88 Energy Limited (formerly Tangiers Petroleum Limited) is an ASX listed exploration exploration company that has recently announced the acquisition of a new, potentially world class oil asset located in Alaska. It also has a 25% stake in the Tarfaya Offshore Block is located on the Moroccan Atlantic margin and was acquired by the company in 2009.

Alaska-project-icewine

morocco

http://88energy.com/

Tangiers Petroleum: From Morocco to Alaska for its next high-impact project

By Ian Lyall

November 20 2014, 7:38am
For Tangiers' next major projects it is swapping the warm waters off Morocco for the frozen wastes of America’s most northerly state. An update this morning reveals it has made a successful bid for almost 87,000 net acres in the Alaska North Slope area-wide sale.
For Tangiers' next major projects it is swapping the warm waters off Morocco for the frozen wastes of America’s most northerly state. An update this morning reveals it has made a successful bid for almost 87,000 net acres in the Alaska North Slope area-wide sale.


It may be time Tangiers Petroleum (LON:TPET) changed its name. For its next major project it is swapping the warm waters off Morocco for the frozen wastes of America’s most northerly state.

An update this morning reveals it has made a successful bid for almost 87,000 net acres in the Alaska North Slope area-wide sale.

It will be partnered on Project Icewine with Burgundy Xploration, which was the bid agent for the property, and will be carried on the first US$2mln spent on the property.

A 20% deposit totalling US$520,000 has been paid to the Department of Natural Resources Alaska, with the balance of around US$3mln, including first year rental costs, due in the second quarter of next year.

Next year’s budget is put at US$2.1mln, which comprises the purchase, reprocessing and re-interpretation of existing 2D seismic as well as planning activities and overheads. The target is a liquid-rich shale play.

Having an 87.5% interest in the property gives Tangiers significant wiggle room to bring in a partner later in the exploration process.

The change of focus follows the failure of the high-impact TAO well, offshore Morocco, to find oil or gas.

Managing director Dave Wall said: "Project Icewine is the first step towards rebuilding the company.

“Icewine ticks three of our key boxes for a start-up project: funding flexibility, ground floor entry and huge upside potential.

“In addition, the project is located in a prolific oil producing region, with good infrastructure and significant nearby activity by major industry players.

“The board is looking forward to working with our US partners in order to unlock the substantial value we believe resides within the project."

Not invested here, if anyone would like to start a new thread please go ahead.



Change of Company name
26 February 2015

TANGIERS PETROLEUM LIMITED

Change of Company Name and Code

As approved at the general meeting of shareholders on 12 February 2015,
Tangiers Petroleum Limited wishes to advise of its change of name to 88 Energy
limited.

The Australian Securities and Investments Commission recorded the change of
name on 26 February 2015.

For ASX purposes, the effective date for the Company name and AIM code change
will be on or around 3 March 2015. On that date, the AIM code will change from

Seems to have some legs this week. Looks like its new strategy of drilling in Alaska might well have been well chosen. Perhaps the dry hole in Morocco is a thing of the past. New management, new name, new country, new share price!

Updated the thread. :-))


88-energy-delighted-by-drilling-reports-close-to-icewine

88 Energy confirms acreage award in Alaska

By Jamie Ashcroft

May 28 2015, 7:54am
“We look forward with great anticipation to the upcoming drilling of the Icewine #1 well prior to year end.'
“We look forward with great anticipation to the upcoming drilling of the Icewine #1 well prior to year end."


88 Energy (LON:88E) has taken an important step forward as it prepares for its first well in Alaska.

The company this morning confirmed it has now formally been awarded the necessary documentation for the exploration acreage.

Joint venture partner Burgundy Xploration LLC, which was named the highest bidder for the project in November, has now received the award of 63 tracts of land, totalling 89,542 acres.

88 via its wholly owned subsidiary Accumulate Energy Alaska will have an 87.5% interest in the acreage, meanwhile Burgundy also retains a 4% royalty over any future production.

