88E - 88 Energy Limited

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88E - 88 Energy Limited

Postby Blue Waffle » Thu Sep 10, 2015 4:19 pm

Rig Contract Executed for Imminent Spud of Icewine
http://www.investegate.co.uk/88-energy-limited--88e-/rns/rig-contract-executed-for-imminent-spud-of-icewine/201509100756566415Y/

88 Energy Limited
RNS Number : 6415Y
88 Energy Limited
10 September 2015

88 Energy Limited ("88 Energy" "the Company") (ASX, AIM: 88E) is pleased to announce that its wholly owned subsidiary, Accumulate Energy Alaska Inc ("AEA"), has executed a rig contract with Kuukpik Drilling LLC ("Kuukpik").

Kuukpik Rig 5 will be utilised for the upcoming Icewine #1 exploration well, which is on schedule for spud in October 2015. The rig is a winterized rig with a telescopic mast rated for 400,000 pounds that is well suited for the drilling of Icewine #1.

Kuukpik Rig 5 has drilled remote exploration wells in all areas of the Alaskan Arctic, including the Barrow Gas Fields, Umiat, NPRA and an offshore ice island in the Beaufort Sea.

The Company is delighted to be working with Kuukpik, one of the most experienced rig operators on the Slope.
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"Can you help me live a little more? I expect good news."
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Re: 88E - 88 Energy Limited

Postby Iapetus » Sun Sep 20, 2015 7:36 pm

Blue,
Yep, worth a punt. Got in about 10 days ago. As ever it's a gamble but huge if it comes off!
Have you had a look at CEB. Lower risk than 88e I think but a nice short term bag or two if negs go well. Longer term it could be a very nice pocket liner indeed IMO.
AIM quite bullish just now eg. AFPO. Back to B/E there now having been about 90% down! An example of patience being rewarded. Maybe a lesson to be learned there for all of us long suffering Nevadians??!!
Good luck.
Iap
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Re: 88E - 88 Energy Limited

Postby Blue Waffle » Mon Sep 21, 2015 3:23 pm

Iap

I Made some decent money out of AFPO buying at 0.5 - 0.4p. Missed the very bottom and sold way too soon between 1.4 & 1.8, but a profit is a profit.

Glad you are at break-even - if there weren't any other opportunities, I would have kept my money there too.

You mentioned CEB on another thread, so I blame you entirely for turning my head :x, so some of the profits have gone there as well as 88E. Muchas gracias for the heads up :D

CEB has so many ticks, it broke my tickometer ;) - 7p is only a MC of £50m $money$

Like you say AIM is looking fertile ground at the moment.

Was looking for a good entry into VAST and ARS - too soon to tell if I have missed the boat on those two. Got some ACP @ 4p though.

Still hoping and dreaming of a fantastic outcome with USOP. In the meantime getting my drilling fix with 88E.

Cheers

Blue
"Can you help me live a little more? I expect good news."
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Re: 88E - 88 Energy Limited

Postby Ringtail » Mon Sep 21, 2015 7:44 pm

Good luck with CEB / 88E Blue and Iap.

I've gone with ARS and EDL from the popular Bel Twitter ones!!

USOP will still outshine them all though .... :lol: :lol:

ATB
R
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Re: 88E - 88 Energy Limited

Postby tacka » Tue Sep 22, 2015 7:04 am

Blue Waffle wrote:Iap

I Made some decent money out of AFPO buying at 0.5 - 0.4p. Missed the very bottom and sold way too soon between 1.4 & 1.8, but a profit is a profit.

Glad you are at break-even - if there weren't any other opportunities, I would have kept my money there too.

You mentioned CEB on another thread, so I blame you entirely for turning my head :x, so some of the profits have gone there as well as 88E. Muchas gracias for the heads up :D

CEB has so many ticks, it broke my tickometer ;) - 7p is only a MC of £50m $money$

Like you say AIM is looking fertile ground at the moment.

