Latest 88e News

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Half Year Report and accounts
Hartleys latest valuation included.

Hartleys maintains a ‘speculative buy’ rating on 88 Energy, saying the most likely trigger to move the share price upwards will come from developments in the company’s conventional resources. The broker has recently lifted its valuation from 2.4 cents to 2.8 cents per share.

Given that potential upside, 88 Energy should be rated as one of the more interesting small energy plays listed on the ASX – but it’s a small company operating in a foreign jurisdiction, and investors need to understand (and be comfortable) with the risks of the junior oil and gas sectorsubscript

Placement to Raise $6.75M


Investor Presentation.

Proactive Investors Interview

Premier Oil PLC has signed a Sale and Purchase Agreement with 88 Energy and Burgundy Xploration LLC to farm-in for a 60 per cent interest in Area A of their conventional Project Icewine acreage in the proven Alaska North Slope basin. This acreage lies close to the Trans-Alaska Pipeline and the Dalton Highway. The transaction provides Premier with a cost effective entry point into an emerging play, following recent advances in drilling and completion techniques, within a proven oil province and one which has the potential to deliver significant organic growth opportunities for the Group.

Exclusivity agreement executed by 88 Energy and Burgundy Xploration, LLC (together, the “JV Parties”) with preferred bidder to facilitate near term operational activity whilst final terms are agreed on the proposed farmout agreement:
o Exclusivity granted by the JV Parties until 31st August 2019, with customary exclusivity undertakings;
o US$500,000 payment (the “Exclusivity Fee”) by the preferred bidder to the JV Parties to facilitate incurring of initial agreed costs associated with the 2020 drilling program;
o Exclusivity Fee non-refundable unless the farmout agreement is not finalised owing to an act or omission of the JV Parties.

Report on Activities for the Quarter ended 30 June 2019

Effective Porosity is the pore volume in a rock that contributes to permeability in a reservoir. It is frequently studied to represent the porosity of sediment or rock available. Porosity which is not considered as effective porosity involves isolated vuggy porosity and water that is bound to clay particles. Porosity is very important when considering the suitability of sediments or rocks as aquifers or as oil or gas reservoirs
Effective Porosity leads to fluid flow in a reservoir. It does not include isolated pores and volume of pores occupied by water consumed by clay minerals and other grains. It represents the pore space which contains non-clay water and hydrocarbons. The total void space in rocks whether or not it adds to the flow of fluids is referred to as total porosity. Total porosity is typically greater than the effective porosity. Effective Porosity is measured in volume per volume, porosity units, p.u., or percent.

• Farminee internal approvals complete, including Board sign-off
• Farm-out deal now subject to: o execution of closing documents o standard conditions precedent, mainly related to transfer of working interests
• Well planning and permitting required for 2020 drilling now ramping up

condition precedent
n. 1) in a contract, an event which must take place before a party to a contract must perform or do their part. 2) in a deed to real property, an event which has to occur before the title (or other right) to the property will actually be in the name (vest) of the party receiving title. Examples: if the ship makes it to port, the buyer agrees to pay for the freight on the ship and unload it; when daughter Gracella marries she shall then have full title to the property.

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