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August 30, 2015 5:12 PM ET

Oil, Gas and Consumable Fuels

Company Overview of 88 Energy Limited

Company Overview

88 Energy Limited engages in the oil and gas exploration activities in Morocco and the United States. It holds 87.5% working interest in Project Icewine with 99,360 contiguous acres located onshore on the North Slope of Alaska, the United States. The company was formerly known as Tangiers Petroleum Limited and changed its name to 88 Energy Limited in February 2015. 88 Energy Limited is based in West Perth, Australia.

83 Havelock Street

Level 1

West Perth, WA 6005

Australia

Phone:

61 8 9485 0990

Fax:

61 8 9117 2012

Key Executives for 88 Energy Limited

Managing Director and Director
Total Annual Compensation: $283.4K
Compensation as of Fiscal Year 2014.

88 Energy Limited Key Developments

88 Energy Limited, Special/Extraordinary Shareholders Meeting, Aug 21, 2015

88 Energy Limited, Special/Extraordinary Shareholders Meeting, Aug 21, 2015., at 10:00 W. Australia Standard Time. Location: Celtic Club48 Ord Street. Agenda: To issue up to 1,030,000,000 shares on the terms and conditions set out in the Explanatory Statement; to consider ratification of prior issue of shares; and to consider issue of options.

88 Energy Limited Announces Drilling Results

88 Energy Limited provided an update related to exploration success by the Repsol /Armstrong Joint Venture on nearby acreage in conventional play fairways that may extend and be prospective at the company’s Project Icewine. Two Nanushuk wells were tested this year, including the Qugruk 8 (Q-8) vertical well, which tested a small portion of the net pay zone and flowed 30 degree API gravity crude at rates of up to 2,160 barrels of oil per day (BOPD). The Qugruk 301 (Q-301), two miles north of Q-8, tested a 2,000 foot horizontal lateral. The well flowed at tubing constrained rates as high as 4,600 BOPD with minimal bottom hole pressure drawdown. The activity to date since the beginning of exploration has resulted in the discovery of several oil fields on the North Slope of Alaska. All 16 wells (including sidetracks) drilled by the consortium have found hydrocarbons, most with multiple pay zones. In the Nanushuk reservoir, the consortium has drilled seven appraisal wells to date and has proven an oil pool that covers more than 25,000 acres, at a depth of 4,100 feet, with an oil column of 650+ feet, and up to 150 feet of net pay with an average porosity of 22%.

88 Energy Limited Appoints Erik Opstad as General Manager of Alaskan Operations

88 Energy Limited announced the appointment of Mr. Erik Opstad as General Manager of Alaskan Operations. Operations. Mr. Opstad has managed successful drilling campaigns on the North Slope in recent times, similar to that planned by the Project Icewine Joint Venture. His most recent experience was as Principal and General Manager /Drilling & Wells Manager for Savant Alaska LLC.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
November 20, 2014
Large Acreage Position in Project Icewine
 

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