Edison Investment Research - 88 Energy (88E) Update: Alaskan exploration programme takes shape

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Edison Investment Research

Update: Alaskan exploration programme takes shape

Amid growing industry activity in Alaska, 88 Energy has announced a
clearly defined exploration programme for its core North Slope project,
Icewine. In three phases to be completed by mid-2016, the group aims to
drill two wells and undertake a significant 3D seismic survey to test the
potentially liquids-rich shale horizon, â€˜HRZâ€™. We believe the company is
able to meet the capital commitments of this programme (significantly
reduced due to Alaskan exploration rebates) from a mixture of bank debt
and proceeds from the share placing (A$12m) announced in July.

03/08/2015 8 EN

Underlying

88 Energy

88 Energy is engaged in oil and gas exploration. As of Dec 31 2016, Co. held 78.0% interest in Project Icewine located in Onshore Alaska, North Slope, Alaska, U.S.

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AU00000088E2 Australian Securities Exchange Australia

Provider

Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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