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88 Energy Ltd

88 Energy Limited - Change of Registered Office

RNS Number : 6464B
88 Energy Limited
05 April 2017
 

 

 

5 April 2017

 

88 Energy Limited

 

Change of Registered Address

 

88 Energy Limited ("88E", "Company") wishes to advise that its registered office and principle place of business have changed to:

 

Level 2

5 Ord Street

West Perth WA 6005

 

The Company's main telephone and fax numbers remain unchanged.

 

Media and Investor Relations:

 

88 Energy Ltd

Dave Wall, Managing Director                                                    Tel: +61 8 9485 0990

Email: admin@88energy.com

Finlay Thomson, Investor Relations                                           Tel: +44 7976 248471

 

Hartleys Ltd

Dale Bryan                                                                                  Tel: + 61 8 9268 2829

 

Cenkos Securities

Neil McDonald/Derrick Lee                                                         Tel: +44 131 220 6939

 

About 88 Energy: 88 Energy has a 77.5% working interest and operatorship in ~271,000 acres onshore the prolific North Slope of Alaska ("Project Icewine"). Gross contiguous acreage position will expand on award of additional leases successfully bid on in the December 2016 State of Alaska North Slope Licensing Round.The North Slope is the host to the 15 billion barrel Prudhoe Bay oilfield complex, the largest conventional oil pool in North America. The Company, with its Joint Venture partner Burgundy Xploration, has identified  highly prospective play types that are likely to exist on the Project Icewine acreage - two conventional and one unconventional. The large unconventional resource potential of Project Icewine was independently verified by leading international petroleum resource consultant DeGolyer and MacNaughton. In addition to the interpreted high prospectivity, the project is strategically located on a year-round operational access road and only 35 miles south of Pump Station 1 where Prudhoe Bay feeds into the Trans Alaska Pipeline System. The Company acquired 2D seismic in early 2016 to take advantage of the globally unique fiscal system in Alaska, which allowed for up to 75% of 1H2016 exploration expenditure to be rebated in cash. Results from the seismic mapping and prospectivity review are encouraging, and form the basis of a conventional prospectivity portfolio for Project Icewine. In late 2015, the Company completed its maiden well at the project, Icewine#1, to evaluate an unconventional source rock reservoir play which yielded excellent results from analysis of core obtained from the HRZ shale. A follow-up well with a multi-stage stimulation and test of the HRZ shale, Icewine#2, is due to spud early 2Q2017.

 


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