88 Energy - Ultra High Impact Drilling Q1 2020 News out. asx.com.au 44dclgtm3bfsh8.pdf 527.35 KB Interesting point is planning underway to drill Yukon in 2021.
88 Energy - Ultra High Impact Drilling Q1 2020 Charlie-1 update out today asx.com.au 44d8plv9mlrwf6.pdf 490.85 KB .
88 Energy - Ultra High Impact Drilling Q1 2020 Next session of the Alaska State Legislator is 21st of Jan 2020 (2nd Regular Session) [link] Courts have been requested to give a verdict of the tax rebate issue by then. If that happens and its positive, then its a net 5m US$ into the bank for 88E (Rebates circa 20m US$ and yet to be paid is circa 15m US$). So thats another potential news on the horizon. Would be good to get the Final Permit to Drill and Ops update next week, then tax rebate news the week after. Keep the news flowing into February.
88 Energy - Ultra High Impact Drilling Q1 2020 Interesting article on Ice Roads from 2018. [link] To note here, 2020 is much colder, even than 2019 and much more so than 2018 for when the article above was written. With it being even colder than 2019, there should be no concerns on the Ice Road being complete in time - maybe even ahead of schedule this year ? .
88 Energy - Ultra High Impact Drilling Q1 2020 Now we know from the PMO statement that the Ice Road is under construction and all is on track for Feb spud, when is the next news from 88E going to be ? Ice Road complete ? That should be about 26th January that the Ice Road is complete or nearly complete. I would guess the next news will be when the final permit to drill is approved. That is a key event, so maybe mid January an update to say final permit approved and ice Road is 60% complete etc… ? That final permit to drill approval will likely be the catalyst for the move through 1.5p and upwards - so I intend to keep adding a few while its still cheap.
88 Energy - Ultra High Impact Drilling Q1 2020 From PMO update today [link] …Exploration portfolio materially enhanced with the capture of new acreage in the Andaman Sea (Indonesia) and on the Alaska North Slope; pipeline of near-term high value E&A wells including Malguk-1 appraisal (Alaska) and Berimbau/Maraca (Brazil)… …In November, Premier completed the farm in for a 60 per cent interest in the conventional Area A Icewine project in the Alaska North Slope. The Nordic-3 rig has been contracted to appraise the Malguk-1 discovery which Premier estimates could contain over 1 bn bbls of STOIIP. Construction of the ice road connecting the Dalton Highway to the well site commenced in December with the rig on track to arrive on location in time for a February spud. … .
88 Energy - Ultra High Impact Drilling Q1 2020 Finfeed – 6 Jan 20 Energy markets lift on US assassination of Iranian general Financial market news was fairly light on last week as many people remained on holiday and headlines were dominated by harrowing tales out of Australia’s bushfire ravaged regions along with escalating US-Iran tensions. …At the smaller end of the energy market, 88E Energy (ASX:88E) had a strong week finishing up around 20% and has now more than doubled in price since its October lows. The higher oil price has helped, as has news that upcoming drilling of the company’s Charlie-1 appraisal well at Project Icewine, on the Central North Slope, Alaska, is on track. 88 Energy announced last week that an ice road construction is about to get underway and the February-scheduled spud is proceeding as planned. Speaking of the Alaskan North slope, this is a region that increasingly looks to be coming back into favour and could be an area of interest for energy investors in 2020. In December, the US Bureau of Land Management’s Alaska State Office held its most successful annual lease sale since 2006, receiving US$11.2 million in bids for more than one million acres – a significant lift in interest from the prior year’s bids of just US$1.5 million. ASX-listed Alaska North Slope junior, XC…
88 Energy - Ultra High Impact Drilling Q1 2020 Looks like the love is coming back for the North Slope in Alaska…just at the right time…for 88E U.S. – 12 Dec 19 U.S. holds most successful Alaska oil and gas lease sale in 13 years The United States held its most successful Alaska oil and gas lease sale in more... [link] .
