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/

https://youtu.be/MzHJ5SSQRBk

Proactive investor -88 Energy’s conventional oil potential is becoming very hard to ignore
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09:02 27 Oct 2016
“There’s a lot more oil to be discovered on the North Slope, we’re seeing that happening and hopefully we’ll be next,” says 88 Energy managing director Dave Wall.

88 Energy will drill a shale well in 2017, but there'll be two conventional wells nearby
The conventional oil potential at Project Icewine may be the ‘sleeper’ in the 88 Energy Ltd (LON:88E, ASX:88E) portfolio, but it’s the kind of noisy sleeper that has become very hard to ignore.
Icewine’s HRZ shale, a now-proven system on Alaska's North Slope estimated in excess of 2.5bn barrels, is obviously priority number one.
And in the coming months, attention will be firmly on 88 Energy’s second well, due to spud in March.
Nevertheless, the conventional play could be a big deal too.
88 Energy’s seismic and partial desktop analysis has identified some 20 exploration leads – the interpretation process is only half way through.
The detailing of the ‘top five’ thus far gives the company around 750mln barrels of potential resources.
The ever-growing catalogue of exploration opportunities is the reason for the over-run on the current phase of desktop work, according to 88 Energy boss Dave Wall.
“I think one of things that we haven’t really managed that well is people’s expectations in the market about timing of when this (seismic interpretation) would be complete,” Wall told Proactive Investors.
“I guess the short story is that if we were seeing nothing or very little – it would have been complete a long time ago.
“But, because we are seeing a lot more than we were expecting to see it is taking longer.”
Wall added: “Hopefully people can understand that it is taking longer for good reason.”
Alpha is perhaps the ‘best’ - albeit not the largest - of the new conventional exploration leads.
It is estimated at around 118mln barrels and, significantly, it is conveniently located in terms of surface infrastructure.
Running beneath the road and pipeline infrastructure in the Icewine area, Alpha could be an ideal starting point for conventional exploration.
In fact, Wall says it could even be tested from the same gravel pad that will host the upcoming Icewine 2 shale well.
Bravo, as its name suggests, is the second most notable new exploration opportunity.
It is much bigger than Alpha, currently estimated at 273mln barrels, but it is not quite as accessible.
Investors will no doubt be excited to hear the full findings once the analysis and cataloguing process is complete.
It will likely provide punchy numbers and exciting headlines. But, the real focus on conventional oil will sharpen through the first half of 2017 as third party wells are drilled nearby.
Wall says the nearest of two exploration wells planned for 2017 will be just a few miles from the northern boundary of the Icewine acreage.
Alaska’s North Slope has delivered some big conventional oil discoveries in recent years, but success in these two will mean most to 88 Energy’s Icewine acreage.
Significantly, the new wells to the north are targeting the same horizons as 88 Energy is seeing in the seismic.
Wall noted the importance of the current desktop work, ahead of the nearby drilling.
“We need to assess the conventional potential, particularly because there’s going to be drilling into those horizons just to the north of us in the first half of next year,” he said.
“If we didn’t understand what we had prior to that drilling then if there is some success up there we wouldn’t really be able to quantify the look through to us. So now [as a result of the seismic] we will be in a position to do that.”
Wall highlights that the surge in exploration success on Alaska’s North Slope has been aided by improvements to technology, specifically the advances in seismic exploration that have allowed prospectors such as 88 Energy to look beneath the thick permafrost.
These techniques have helped Repsol and Armstrong Oil and Gas discover some 1.4bn barrels of crude around 30 miles north-west of the Project Icewine territory (which itself spans some 420 square miles, or 217,000 acres).
More recently, just a matter of weeks ago, privately owned Caelus Energy announced the North Slope’s newest discovery with some 2.5bn barrels of recoverable crude estimated – it is about 60 miles north west of Icewine.
“There’s a lot more oil to be discovered on the North Slope, we’re seeing that happening and hopefully we’ll be next,” Wall added.

Quarterly activities report

31 October 2016 88 ENERGY LIMITED

QUARTERLY REPORT
Report on Activities for the Quarter ended 30 September 2016



http://www.moneyam.com/action/news/showArticle?id=5440158

Nice stream of blue. Good buying opportunity .

Proactive investor -


88 Energy could double on appraisal drilling success, research report says
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08:16 11 Nov 2016
Success with the next well can put 88 Energy in a strong position, EverBlu Research says.

