88 Energy Limited

88 Energy Ltd is an oil and gas exploration company focused on leveraging proven basin expertise to unlock world-class hydrocarbon potential. The company is advancing oil and gas interests across Alaska and recently expanded into Namibia, Africa.

Headquartered in Perth, Western Australia, 88 Energy’s portfolio includes both production and exploration assets. The company holds 62% interest in the Project Longhorn assets in the Permian Basin, Texas which includes 2.98MMBOE of 2P reserves producing approximately 325BOE/day. This conventional production generates cash flow to support 88 Energy’s high-impact exploration activities.

88 Energy also operates on the North Slope in Alaska where Project Peregrine has a 2,423MMBO mean prospective resource with multiple drill-ready prospects in the Nanushuk formation, and in two other discovered resources at Project Icewine (~75% working interest) with a 1,110MMBO mean prospective resource and the Umiat Oil Field (~51% working interest) containing 94MMBOE of 2P reserves.

Most recently, 88 Energy executed a staged farm-in agreement for up to 45% working interest in Petroleum Exploration Licence 93 covering 18,500km2 in the highly prospective Owambo Basin, onshore Namibia. An active work program is planned including a 2D seismic survey in 2024, ahead of targeted drilling from late 2025.