88 Energy Advances Augusta-1 Planning on Alaska’s South Prudhoe Acreage

An update from 88 Energy ( (AU:88E) ) is now available.

88 Energy has begun permitting and planning for its Augusta-1 exploration well on its South Prudhoe acreage on Alaska’s North Slope, where it holds a 100% working interest and a 16.7% royalty burden. The well, located in the North-West Lease Area, is positioned adjacent to existing oil discoveries and producing fields, targeting high-quality stacked Ivishak and Kuparuk reservoirs in one of the region’s most prolific hydrocarbon fairways.

The Augusta-1 well is designed to test prospective resources of about 64 million barrels (2U, gross unrisked) from the Ivishak and Kuparuk reservoirs, with additional Brookian potential under review to be incorporated into the final location. To maximise technical and commercial flexibility, 88 Energy plans to permit three possible drilling locations, is in negotiations with rig providers ahead of a targeted first-quarter 2027 spud, and is running an active farm-out process with multiple parties in the data room.

The most recent analyst rating on (AU:88E) stock is a Hold with a A$0.03 price target. To see the full list of analyst forecasts on 88 Energy stock, see the AU:88E Stock Forecast page.

More about 88 Energy

88 Energy Limited is an oil and gas exploration company listed on the ASX, AIM and OTC markets, with a focus on onshore hydrocarbon plays on Alaska’s North Slope. The company holds a 100% working interest in the South Prudhoe lease position, a 52,269-acre area located immediately south of the prolific Prudhoe Bay and Kuparuk River producing units, targeting stacked conventional reservoirs.

YTD Price Performance: 50.0%

Average Trading Volume: 4,763,108

Technical Sentiment Signal: Sell

Current Market Cap: A$38.19M

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