please note readers should be aware that not all statements may be factual or correct, please verify and research independently where possible.
06/07/23
Leases relinquished per notice.
+ See ANWR Page for page for additional research
AEDC 2012 RESOURCE
Extraction
10-Year Project ProjectionReport 2012
YUKON GOLD, EASTERN NORTH SLOPE
This data is extrapolated from public and industry sources, not necessarily from the operator.
Operator: Savant Alaska
Location: About 50 miles east of Prudhoe Bay. Two leases along Staines River on western boundary of ANWR
1002 area; a third lease is adjacent to northern of 2 leases along river.
Status: Like the Sourdough wells to the north drilled by BP along the edge of the 1002 area (in former Point
Thomson unit), BP’s 1994-96 Yukon Gold No. 1 is on the state’s extended confidentiality list.
Water depth: Onshore
Noteworthy: Similar to Sourdough, Yukon Gold is not likely to be developed until a pipeline is built to nearby
Point Thomson because Yukon Gold’s reserves are not large enough to justify a pipeline connecting it to Badami,
the farthest east producing field on the North Slope. Point Thomson output will flow to the Badami field 20 miles
away, bringing infrastructure within 10-15 miles of Yukon Gold. Once the lines reach Sourdough or Yukon Gold,
they are on the doorstep of ANWR’s 1002 area, set aside by Congress for its oil and gas potential.
Recoverable reserves: 120 million barrels of oil per State of Alaska.
Cost estimated for development sans production facilities: $450 million
Approximately cost per well: $10 million
If project sanctioned, development drilling and construction expected to begin: TBD
First oil expected: TBD
Peak production expected: 10,000 BOPD
Drill site: When a BP engineering feasibility study indicated an insulated ice pad in March 1993 at Yukon Gold No.
1 well, which would significantly extend winter drilling season, BP built 390-by-280-foot ice pad covered with 600
wind-resistant insulating panels. Summer visits confirmed ice beneath panels remained sufficiently frozen. When
panels were disassembled in October 1993, they had not bonded to resting surface, or scattered; nearly 90
percent were in excellent condition and reusable. BP began drilling in November, two months ahead of
conventional Arctic practice. BP had time to drill nearby Sourdough No. 2, where insulated panels were placed
under drilling rig to give BP option of leaving rig on location over summer and avoiding remobilization if well
wasn’t completed. Proved to be unnecessary since the Sourdough well was completed during same season. BP
netted cost savings of more than $2.3 million from the two single-season well completions, according to the
Department of Energy. In addition, tundra endured significantly less impact than would have been the case had BP’s
crews been required to move equipment back and forth between two drilling seasons. The DOE also reported
that subsequent site monitoring showed no long-term environmental impacts from use of insulated ice pads.
Wells drilled in past by other operators: 1993 BP’s Yukon Gold No. 1
Wells drilled to date by operator: None
Next well: TBD
Geologic targets: Thomson sands, Brookian. Some geologists suspect Yukon Gold’s reservoir extends east
under Staines River into ANWR’s 1002 area. If Yukon Gold develops, wells on state lands might cause oil and gas
fluids to migrate across border. Per federal law, backed by court decisions, if they don’t hold lease sale for their
side of reservoir, the U.S. government wouldn’t be able to claim revenue from federal oil drained from Yukon
Gold’s state leases. Per 1998 assessment, the 1002’s northwest corner holds some 10.4 billion barrels of oil.
Jobs expected during development drilling and pipeline construction: 300-400
https://aedcweb.com/wp-content/uploads/2014/10/2012-AEDC-Resource-Extraction-Report.pdf
26/05/2022
Yukon Leases
Tract 29 ANWR relinquished - full refund of lease costs and rentals - page 11.
https://clients3.weblink.com.au/pdf/88E/02521928.pdf
https://www.alaskajournal.com/2022-06-03/oil-company-backs-out-lease-arctic-national-wildlife-refuge
30/10/2021
Jade permitting to drill Point Thompson lease January, 2021
https://dog.dnr.alaska.gov/Document/936DDE493D1146A2A700473D6266F92D/2021-10-28__JADE_1_Exploration_Program_Lease_Plan_of_Operations_Application?
