event - Feb 2021
βœ… Initial Investment: @0.5c (
β‰ˆ9 months before key drilling event)
βœ… Increase Investment: @0.6c (β‰ˆ6 months before key drilling event)
βœ… Price increases 500% from initial entry
βœ… Price increases 1000% from initial entry
πŸ”² Price increases 2000% from initial entry
βœ… Free Carry (days before key drilling event)

βœ… Take Some Profit (days before key drilling event)
βœ… Hold position for key drilling event
βœ… Decide New Investment Plan after results of key drilling event

2nd Key Drilling Event - Q1 2022
βœ… Increase Investment: @2.5c (β‰ˆ9 months before key drilling event)
πŸ”² Increase Investment
πŸ”² Increase Investment
πŸ”² Price increases 200% from investment
πŸ”² Price increases 400% from investment
πŸ”² Price increases 600% from initial entry
πŸ”² Free Carry (days before key drilling event)
πŸ”² Take Some Profit (days before key drilling event)
πŸ”² Hold position for key drilling event
πŸ”² Decide New Investment Plan after results of key drilling event
"Expected Company Milestones" are based on the company's publicly available execution plan and some assumptions made by our team on potential announcements that should de-risk the investment. β€œOur investment milestones” show our current long-term investment plan. Early stage investments are risky and there is no guarantee that the expected events will occur. The lists are not in sequential order.

Key

πŸ”² Expected Milestone
βœ… Achieved Milestone
🟩 Above Average Result
🟨 Average (Expected) Result
🟧 Below Average Result
πŸŸ₯ Negative Result
🌎 Macro Event
πŸ”„ In Progress
βš”οΈ Results from Other Company / Project
[UPA] Unexpected Positive Announcement
[NEW] New Milestone Added



Our Past Commentary on 88 Energy





Most recent catalysts for 88 Energy

88E to Drill 1.6BN Barrel Project in the Coming Days
88 Energy Weeks Away from Drilling One of 2020’s Biggest Oil Wells
$11BN Energy Giant Sets up Shop Near 88E in Alaska: M&A Activity Sparked?
Oil Drilling in Weeks: Multi-Hundred Million Barrel Potential

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