88E commences 3D seismic acquisition at Project Icewine
Hey! Looks like you have stumbled on the section of our website where we have archived articles from our old business model.
In 2019 the original founding team returned to run Next Investors, we changed our business model to only write about stocks we carefully research and are invested in for the long term.
The below articles were written under our previous business model. We have kept these articles online here for your reference.
Our new mission is to build a high performing ASX micro cap investment portfolio and share our research, analysis and investment strategy with our readers.
Click Here to View Latest Articles
88 Energy Limited (ASX | AIM:88E) has provided an update on Project Icewine, located onshore North Slope of Alaska, revealing that it has commenced 3D seismic surveying across the project’s Western Margin.
The goal of the 3D seismic is to firm up drilling candidates that were earlier identified on conventional prospectivity when around 2350 line kilometres of modern and reprocessed 2D seismic data were interpreted.
The company estimated the unrisked, or conventional prospective resource potential as 1.9 billion barrels gross, or 1.05 billion barrels net to 88E, as at 31 January 2018.
The 3D survey will be acquired using the vibroseis slip-sweep method, covering an area of approximately 460 square kilometres. Acquisition parameters have been zoned to optimise fold and imaging across significant conventional leads already identified in areas that historically have imaged poorly due to permafrost and the presence of icelakes.
The main 3D acquisition effort is now underway with operations having commenced on 7 February with parameter testing designed to ensure a high quality acquisition. The survey is expected to take approximately 45 days to complete.
The focus of the acquisition is principally across the Western Play Fairway, where there’s opportunity to mature and test multiple stacked conventional objectives with one well.
The use of 3D seismic data to delineate and map similar stratigraphic/ structural conventional targets over the past four years has resulted in exceptional exploration drilling success on the North Slope.
This year, the objective of the 3D acquisition and interpretive effort is to mature the conventional portfolio and to select one or more drilling candidates for the 2019 season. The company has largely completed permitting for two potential drilling locations on a multi-year basis allowing for prompt execution of the proposed 2019 drilling programme.
88E expect to receive results in August to September 2018, which will facilitate a planned farm-out prior to the year’s end on the drilling programme.
However, it is an early stage of this company’s development and if considering this stock for your portfolio you should seek professional financial advice.
General Information Only
S3 Consortium Pty Ltd (S3, ‘we’, ‘us’, ‘our’) (CAR No. 433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information and is for informational purposes only. Any advice is general advice only. Any advice contained in this article does not constitute personal advice and S3 has not taken into consideration your personal objectives, financial situation or needs. Please seek your own independent professional advice before making any financial investment decision. Those persons acting upon information contained in this article do so entirely at their own risk.
Conflicts of Interest Notice
S3 and its associated entities may hold investments in companies featured in its articles, including through being paid in the securities of the companies we provide commentary on. We disclose the securities held in relation to a particular company that we provide commentary on. Refer to our Disclosure Policy for information on our self-imposed trading blackouts, hold conditions and de-risking (sell conditions) which seek to mitigate against any potential conflicts of interest.
Publication Notice and Disclaimer
The information contained in this article is current as at the publication date. At the time of publishing, the information contained in this article is based on sources which are available in the public domain that we consider to be reliable, and our own analysis of those sources. The views of the author may not reflect the views of the AFSL holder. Any decision by you to purchase securities in the companies featured in this article should be done so after you have sought your own independent professional advice regarding this information and made your own inquiries as to the validity of any information in this article.
Any forward-looking statements contained in this article are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results or performance of companies featured to differ materially from those expressed in the statements contained in this article. S3 cannot and does not give any assurance that the results or performance expressed or implied by any forward-looking statements contained in this article will actually occur and readers are cautioned not to put undue reliance on forward-looking statements.
This article may include references to our past investing performance. Past performance is not a reliable indicator of our future investing performance.