20/01/2021
ANWR News (see 08/01/21)
https://www.blm.gov/press-release/leases-issued-anwr-coastal-plain-oil-gas-program
https://hotcopper.com.au/threads/news-88e-update-2-trump-administration-issues-last-minute-arctic-refuge-drilling-leases.5863142/?post_id=50294858#.YAfvqDlxdPY
08/01/2021
Operations Update
High bidder on tract 29 Coastal Plain Lease Sale
Adjacent to existing Yukon Leases and Point Thomson field
see AWNR page for additional details of BLM Sale
23/07/2020
Investor Presentation - July 2020
http://clients3.weblink.com.au/clients/_88energy/headline.aspx?headlineid=6987655
https://www.petroleumnews.com/pnads/364251439.shtml 07/02/2019
Border Dispute 12/07/2019
"If the state is awarded the land, existing state leaseholders with undeveloped oil discoveries such as Jade Energy’s Sourdough prospect and 88 Energy’s Yukon Gold, thought to hold oil pools that cross under ANWR’s current border, would gain valuable real estate - real estate they won in state lease sales and were awarded with a caveat acknowledging the boundary dispute with the feds"
http://www.petroleumnews.com/pnads/848805406.shtml
23/05/2019
http://clients3.weblink.com.au/clients/_88energy/headline.aspx?headlineid=6931527
Highlights:
Yukon Leases: discussions underway with nearby resource owners to optimise monetisation strategy
20/12/2018
http://clients3.weblink.com.au/clients/_88energy/headline.aspx?headlineid=6914619
Highlights
• Multiple high-quality parties active in conventional dataroom Deadline for bids extended due to request o Deal now targeted for 1Q 2019
• Initial HRZ review by Baker Hughes encouraging o Additional value add analysis now underway ahead of finalising farm-out package
• Yukon Leases - 3D seismic processing continues with inversion now underway
• Western Leases – Winx-1 exploration well on schedule for February 2019 spud
11/11/18
http://www.petroleumnews.com/pnads/6677188.shtml
"By constructing pipeline infrastructure at the Point Thomson unit, Exxon changed the economics of adjacent and nearby lands and waters across the eastern North Slope.
The independent 88 Energy recently commissioned the 251-square-mile Yukon Gold 3-D seismic survey over its Yukon Gold prospect south of Point Thomson. The company acquired the property in late 2017 through a lease sale, attracted in part by the results of the Yukon Gold well drilled by BP Exploration (Alaska) Inc. in 1993 and 1994. The state has estimated that the prospect contains some 120 million barrels of recoverable oil"
07/11/2018
*http://clients3.weblink.com.au/clients/_88energy/headline.aspx?headlineid=6908378
Highlights**
Yukon Leases Maiden Resource: Net Mean Prospective Oil Resource - 90 MMBO
Cascade lead upgraded to prospect - Brookian Turbidite Fan Play
Additional prospectivity mapped within Staines Tongue Topset Play
Project Icewine Net Mean Prospective Oil Resource - 2,211 MMBO
Farm-out process continues as planned, with deal targeted prior to year-end 2018
Western Blocks Net Mean Prospective Oil Resource - 144 MMBO
Stacked Brookian objectives including Nanushuk Topset Play
The Winx-1 well is on schedule to commence drilling in February 2019
88 Energy Total Conventional Net Mean Prospective Oil Resource - 2,445 MMBO
100918
New Investor Presentation includes preliminary 3D
http://clients3.weblink.com.au/clients/_88energy/headline.aspx?headlineid=6898910
18/06/2018
http://clients3.weblink.com.au/pdf/88E/01991141.pdf
Highlights
• Nitrogen lift commenced at Icewine#2
• Yukon Gold and Western Margin leases formally awarded
06/04/18
Yukon Gold
In house evaluation is ongoing in relation to the recently acquired (subject to formal award) Yukon Gold leases, which contain an historic oil discovery. The Company is pleased to advise it awarded a seismic contract to SAExploration to acquire ~96km2 of 3D seismic, predominantly over the Yukon Gold leases. The seismic data will allow for assessment of the volumetric potential of the discovery as well as to identify any additional prospectivity over the broader lease position. Acquisition commenced on the 24th March and was completed on the 1st April.