88 Energy is in a strong position, the analyst said.
Upcoming work programmes at 88 Energy Ltd’s (LON:88E, ASX:88E) shale venture in Alaska can draw the attentions of ‘all the oil majors’, according to a report by Sydney based EverBlu research.
Analyst Gavin Van Der Wath, who says 88 Energy is a ‘buy’, reckons the upcoming drilling at project Icewine can double the explorer’s share price.
A successful appraisal well to confirm the shale project’s viability would give the company a value in the range of US$150mln and US$380mln (while upside scenarios approach US$1bn).
It can put 88 Energy in a strong position, according to the analyst.
“We believe that a successful appraisal well, the potential resource size and subsequent scope of commercial development would attract the attention of all the oil majors, placing 88E in a strong negotiating position and allowing the company its pick of partners, should it so choose.”
Summing up the 88 Energy opportunity, van der Wath highlighted: “The company’s primary objective is to assess a new unconventional play with gross mean unrisked recoverable hydrocarbon liquids of 2.6Bbbl.
“An equivalent conventional target of 758MMbbl has also been identified. Compelling prospectivity, confirmed by the project’s maiden well, prompted the decision to drill an appraisal well. Planning and permitting is well advanced and should spud within the next 6 months.
“A successful outcome could see the share doubling to AUD 0.08 per share.”

Everblu- initiation of coverage on 88E - Buy

Operational Update
PRN
2 December 2016
88 Energy Limited
Operational Update
88 Energy Limited (88 Energy, the Company, Operator) (ASX, AIM: 88E) is pleased to announce the following operational update in relation to Project Icewine, located on the North Slope of Alaska (77.5% Working Interest, Operator).
Icewine#2 Progress
Permitting
Permitting remains on track for completion well ahead of the scheduled spud date for Icewine#2 in late Q1 2017. Two of the major permits, the Plan of Operations and Oil Discharge Prevention and Contingency Plan, have just passed major milestones in the permitting process with no problems identified.
Vendor Selection
With the design of the well, logging program and stimulation design now largely finalised, 88 Energy anticipates conclusion of key vendor contracts over the coming weeks, including rig selection. Availability of equipment for the planned design and schedule has been ascertained and no issues are expected on this front.
2D Seismic Update
Processing
Final processing of the Icewine 2D vibroseis data acquired by 88 Energy during the first half of 2016 across the Project Icewine acreage was successfully completed in November.  
Conventional Prospectivity Review
The range of preliminary leads identified in the Brookian and Beaufortian sequences, along with additional mapped leads have been matured and now form the basis of a diverse conventional Prospect and Lead inventory across the Project Icewine acreage.
The majority of leads identified are stratigraphic: typically comprising slope apron, basin floor fan systems and turbidites. These leads are within proven play fairways with successful analogues on the North Slope.  
A number of leads are associated with enhanced seismic amplitudes which is considered promising as it can indicate the presence of hydrocarbons. To further evaluate the enhanced amplitudes, an amplitude versus offset (AVO) analysis was undertaken -  this work is ongoing and the initial results are encouraging.
AVO response associated with Leads and Prospects is a useful tool as it can be used to rank and de-risk exploration targets. An image of AVO support with mapped lead is available on the pdf version of this announcement which is available from the Companys website.
The forward plan is to fully mature the conventional Prospect and Lead portfolio and highgrade potential candidates for future exploration drilling. This will include finalisation of the volumetric estimation of the prospective resource potential, prior to year end.
Managing Director of 88 Energy Limited, Dave Wall commented: Operational activity associated with the near term spud of Icewine#2 is ramping up and the Company is on the cusp of testing the flow potential of the HRZ resource play. Our large acreage position and the quality of the rock means that the potential resource prize is enormous and success would be truly transformational.
Additionally, the conventional portfolio continues to firm up, exceeding our expectations.
We look forward to providing additional news on both fronts in the near future.
Media and Investor Relations

All good in the RNS, reasonable volume each day and the sp goes......down!

Up a couple of percent one day then down, Seems as though it is being kept in a trading zone .

Bought some @ 2.095p

Plenty of buying as it has marked down from the start.

Seems to be dropping day after day. :-((

Will be getting a few more at this price or lower if poss.
Q1 2017 is the time for this one.

2.15p +0.15p

WINS have been good today and so far is absorbing the sells at 2.10p
But it looks the bottom had finally been reached yesterday/very early this morning

Clearly played yesterday.

Who did MMs?
The seller?
or any buyers?

happy with my under 2.10p buy on the 6th

MMs, no reason to fall yesterday or gain like it has today. I'm happy.

After such a long pause, finally the offer @ 2.30p has gone and now the 2.25p bid is well supported by 2 MMs

lets see if more are getting into the stock once that point was broken

Major shareholders

-- Notifier --- Holding --- Value
Jacka Resources Limited 51,004,431 £1,160,351
Mr Donald Jeffrey Smith 22,500,000 £511,875
Peninsula Investments (Wa) 14,000,000 £318,500
Westblade Pty Ltd .... 5,000,000 £113,750
Ablett Pty Ltd ....... 4,050,000 £92,138
Australian Global Capital 4,000,000 £91,000
Shebdon Investments 2,628,996 £59,810
David Wall ....... 9,979,166 £227,026
Michael Evans ..... 9,416,667 £214,229
George H. S. Staley 5,816,667 £132,329

RNS due in the morning; successful bid to increase acreage.