Project LEONIS

10/11/2022
North Slope 2022W Leasing Update
88 Energy Limited, (via its wholly owned subsidiary, Captivate Energy Alaska, Inc) announced as
the highest bidder on 10 leases covering approximately 25,600 contiguous acres immediately south
of Prudhoe Bay on the North Slope of Alaska.
• The acreage, referred to as Project Leonis, is covered by the existing Storms 3D seismic data suite
and contains the historical exploration well Hemi Springs Unit #3 (drilled by ARCO in 1985).
• Project Leonis is superbly located adjacent to TAPS and the Dalton Highway, enhancing future
potential development commercialisation.
• A review of the Hemi Springs Unit #3 well indicated over 200 foot of logged net pay in the Upper
Schrader Bluff (USB) reservoir, with good porosity and oil shows evident over the interval.
• Initial internal interpretation of the Storms 3D indicates a prospect at the USB reservoir interval that
appears to be bound by faults on 3 sides.

https://clients3.weblink.com.au/pdf/88E/02596449.pdf