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88E 88 Energy Limited

0.27
0.035 (14.89%)
Last Updated: 14:03:41
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
88 Energy Limited LSE:88E London Ordinary Share AU00000088E2 ORD NPV (DI)
  Price Change % Change Share Price Shares Traded Last Trade
  0.035 14.89% 0.27 125,457,027 14:03:41
Bid Price Offer Price High Price Low Price Open Price
0.25 0.29 0.27 0.235 0.235
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Crude Petroleum & Natural Gs AUD 3k AUD -70.72M AUD -0.0032 0.00
Last Trade Time Trade Type Trade Size Trade Price Currency
14:28:53 O 739,963 0.269 GBX

88 Energy (88E) Latest News

88 Energy (88E) Discussions and Chat

88 Energy (88E) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
14:28:540.27739,9631,990.50O
14:28:050.27185,873499.91O
14:24:270.271,019,7212,743.05O
14:22:080.2615,62840.95O
14:14:530.273,715,4209,994.48O

88 Energy (88E) Top Chat Posts

Top Posts
Posted at 01/12/2023 08:20 by 88 Energy Daily Update
88 Energy Limited is listed in the Crude Petroleum & Natural Gs sector of the London Stock Exchange with ticker 88E. The last closing price for 88 Energy was 0.24p.
88 Energy currently has 22,118,655,043 shares in issue. The market capitalisation of 88 Energy is £0.
88 Energy has a price to earnings ratio (PE ratio) of 0.00.
This morning 88E shares opened at 0.24p
Posted at 01/12/2023 13:41 by purple11
MONSTER

xXTiPSXHEEETSXx

88e BUY HOLD ADD

1.4p
Posted at 01/12/2023 13:40 by purple11
6 Nov 2023 07:00

RNS Number : 4724S

88 Energy Limited

06 November 2023

This announcement contains inside information

6 November 2023

88 Energy Limited

Hickory-1: Confirmed Discovery

with BFF Maiden Contingent Resource Estimate

Highlights

· Maiden Independent Contingent Resource estimate completed at Project Phoenix for the Basin Floor Fan (BFF) reservoir.

· Gross Best Estimate (2C) Contingent Resource of 250 Million Barrels of Oil Equivalent (MMBOE) from the deepest reservoir encountered in Hickory-1, the BFF, comprised of;

o 136 million barrels (MMbbl)* of recoverable hydrocarbon liquids (Oil and NGL); and

o 628 billion cubic feet (BCF)* of recoverable gas.

· Independently certified Contingent Resource assessment prepared by Netherland, Sewell & Associates, Inc. (NSAI), a leading US based independent consultancy for the petroleum industry.

· Contingent Resources defined on the basis of multiple successful flow tests conducted in the BFF reservoir on adjacent acreage and clear reservoir continuity demonstrated through high quality seismic data and correlations across Hickory-1 and Icewine-1 to the neighbouring successful wells.

· Assessment carried out by NSAI confirms discovery status for the BFF reservoir prior to planned testing operations at Hickory-1.

· Key step towards the understanding of the hydrocarbon volumes in of Project Phoenix prior to Hickory-1 testing operations. If successful, these operations will allow additional contingent resources to be assigned to the shallower SMD-B and SFS reservoirs.

88 Energy Limited (ASX:88E, AIM:88E, OTC:EEENF) (88 Energy or the Company) is pleased to report a maiden, independently certified Contingent Resource estimate of 136 MMbbl of hydrocarbon liquids (gross best estimate (2C)) and 628 BCF of gas, for the BFF reservoir in Project Phoenix (~75% net working interest).

* Gross (100%) best estimate contingent resource. Natural Gas Liquids (NGL's) are converted to oil equivalent volumes on a constant ratio basis of 1:1. Gas is converted to oil equivalent volumes on a constant ratio basis of 5.5 BCF per 1 MMBoe.

Managing Director, Ashley Gilbert, commented:

"This maiden Contingent Resource is a great result for 88E and its shareholders. It represents an important milestone on the path to the possible development of Project Phoenix, even prior to flow testing operations at Hickory-1 this upcoming season.

