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.

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http://88energy.com/

Operations Update
88 Energy Limited ("88 Energy" or the "Company", ASX:88E, AIM 88E) is pleased to advise the following in relation to its oil and gas operations on the North Slope of Alaska.

Highlights
· All major permits (excluding Permit to Drill) granted for the drilling of the Winx-1 exploration well

· Permit to Drill on schedule for submission prior to year-end, approval expected January 2019

· Preparations for ice road and pad construction underway, build start planned January 2019

· Spud of Winx-1 exploration well targeting multiple objectives on schedule for February 2019

Winx-1 Exploration Well, Western Blocks (88E earning 36%)

88 Energy, in its capacity as Drilling Manager, has now received approval for all the major permits required for the drilling of the Winx-1 exploration well, except for the 'Permit to Drill'. As planned the Permit to Drill is due for submission prior to the end of the year and approval is expected in January, prior to spud in February 2019.

StockMarketWire.com
88 Energy said preparations to spud the Winx-1 exploration well in mid-late February spud were proceeding to plan.

Construction of the ice road to the Winx-1 exploration well location commenced on the 2 January, as planned, the company said. It would take approximately three weeks to complete, ahead of construction of the ice pad, on which the Nordic Rig#3 would be located for the drilling of Winx-1.

Winx-1 would target gross best estimate prospective resource of 400m barrels of oil, 144m barrels net to 88 Energy, across multiple stacked objectives, including the Nanushuk, which was the primary target of the well, the company added.

'Winx-1 aims to further extend the Nanushuk play fairway, only 4 miles east of the recently successful Horseshoe well where similar seismic amplitude response was observed,' said Dave Wall, Managing Director of 88 Energy.

Operations Update - Permit to Drill Approved
88 Energy Limited ("88 Energy" or the "Company", ASX:88E, AIM 88E) is pleased to advise the following in relation to its oil and gas operations on the North Slope of Alaska.

Highlights
· Permit to Drill Approved for Winx-1 exploration well

· Ice road construction progressing well

o Rig mobilisation planned for early February

· Spud remains on schedule for mid-late February 2019

Western Leases - Winx-1 Exploration Well

The Permit to Drill for the Winx-1 exploration well was approved by the Alaska Oil and Gas Conservation Commission (AOGCC) on the 16th January (AK time). This is the final major permit required for commencement of drilling.

Construction of the ~11 mile ice road to the Winx-1 exploration well location is proceeding as planned. Once complete, the ice pad will be constructed, and the rig will be mobilised for drilling. Rig mobilisation is expected to commence in early February.

Operations Update - Ice Road Construction Nears Completion
88 Energy Limited ("88 Energy" or the "Company", ASX:88E, AIM 88E) is pleased to advise the following in relation to its oil and gas operations on the North Slope of Alaska.

Highlights
· Ice road construction ~85% complete

o Ice pad build to commence shortly

· Third party rig inspection completed

· Rig mobilisation to commence in ~7 days

· Spud scheduled for mid-late February 2019

https://www.moneyam.com/action/news/showArticle?id=6287706

StockMarketWire.com
88 Energy said plans to spud its Winx-1 well on Friday were on schedule.

The Nordic Rig#3 arrived on location, as planned, on the 7 February, rig up activities had proceeded smoothly and final preparations for spud were now underway, the company said.

The call to 'crew-up' was made at 0530 14 February, which usually indicates spud would occur within 24 hours.

Winx-1 would target gross best estimate prospective oil resource of 400m barrels of oil, representing a net 144m barrels to 88 Energy, across multiple stacked objectives, including the Nanushuk Formation, which was the primary target of the well.

Red Emperor Resources is also an investor in Winx-1.

StockMarketWire.com
88 Energy said it had spudded its Winx-1 well on Friday.

The well was drilled to 600' after which the company pulled out of hole to pick up the smart bottom hole assembly, with logging while drilling tools attached. At 11:45 on 17 February (AK time), Nordic Rig#3 was drilling ahead at 880', the company said.

The forward plan was to deepen the hole to about 2,500' before setting surface casing, the company added.

Winx-1 would target gross best estimate prospective oil resource of 400m barrels of oil, representing a net 144m barrels to 88 Energy, the company said last week.