88 Energy - Ultra High Impact Drilling Q1 2020 Below is my first run of the valuations for Charlie-1 prospects, might be errors so i will update if so. 88-E-Note-Copy.jpg1000x1414 88-E-Pic-Copy.png800x751
88 Energy - Ultra High Impact Drilling Q1 2020 ASX release 27th December 2019 88 Energy Limited (ASX: 88E) (“88 Energy” or the “Company”) provides the following update related to the upcoming drilling of the Charlie-1 appraisal well at Project Icewine, located on the Central North Slope, Alaska. Highlights • Initial snow trail from Dalton Highway complete • Ice road construction on track to commence within days • Operational activity for Charlie-1 progressing to plan for February 2020 spud Operations Update The Nordic Rig 3 will exit the Dalton Highway approximately 20 miles south of Deadhorse before it begins its 30-mile journey on an ice road to the Charlie-1 location. Construction is complete for the initial snow trail to the first lake that will be utilised for building the ice road. Production of the ice road itself is scheduled to commence prior to the end of 2019, weather permitting. Everything is proceeding as planned ahead of the scheduled February 2020 spud date. 88 Energy Managing Director, Dave Wall commented: “It has been a successful year for the Company, having matured part of the conventional potential at Project Icewine to the point of a farm-out that makes a lot of sense for our shareholders. We are now on the cusp of drilling a potentially transformational well, Charlie-1, in the first quarter of 2020 and are looking forward to a safe and successful operation.”
88 Energy - Ultra High Impact Drilling Q1 2020 [link]
88 Energy - Ultra High Impact Drilling Q1 2020 3rd December Lessee Map now showing Premier Oil on there. [link] Although DW was talking about doing a couple of wells in 2021 and then say four in 2022 - I dont think it will happen for 88E like that. I am sure in my mind that if Charlie-1 is a success then PMO will simply buy out 88E in full, simple transaction and they get 100% of the license area moving forward - including the HRZ. Will be a lot cheaper for PMO to buy out 88E at say 2$ a barrels than wait and prove up resources and then have to compete with Oil Search and others at around 7$ a barrel in 2021/22.
88 Energy - Ultra High Impact Drilling Q1 2020 Audio recording of the 88E meeting last week courtesy of LeMajor on LSE. [link] .
88 Energy - Ultra High Impact Drilling Q1 2020 And another comment from different person attending: SeaHawk Today 23:20 Very interesting night, not to mention the fun getting to it. Big DW still has his beard although looking a lot tidier, not the hobo look any more! Quite a lot of technical detail given by Dr Staley which was useful to hear and put the drill into more perspective. Although we are going for 7 different layers some of them we are only just going to hit eg we are drilling the edge of them and some are at the lower end of expectations with regard to being commercial. The main area being targeted is going to be the just prior to hitting the hrz eg deep. That’s going to make for a very interesting drill as we work our way down to the main target and I suspect some serious ups and downs moral wise. It’s going to take some big cahonies to stick with it, but if you do and it comes in then he ha.I definitely got the impression that DW is far more focused on the conventional now than the hrz. He did say that this is the last throw of the dice with hrz, if they don’t get the technical results that they are looking for this time around that will be it for the HRZ. Getting the idea how important this drill is!If we get the right result from this drill with commercial flow rates then 2021 there will another drill using the same hole but horizontal this time and if it all goes okay then we will be at the point of creaming the curve to sell on.An important note, do expect thousands of barrels of oil from this drill, he talked about 100 barrels a day.Is he going to raise money, yes but he stated when the SP is much higher eg after drill, do I believe him and will it happen in the next few weeks, history would say yes but I genuinely don’t know.He did state categorically that there will be no consolidation.Hope this is of use to those who could not make it. I am sure others will correct me if I got anything wrong and of course this is all my own opinion.
88 Energy - Ultra High Impact Drilling Q1 2020 Another comment from the presentation: ToffeebradsToday 23:15A Good evening. Encouraging to hear from Dave that PMO bringing some insight to the table (spotting a few nuggets in interpretation that 88e had not seen).Will be interesting to see what new comes out of the drill phase (expecting RNSs to be released every fortnight or so, and reaching the primary target of the two prospects in the Torok layer after approx 21-28 days of drilling.) time to flow test two out of the three zones before the tundra season closes. Good that we know expectations for the next year (100 barrels per day being good realistic result from the first drill, with horizontals to follow in the return 12 months later), so that people can be realistic in positive case scenarios (rather than expecting a gusher straight off the bat.)