Was looking for a good entry into VAST and ARS - too soon to tell if I have missed the boat on those two. Got some ACP @ 4p though.

Still hoping and dreaming of a fantastic outcome with USOP. In the meantime getting my drilling fix with 88E.

Cheers

Blue


Well done, I got in AFPO at .45 and bailed at 1.15, all profits am hoping to increase my holding in USOP when we relist.

Thinking of taking a punt on MSMN made good money last time, company buying a producing asset of 600bpd to develop further seems a no brainer.

Fogl taken a small gamble
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Re: 88E - 88 Energy Limited

Postby Blue Waffle » Tue Sep 22, 2015 4:40 pm

tacka wrote:
Blue Waffle wrote:Iap

I Made some decent money out of AFPO buying at 0.5 - 0.4p. Missed the very bottom and sold way too soon between 1.4 & 1.8, but a profit is a profit.

Glad you are at break-even - if there weren't any other opportunities, I would have kept my money there too.

You mentioned CEB on another thread, so I blame you entirely for turning my head :x, so some of the profits have gone there as well as 88E. Muchas gracias for the heads up :D

CEB has so many ticks, it broke my tickometer ;) - 7p is only a MC of £50m $money$

Like you say AIM is looking fertile ground at the moment.

Was looking for a good entry into VAST and ARS - too soon to tell if I have missed the boat on those two. Got some ACP @ 4p though.

Still hoping and dreaming of a fantastic outcome with USOP. In the meantime getting my drilling fix with 88E.

Cheers

Blue


Well done, I got in AFPO at .45 and bailed at 1.15, all profits am hoping to increase my holding in USOP when we relist.

Thinking of taking a punt on MSMN made good money last time, company buying a producing asset of 600bpd to develop further seems a no brainer.

Fogl taken a small gamble



tacka - Funny you should mention MSMN, I noticed Investor Prime (I assume its our very own IP) started tweeting and mentioned Mosman too.

https://twitter.com/investor_prime/with_replies

I see the drop today is due to a placing to raise funds for said assets - looks like a good entry at or around 4.5p
"Can you help me live a little more? I expect good news."
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Re: 88E - 88 Energy Limited

Postby Blue Waffle » Tue Sep 22, 2015 6:24 pm

Ringtail wrote:Good luck with CEB / 88E Blue and Iap.

I've gone with ARS and EDL from the popular Bel Twitter ones!!

USOP will still outshine them all though .... :lol: :lol:

ATB
R



Ringtail - The spread is rather large on those two, if you got a good entry price, more power to ya!

All I want for Christmas is...

funding coupled with a listing on a half decent exchange. ;)

Is that too much to ask?
"Can you help me live a little more? I expect good news."
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Re: 88E - 88 Energy Limited

Postby Iapetus » Tue Sep 22, 2015 6:55 pm

Blue,
I don't think so!! Certainly hope not!
Meanwhile I think there's some shares with good promise on this thread guys. Got a nice bagger on MSMN earlier this month due to STEP deal and got back in on todays drop which was a bit daft imo but that's AIM.
Seeing as how we're passing the time of day till news here, my biggest positions for longer term are MXO & NCT. Sat in my SIPP waiting for a Mexican Blast off pre Xmas but both have solid & attractive alternative value creators on their asset list so a bit of risk management there.....I hope!
My USOP holding dwarfs all the others combined tho. The millionaire maker, stuff of dreams etc etc. It will happen, I have no doubt.
GLA
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Re: 88E - 88 Energy Limited

Postby Blue Waffle » Fri Oct 23, 2015 8:17 am

Drilling Commences at Icewine

http://www.investegate.co.uk/88-energy-ltd--88e-/prn/drilling-commences-at-icewine/20151023070000P6B58/