Accumulate will be the operator of the exploration project, and it is expected to be ‘on title’ in a matter of weeks.

Dave Wall, 88’s managing director, said: "Whilst the award and assignment process is largely administrative in nature, it is a crucial piece of the puzzle and another meaningful step forward for the company and its shareholders.”

“We look forward with great anticipation to the upcoming drilling of the Icewine #1 well prior to year end."

88 Energy chipper
StockMarketWire.com
88 Energy notes outstanding 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.

Managing director Dave Wall said: "The results reported by Repsol and Armstrong are outstanding and well above expectation. They clearly vindicate Repsol's US$768m deal with Armstrong in 2011 as well as highlight the success that can be achieved through utilisation of modern 3D seismic on the North Slope.

The flow rates, large areal extent, reservoir quality and oil gravity all point towards what are likely to be large to very large commercial discoveries, located only 50 miles from the boundary of our Project. Whilst the Icewine #1 exploration well is initially targeting the world class unconventional oil potential at Project Icewine, the results by Repsol/Armstrong provide an example of the scale of additional potential that may be unlocked in conventional plays once we acquire 3D seismic."

At 9:18am: (LON:88E) 88 Energy Ltd share price was +0.16p at 0.88p

Zoom ;-)

:-)) Well done Bullshare on this one.

:-)

proactiveinvestors, closeolgy-in-alaska-sparked-88-energy-share-rally.

lets just hope the neighbours very large finds are under 88E acreage.

A possible multi bagger. Looks like beers all round from Bullshare. :-))

bought in a few weeks ago... onwards and upwards !

moving up nicely last few days.

-high-likelihood-88-energy-will-find-oil-suggests-broker

A possible multi-bagger .?

Hopefully they will be able to spud their well in the next few days.

Positive news today ere permit.

Not in this.





88 Energy

23 Oct 2015 07:00:00




23 October 2015

Icewine #1 Drilling Commenced

88 Energy Limited (?88 Energy?, ?the Company?, ?Operator?) (ASX, AIM: 88E) is pleased to announce that the drilling of the Icewine #1 exploration well commenced at 1745 hrs on Thursday 22nd October (AK time). This is the maiden exploration well on the Company?s Project Icewine acreage, located onshore North Slope, Alaska.

Fig 1. Kuukpik Rig Just Prior to Spud (please refer to the pdf version of this announcement available from the Company?s website)

Source: Accumulate Energy Alaska Inc

The well is planned to a Total Depth of 11,600 feet and is scheduled to take 30 days of drilling to complete. The primary objective of the well is the HRZ shale formation targetting a huge unconventional resource prize.

Upon completion of drilling, certain data will be available immediately; however, the definitive testing of the HRZ shale potential will take several months of data analysis. The pivotal focus will be an extensive evaluation of core material by specialist laboratories, which will cover a number of parameters considered critical for the success of the play.

Conventional potential may also exist in shallower (Brookian) and deeper (Kuparuk) horizons and the well has been designed such that testing of these horizons is possible, if warranted. The drilling of Icewine #1 will deliver first insight to the conventional prospectivity of 88 Energy's acreage to be matured up by the potential acquisition of 3D seismic in the near term.

Regular announcements will be made during the course of drilling, as appropriate.

Managing Director of 88 Energy Limited, Dave Wall commented: ?Spud at Icewine #1 is a momentous occasion for 88 Energy and its shareholders, without whose support the well would not have been funded. Our thanks go to all the financial backers of the Company as well as the team on the ground in Alaska, who have hit the top end of the curve in relation to timing of permit submissions.

We would also to thank all of the regulatory bodies in Alaska whose collaborative approach has ensured that our tight timeline has been achieved. We hope to deliver a safe outcome that is beneifical to all stakeholders in State.

Good luck to all holders.?

Yours faithfully

Dave Wall
Managing Director
88 Energy Ltd

Moving ahead this am.