Latest 88e News

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AGM Meeting Results
AGM Presentation
Ops Update

Rest in Peace in and thank you for what you gave. (See great picture of Paul at Franklin Bluffs 2015 in the AGM presentation)

It is with great sadness that the Board of 88 Energy Ltd (88E) acknowledge the passing of Paul Basinski due to unexpected complications resulting from a heart transplant operation.
Paul was the Founder and CEO of Burgundy Xploration LLC (Burgundy), 88E’s Joint Venture partner in Project Icewine. Paul was also the concept generator for the HRZ unconventional play, that 88E and Burgundy continue to pursue at Project Icewine. His contribution to the geoscience related to the HRZ play has been invaluable and he has left the Joint Venture in a strong position to advance the project to the next stage.
Paul was highly regarded in the oil and gas industry for his work in unconventional oil and gas exploration. He made a significant contribution to the industry over many years, including his role in early identification of the potential of the Eagle Ford shale, in Texas.
Our thoughts go out to Paul’s friends and family at this difficult and sad time.
Managing Director, Dave Wall, commented: “The loss that we are all feeling is impossible to put into words. Paul was a larger than life character who I am proud to say was not just a JV Partner but also a friend.
We will continue to pursue the HRZ play that Paul was instrumental in generating for us, as he would have desired.
He will be sorely missed.”

8th March 2018
88 Energy Limited
Option Proceeds and Expiry Update
88 Energy Limited (ASX: 88E) ("88 Energy" or the "Company") is pleased to announce that approximately 98% of its listed $0.02 options ("Options") were exercised by option holders in advance of the 2 March 2018 expiration date.
A total of 405m Options were exercised by option holders, resulting in proceeds amounting to $8.1m being received by the Company.
Pursuant to the Option Underwriting Agreement announced on 12 February 2018, the underwriter Hartleys Limited or its sub-underwriters, will now take up 8.7m shares in the Company comprising the Shortfall.
The high proportion of Options exercised is an outstanding result for 88 Energy and along with the existing strong cash position ensures the Company is well funded for the next important programs of work, which include: further work at the Icewine#2 appraisal well; settling the acquisition of new acres on the North Slope; 3D seismic acquisition and for other ongoing exploration and leasing costs of Project Icewine.


3D commenced on Icewine 29/03/18

Option Underwriting Agreement


Bravo Charlie Permit Approval


05/02/2018 88 Energy's David Wall presents to investors at the Oil Capital Conference


** Oil Capital Conference 1st Feb (Audio)
1st Feb Audio (sorry not best quality)


Investor Presentation

Ref. page 10

"Oil Tax Credit Payment Proposal:
Following the Legislature’s passage of HB111, ending the flawed cash credit program, Governor Walker asked the Department of Revenue to further explore options for expediting payment of outstanding oil and gas exploration tax credits.
As part of the Alaska Economic Recovery Plan, we propose to pay off the remainder of our outstanding future-obligations to independent oil and gas exploration companies at a modest discount rate in fiscal year 2019. To fund payment of these outstanding credits, the state will issue bonds. The credit holders will be paid at a discount that covers the cost of borrowing. By paying these obligations, at no additional expense to the state or burden on the treasury, we’ll put this chapter behind us and help give small operators confidence to in Alaska. (For more information, see: OMB FY2019 Budget: Tax Credit"

12/01/18 3D Permit Approval

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