88 Energy Ltd
23 October 2015
Icewine #1 Drilling Commenced
88 Energy Limited (“88 Energy”, “the Company”, “Operator”) (ASX, AIM: 88E) is pleased to announce that the drilling of the Icewine #1 exploration well commenced at 1745 hrs on Thursday 22nd October (AK time). This is the maiden exploration well on the Company’s Project Icewine acreage, located onshore North Slope, Alaska.
Fig 1. Kuukpik Rig Just Prior to Spud (please refer to the pdf version of this announcement available from the Company’s website)
Source: Accumulate Energy Alaska Inc
The well is planned to a Total Depth of 11,600 feet and is scheduled to take 30 days of drilling to complete. The primary objective of the well is the HRZ shale formation targetting a huge unconventional resource prize.
Upon completion of drilling, certain data will be available immediately; however, the definitive testing of the HRZ shale potential will take several months of data analysis. The pivotal focus will be an extensive evaluation of core material by specialist laboratories, which will cover a number of parameters considered critical for the success of the play.
Conventional potential may also exist in shallower (Brookian) and deeper (Kuparuk) horizons and the well has been designed such that testing of these horizons is possible, if warranted. The drilling of Icewine #1 will deliver first insight to the conventional prospectivity of 88 Energy's acreage to be matured up by the potential acquisition of 3D seismic in the near term.
Regular announcements will be made during the course of drilling, as appropriate.
Managing Director of 88 Energy Limited, Dave Wall commented: “Spud at Icewine #1 is a momentous occasion for 88 Energy and its shareholders, without whose support the well would not have been funded. Our thanks go to all the financial backers of the Company as well as the team on the ground in Alaska, who have hit the top end of the curve in relation to timing of permit submissions.
We would also to thank all of the regulatory bodies in Alaska whose collaborative approach has ensured that our tight timeline has been achieved. We hope to deliver a safe outcome that is beneifical to all stakeholders in State.
Good luck to all holders.”
Yours faithfully
Dave Wall
Managing Director
88 Energy Ltd
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"Can you help me live a little more? I expect good news."
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Re: 88E - 88 Energy Limited

Postby Ringtail » Thu Oct 29, 2015 2:08 pm

Blue Waffle wrote:
Ringtail wrote:Good luck with CEB / 88E Blue and Iap.

I've gone with ARS and EDL from the popular Bel Twitter ones!!

USOP will still outshine them all though .... :lol: :lol:

ATB
R



Ringtail - The spread is rather large on those two, if you got a good entry price, more power to ya!

All I want for Christmas is...

funding coupled with a listing on a half decent exchange. ;)

Is that too much to ask?


Just joined you today on 88E - lets see....... Something to keep me awake !

All I want for Christmas is...

funding coupled with a listing on a half decent exchange. ;)
Yup ....... we very patiently wait.

GL
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Re: 88E - 88 Energy Limited

Postby kickboxer » Mon Dec 14, 2015 11:07 pm

88E, could be a very interesting few days ahead, GLA.
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Re: 88E - 88 Energy Limited

Postby kickboxer » Tue Dec 29, 2015 7:29 pm

29 December 2015

Icewine #1 Final Drilling Update

88 Energy Limited ("88 Energy", "the Company", "Operator") (ASX, AIM: 88E) is pleased to provide the following drilling update.

Highlights
· Icewine#1 reached its planned Total Depth of 11,600' on 24th December at 0008 (AK time), having successfully achieved all of the primary unconventional objectives of the well:
o Early analysis suggests that a large portion of the HRZ shale on the Project Icewine acreage is within the thermal maturity sweetspot
o Oil shows were recorded with cut and fluorescence observed in cuttings returned to surface during the drilling of the HRZ shale
o A pronounced increase in heavy gas fractions was exhibited in both the gas chromatograph and mass spectrometer whilst drilling through the HRZ shale
o Two cores were cut in the HRZ primary shale oil objective and the underlying Pebble Shale Unit (bottom seal) with excellent recoveries (97%)
o The cores have been despatched offsite to the laboratory for Stage 1 of the programmed analysis to confirm the thermal maturity and permeability of the HRZ as well as to determine its geomechanical properties
o The core acquired in the Pebble Shale will provide valuable information on the bottom sealing potential for the HRZ shale play