We look forward to the upcoming planned Hickory-1 flow tests which, if successful, will enable the certification of additional contingent resources in the shallower reservoirs and move another step closer to appraising the discovery. We remain on track for Q1 2024 operations for this exciting project."

NSAI's maiden Independent Contingent Resource Report was completed after its review of an extensive data suite that included seismic data, well logs from Hickory-1 and Icewine-1 and certain data from wells in adjacent acreage including
Posted at 30/11/2023 09:48 by purple11
but are they?the flow testing at 88e may not be successful in which case the shares are worthless.
obviously if the flow testing is successful they will likely 3 or 4 bag.but there is quite alot of risk involved.

PPP has a 100% success rate so far in its workovers.
Posted at 29/11/2023 08:12 by mynameiskhan
What's the 2C resource of PPP ? Probably, that's where the main difference is.88E probably be looking to derisk over 600 mbbls of recoverable oil and additional oil from Upper SFS. Based on PANR valuation of $5-10 a barrel, this is going to worth $3 billion or so.
Posted at 29/11/2023 07:38 by nigoil
That nasty smell just doesn't seem to want to go away, I wonder why?.. LOL

88e Strong Buy!

Simples!...... :-)
Posted at 13/11/2023 17:43 by nigoil
" more jam tomorrow junk"

WE see you're still interested, hanging round like a bad smell!.. LOL

Great move by 88e, the stars are aligning! Who wouldn't be interested! Obviously lots happening behind the scenes pre flow test!

88 Energy nets bullish price target following Namibia expansion
Published: 15:59 13 Nov 2023

Cavendish analyst James McCormack has reiterated a bullish price target for 88 Energy pLtd of 1.1p against a 0.35p publication price.

It follows 88 Energy’s first foray into Namibia in a notable expansion of the oil and gas exploration and production company’s footprint.

The group signed a deal with Monitor Exploration to earn up to a 45% non-operated working interest in Petroleum Exploration Licence 93 (PEL 93), onshore Namibia.

“The attractive phased deal structure provides 88 Energy with optionality to increase its working interest following key operational milestones, limiting both risk and financial exposure,” noted McCormack.

He continued: “PEL 93 shares the same high impact, large-scale discovery potential as the North Slope of Alaska, with Monitor identifying ten independent structural closures with an aggregate prospective resource of 7.6 billion bbls in the oil case and 32.7Tcf in the gas case (both unrisked).”

The forward work programme involves the acquisition of low-impact 2D seismic to derisk the project ahead of an initial exploration well.

This is planned for as early as the second half of 2024, McCormack said.

Simples!..... :-)
Posted at 30/10/2023 07:15 by nigoil
NICE!!!!!!!!!

PROJECT PHOENIX – BFF CONTINGENT RESOURCE ESTIMATE
Today 07:00

RNS Number : 6852R
88 Energy Limited
30 October 2023

This announcement contains inside information



88 Energy Limited

PROJECT PHOENIX - BFF CONTINGENT RESOURCE ESTIMATE

Highlights

· Following Pantheon Resources Plc declaring a significant contingent resource for the Lower BFF, 88 Energy has appointed independent consultants NSAI to assess the BFF reservoir at Project Phoenix.

· The Company anticipates that NSAI will be able to complete the maiden contingent resource estimate in November 2023 for the BFF which may lead to Hickory-1 being confirmed as a discovery.

· Certification of a contingent resource for the BFF reservoir would be a significant milestone for the Company, allowing the focus of Hickory-1 testing to shift to the shallower reservoirs.

88 Energy Limited (ASX:88E, AIM:88E, OTC:EEENF) (88 Energy or the Company) is pleased to announce that it has recently engaged the independent resource certifier, Netherland, Sewell & Associates, Inc (NSAI) following Pantheon Resources Plc declaring a significant contingent resource for the Lower Basin Floor Fan.



The Basin Floor Fan (BFF) reservoir was the deepest of the multiple hydrocarbon-bearing pay zones intersected during the drilling and logging of the Hickory-1 exploration well. NSAI will assess the BFF reservoir at Project Phoenix for a maiden contingent resource estimate based on Hickory-1 results and nearby offset well results, which may lead to the Hickory-1 being confirmed as a discovery.



