88 Energy: Unlocking potential on Alaska’s North Slope

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  • 88 Energy sees more evidence of hydrocarbons in Merlin well analysis
88 Energy Ltd -

Quick facts: 88 Energy Ltd

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The company’s stated goal is to build a successful exploration and production company that delivers material benefits to its shareholders and contributes to the development of the regions in which it works.

It operates around 320,000 net acres at Project Icewine and 195,000 net acres at Project Peregrine, both targeting oil on the world-class North Slope of Alaska.

14 Jul 2021

(LON:88E, ASX:88E, OTC:EEENF) told investors further geochemical analysis of core samples from the Merlin-1 well have again shown the presence of hydrocarbons.

Results of analysis of Phase Two of side-wall core trim analysis are expected in the next few weeks, it added. Additionally, Volatiles Analysis Service (VAS) and gas analysis results are also due.

The Phase Two analysis is designed to provide insights around source rock to give the company a better understanding of the likely quality of the oil as well as migration pathways.

Final analysis and results are slated to be complete by the end of July, with an announcement anticipated by early August.

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24 Jun 2021

() told investors that latest analysis of samples from the Merlin-1 well, drilled earlier this year on the North Slope of Alaska, “definitively demonstrates the presence of hydrocarbons”.

These latest lab tests were carried out on fluid extracts from selected core samples.

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21 Jun 2021

() has struck a deal to sell its accumulated tax credits for US$18.7mln (GBP13.5mln) and it will use the proceeds to clear debt.

The Alaska-focussed explorer said it will pay off its outstanding debt, US$16.1mln, and will retain the remaining US$2.6mln of proceeds to boost its cash holdings.

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