88 Energy: Yukon Leases Maiden Resource and Conventional Portfolio Highlights

88 Energy Limited (ASX: 88E) (“88 Energy” or the “Company”) provides the following update related to ongoing work on its conventional prospect portfolio at Project Icewine, located on the Central North Slope, Alaska.


• Yukon Leases Maiden Resource: Net Mean Prospective Oil Resource – 90 MMBOo Cascade lead upgraded to prospect – Brookian Turbidite Fan Play
o Additional prospectivity mapped within Staines Tongue Topset Play

• Project Icewine Net Mean Prospective Oil Resource – 2,211 MMBO
o Farm-out process continues as planned, with deal targeted prior to year-end 2018

• Western Blocks Net Mean Prospective Oil Resource – 144 MMBO
o Stacked Brookian objectives including Nanushuk Topset Play
o The Winx-1 well is on schedule to commence drilling in February 2019

• 88 Energy Total Conventional Net Mean Prospective Oil Resource - 2,445 MMBO

Cautionary Statement: The estimated quantities of petroleum that may be potentially recovered by the application of a future development project relate to undiscovered accumulations. These estimates have both an associated risk of discovery and a risk of development. Further exploration, appraisal and evaluation are required to determine the existence of a significant quantity of potentially movable hydrocarbons.

Yukon Leases Conventional Resource – 90 MMBO (100% 88E mean prospective resource)

The Yukon 3D seismic, acquired in 1Q2018 by the Company, has been fast track processed and mapping undertaken to assess the maiden prospective resource associated with three sand bodies identified on the leases. The largest of these is the Cascade Prospect, which contains ~92% of the preliminary mapped resource on the Yukon Leases. The Cascade prospect is interpreted to have been intersected in a downdip location by the vintage Yukon Gold-1 oil discovery well.

Yukon Gold-1 was drilled in 1993 and discovered two oil saturated sands in the Canning Formation with porosities exceeding 18%. Up until the recent (2016) commissioning of infrastructure at the nearby Point Thomson gas/condensate/oil field, an accumulation of this size would have been considered stranded. Internal modelling suggests that break-even development price is now less than US$40/bbl. Next steps will involve generation of an inversion 3D volume to further delineate and de- risk current mapping. An update is planned for 1Q 2019.

Visit source site

88 EnergyYukonYukon AcreageASXProject IcewineAlaskaUSAUnited StatesYukon Gold

More items from oilvoice

Premier Oil Trading and Operations Update

Premier has provided a Trading and Operations Update for the period to 15 November 2018. Highlights ·     Year-to-date production of 78.4 kboepd, up from 76.2 kboepd in the first half; forecast full-year production at around 80 kboepd ·    Record Catcher Area production rates of over 70 kbo ...

OilVoice Press - OilVoice

Posted 22 hours agoPress > Premier OilTrading UpdateOperations Update +1

Cairn Energy PLC - North Sea Operational Update

UK Norway Update - discovery and farm out Cairn announces the following; An oil discovery on the 9/14a-17B well and associated side-track on the Agar-Plantain Prospect in the UK North Sea Farm out agreement for a 40% non-operated interest of the Chimera prospect in the UK North Sea Commitmen ...

OilVoice Press - OilVoice

Posted 22 hours agoPress > Cairn EnergyNorwayUnited Kingdom +7

Suncor Energy Declares Dividend and Amends Normal Course Issuer Bid

Suncor Energy's Board of Directors has approved a quarterly dividend of $0.36 per share on its common shares, payable December 24, 2018 to shareholders of record at the close of business on December 3, 2018. Suncor also announced today that the Toronto Stock Exchange (TSX) accepted a notice filed ...

OilVoice Press - OilVoice

Posted 1 day agoPress > DividendSuncor Energy

Tullow Oil plc November Trading Update

Tullow Oil plc (Tullow) issues the following Trading Update for the period 26 July to 15 November 2018. Tullow will be hosting a Capital Markets Day on 29 November 2018. Please see full details below. The Group will also publish a Trading Statement and Operational Update on 16 January 2019 and Ful ...

OilVoice Press - OilVoice

Posted 1 day agoPress > Tullow OilTrading UpdateTullow +2

The Wolfcamp Play Has Been Key to Permian Basin Oil and Natural Gas Production Growth

Source: U.S. Energy Information Administration, based on DrillingInfo Increased oil and natural gas development in the Wolfcamp play has helped drive overall crude oil and natural gas production growth in the Permian Basin during the past decade. Drilling and completion operations within the ...

OilVoice Press - OilVoice

Posted 1 day agoOpinion > EIAEnergy Information Administration EIAUnited States +9
All posts from oilvoice