Figure 1 shows the globally recognised resource classification framework published by the Society of Petroleum Engineers and known as the Petroleum Resources Management System (PRMS 2018). The maturation of a project from exploration to development and finally production requires the project to also upgrade its resource classification from Prospective Resources to Contingent Resources and finally to Reserves. It is the Company's strong intention to make this progression for as many reservoirs as possible, with the first milestone expected to be achieved imminently for the BFF, followed by flow testing of multiple reservoirs at the Hickory-1 location. If successful, this data will then be integrated into a subsequent Resource Assessment later in 2024 with the intention of obtaining the Contingent Resource classification for all tested reservoirs.

from Prospective Resources to Contingent Resources and finally to Reserves. It is the Company's strong intention to make this progression for as many reservoirs as possible, with the first milestone expected to be achieved imminently for the BFF, followed by flow testing of multiple reservoirs at the Hickory-1 location. If successful, this data will then be integrated into a subsequent Resource Assessment later in 2024 with the intention of obtaining the Contingent Resource classification for all tested reservoirs.



To assist in this matter NSAI has commenced reviewing and integrating existing data of all reservoirs, specifically:



· Existing Prospective Resource Assessment carried out independently by Lee Keeling and Associates in 2022, prior to drilling of Hickory-1;

· Hickory-1 drilling and logging results;

· Any relevant data beyond 88 Energy's acreage, such as results from wells in the adjacent acreage that could be considered analogous to Project Phoenix;

· 88 Energy and publicly available seismic data



A particular focus for both the Company and NSAI has been to assess all available data from the BFF reservoir. Based on initial assessment, it has been concluded that a Contingent Resource classification is likely to be certified by NSAI imminently, ahead of flow testing at Hickory-1, based on the following:



· Two successful flow tests achieved from two attempts in the adjacent acreage at Talitha-A and Theta West-1;

· High quality seismic data demonstrates BFF reservoir continuity from both Talitha-A and Theta West-1 to Hickory-1 and extension south to Icewine-1;

· Log data and petrophysical interpretations are similar across all four wells.



Contingent Resource estimates for the Shelf-Margin Delta (SMD-B) and Slope Fan System (SFS) reservoirs are targeted to be obtained post the successful flow testing of these shallower zones at Hickory-1, due to the quantum of data available at this time. It is important to note however, the SMD-B has one successful flow test that was recently achieved at Alkaid-2 and the SFS has achieved three successful flow tests to date (Alkaid-1, Talitha-A and Alkaid-2).

Simples!...... :-)
Posted at 05/2/2023 13:06 by pro_s2009
Comment from OilManJim on 88E and PANR



...................

Catching up on recent news, 88 Energy (88E) announced its placing. Up to £8.1 million at a price per share of 0.55p to fund the drilling of Hickory-1 in early March. The well is said to have been significantly de-risked by recent Pantheon Resources (PANR) drilling and flow tests, interpretation of the Icewine-1 well logs and modern Franklin Bluffs 3D seismic data and associated AVO analysis.

PANR also issued news, aiming to make a case that its operations potentially are commercial. It is critical now for the company to get its share price up, otherwise it faces having to repay convertible bond holders in cash (which it does not have), or accepting an effective death spiral in its share price, the strength of which will also determine whether or not it will be able to raise further meaningful finance.

88E has been covered three times in the Private Blog as a company of interest: first, at around the 0.7p placing level to finance the Charlie-1 well (the share price subsequently reached a high of 1.48p prior to the spud); second, at around the 0.33p placing level to finance the Merlin-1 well (the share price subsequently reached a high of 4.7p prior to the well result); third, at around the 1.49p placing level to finance the Merlin-2 well (the share price subsequently reached a high of 2.817p prior to the spud).

I have no great faith in the actual viability of any of 88E’s projects; it’s just one that’s invariably been good for a pre-spud share price run. This time, though, it’s left little time between funding and spudding............
Posted at 16/7/2022 08:36 by saint in exile
If 88e runs true to form any positive drilling results from Panr will ironically do more for the 88e share price than Panrs...short term at least
Posted at 01/3/2022 20:35 by pro_s2009
So currently 88E share price is 2.5p in Australia and 2.6p in USA.
88 Energy share price data is direct from the London Stock Exchange

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