· In addition to the unconventional HRZ play, a number of conventional reservoir targets were tested by the drilling of the Icewine#1 well with the following key highlights:
o Excellent reservoir was encountered over the Kuparuk sands interval from 11,262' - 11,320' with elevated gas readings over a 58 foot gross interval - a detailed petrophysical log interpretation is underway
o Preliminary log interpretation of the Kuparuk sand interval indicates porosities of up to 15% and good permeability
o The reservoir quality in this Kuparuk sand interval is substantially higher than anticipated, which is extremely positive for deeper conventional prospectivity on the Project Icewine acreage
· As reported previously, the shallow Brookian sequence intersected had excellent reservoir quality and hydrocarbon shows through out the section

Overview
Since the previous report, an additional 35' of core was cut from 11,165' to 11,200' in the Pebble Shale prior to pulling out of hole for the statutory blow out preventer test. The core acquired in the Pebble Shale marks the completion of another key objective for Icewine#1 as this will provide valuable information associated with the bottom seal for the HRZ shale play.

The well was then drilled to the planned Total Depth of 11,600'. Several gas kicks were experienced whilst drilling an interval of excellent reservoir quality between 11,262'-11,320', with porosities up to 15% and good permeability. This is outstanding for sands at this depth and substantially better than anticipated. The implications for the conventional potential at this horizon across Project Icewine have been significantly high graded as a result.

A checkshot survey was also completed subsequent to reaching Total Depth. Checkshot involves vibrating a seismic source at the surface and this seismic signal is then received by a downhole tool. The checkshot survey will assist with calibration of planned future seismic programs across the Icewine acreage.

The well continues to remain within budget.

Current Operations
Drilling operations are now complete and the rig will soon be demobilised from site.

Forward Plan
Evaluation of the core, cuttings, logs, isotubes and mud samples is now underway and we expect to be able to release details related to these analyses over the coming weeks as they become available.

Please refer to the presentation released 5th November 2015 for more details on the well, look‑forward operations and evaluation program.

Managing Director of 88 Energy Limited, Dave Wall commented: "The high recovery factor in all three cores taken, including in the primary HRZ target and across the bottom seal for the HRZ (Pebble Shale), means that we have excellent data to use in the evaluation of the potentially huge unconventional prize on the Project Icewine acreage. Whilst lab evaluation has only just commenced, early indications for the play at Project Icewine are positive, with a large portion of the acreage interpreted to be within the thermal maturity sweetspot.

Additionally, the intersection of high quality reservoir at depth in the Kuparuk sands is a major boost to the conventional potential at Project Icewine. Reservoir quality was always considered a key risk at this horizon and the recent observations from Icewine#1 have substantially mitigated this. These deeper sands complement the already prospective conventional horizons in the shallow Brookian sequence, as previously reported.

We look forward to providing more insights into the potential of both the unconventional and conventional prospectivity at Project Icewine over the coming weeks as well as updating investors on the forward program."

Fig 1. Kuukpik Rig 5 On Location (please refer to the pdf version of this announcement available from the Company's website)

Upon completion of drilling, certain data will be available immediately and will be reported to the market after internal examination; however, the definitive testing of the HRZ shale potential will take several months of data analysis. The pivotal focus will be an extensive evaluation of core material by specialist laboratories, which will cover a number of parameters considered critical for the success of the play.

Conventional potential has been identified in both the shallower (Brookian) and deeper (Kuparuk) horizons; however, early analysis indicates no closure at this location, as expected. Despite this, the excellent reservoir quality and high hydrocarbon saturation has significantly high-graded the conventional potential across the acreage. This potential will be matured up by the potential acquisition of 3D seismic in the near term. The conventional horizons encountered in Icewine #1 were not delineated by 3D seismic.
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