The 3D survey was fast tracked to opportunistically benefit from an available seismic crew in the latter part of the 2018 acquisition season. Final processed products are anticipated in Q4 2018
http://clients3.weblink.com.au/pdf/88E/01968718.pdf
20/02/18 http://dog.dnr.alaska.gov/Documents/Permitting/NorthSlope/MLUP/2018/20180208_MLUPNS18-001_SAE_Yukon3D.pdf
probably not commissioned by 88E but takes in all leases
https://gov.alaska.gov/newsroom/2017/12/state-approves-exxonmobils-point-thomson-expansion-plan/
http://www.petroleumnews.com/pntruncate/355566778.shtml
http://www.petroleumnews.com/pntruncate/621598313.shtml
http://www.petroleumnews.com/pntruncate/117742806.shtml
http://www.arlis.org/docs/vol2/point_thomson/1247/1247_S~1.PDF
31/01/18 Investor Presentation http://clients3.weblink.com.au/pdf/88E/01945500.pdf
Resource Extraction 10 Year Projection - Recommended Reading
http://aedcweb.com/wp-content/uploads/2015/11/2015-AEDC-Resource-Extraction-Report-sponsored-by-Northrim-Bank.pdf
page 46
"YUKON GOLD
Overview
The Yukon Gold prospect is located around 50 miles east of Prudhoe Bay. The Yukon Gold #1 well drilled by BP
in the nineties confirmed the presence of hydrocarbons in the area: there are an estimated 120 million barrels
of recoverable reserves with an expected peak production of 50,000 barrels of oil per day. Development of this
prospect is expected to cost $450 million, a figure that does not include construction of a necessary pipeline
to nearby Point Thomson. An estimated 300 to 400 jobs would be expected during the development drilling
and pipeline construction phase of this project. The prospect was acquired by Miller Energy in 2014, and no
additional plans for development or drilling have been announced.
Start Date: Unknown: Dependent on construction of pipeline to Point Thomson
Duration of Project: Unknown
Jobs: 400 expected during development drilling and pipeline construction phase
Total Project Costs:$450 million (does not include cost of pipeline to Point Thomson necessary for project
development)"
https://finfeed.com/energy/88e/88e-expands-alaskan-oil-gas-acreage/20171208/
http://clients3.weblink.com.au/pdf/88E/01931681.pdf
tract Lease acres status ownership / interest per acre
NS0734 393655 2,560.00 Accepted REGENERATE ALASKA, INC. 100.000000% $35.54
NS0735 393656 2,560.00 Accepted REGENERATE ALASKA, INC. 100.000000% $26.56
NS0737 393657 2,560.00 Accepted REGENERATE ALASKA, INC. 100.000000% $88.88
NS0743 393658 1,920.00 Accepted REGENERATE ALASKA, INC. 100.000000% $68.54
NS0744 393659 2,560.00 Accepted REGENERATE ALASKA, INC. 100.000000% $68.54
NS0745 393660 2,480.00 Accepted REGENERATE ALASKA, INC. 100.000000% $75.26
NS0746 393661 880.00 Accepted REGENERATE ALASKA, INC. 100.000000% $25.14
Regenerate License
Registered 10071877
https://www.commerce.alaska.gov/CBP/Main/Document/Corp/?r=810609&v=1062529&d=2033639
History
http://donkeloilalaska.com/south_yukon_gold.html
http://www.ogj.com/articles/print/volume-92/issue-24/in-this-issue/exploration/alaskan-north-slope-exploration-scaled-back.html
https://www.questia.com/newspaper/1P2-5616147/bp-hopes-ice-pad-aids-drilling-season
Research
https://pubs.usgs.gov/of/1998/ofr-98-0034/WL.pdf
https://pubs.usgs.gov/fs/fs-0028-01/fs-0028-01.htm
AWNR
http://www.petroleumnews.com/pntruncate/127045024.shtml
http://www.alaskajournal.com/business-and-finance/2014-10-22/state-claims-20000-acres-edge-anwr#.WjPbyzFLGuU
http://www.gasandoil.com/news/n_america/3b38b087544a39c7dad052b6e7fd8d7f
https://www.google.co.uk/amp/s/www.nytimes.com/2017/12/15/climate/arctic-drilling-anwr.amp.html added 11/11/18
http://blogs.platts.com/2017/06/26/trumps-anwe-oil-natgas-battle/ added 11/11/18
**3D Applications ** (note no evidence of acquisition having happened)
http://dog.dnr.alaska.gov/Documents/Permitting/NorthSlope/MLUP/2015/SAE-Aklaq-3DSeismicSurvey.pdf
http://dog.dnr.alaska.gov/Documents/Permitting/NorthSlope/MLUP/2014/20140214_MLUPNS_13-009_CGG_West_Canning_3D_Seismic_Survey_approval.pdf
Our Neighbours
Jade Energy
Second Plan of Development
dog.dnr.alaska.gov/Document/5CA0D070C991476C87659FB7D2A9300/3-17-2020__2nd_Pointt_Thomson_Unit_Area_F_POD_-_2020 added 21/03/2019
http://dog.dnr.alaska.gov/Documents/Units/2019/2019-04-04_PointThomson_AreaFPOD_Approved.pdf added 05/04/2019
http://www.petroleumnews.com/pnads/744593321.shtml
http://www.petroleumnews.com/pnads/231446715.shtml
http://www.petroleumnews.com/pntruncate/92561040.shtml August 2018
