Öl-Projekt 88 Energy Project in der heißen Phase
88 Energy Limited
Operations Update - Drilling of Primary Target Interval Commences
88 Energy Limited ("88 Energy" or the "Company", ASX:88E, AIM 88E) is pleased to advise the following in relation to its oil and gas operations on the North Slope of Alaska.
Highlights: Winx-1
o Drilling of interval containing primary Nanushuk targets (@~4,500') commenced 25th February (AK time): current depth ~2,640'
Western Leases - Winx-1 Exploration Well
The Winx-1 exploration well was drilled to ~2,500' on the 20th February (AK time), with surface casing run and cemented successfully. The State supervised inspection of the Blow Out Preventer system was completed on the 24th February. Drilling has now commenced in the intermediate section of the well, where the primary Nanushuk targets will be intersected.
Logging while drilling tools on the bottom hole assembly, combined with mud gas ratios and cuttings analysis, will provide initial insight into any potential hydrocarbon bearing intervals encountered during the drilling of the intermediate section. Additional data and analysis, including from wireline logging and potentially production testing will be required to provide more definitive results.
It is a pleasure to present my Chairmans Report for the 2018 financial year.
As I write, Nordic Rig#3 is on location drilling the Winx‐1 well. The well will test a conventional oil prospect, defined by 3D seismic, in the Nanushuk play fairway on the Alaskan north slope with a gross mean unrisked prospective resource of 400 million barrels. It is arguably one of the most significant wells to be drilled by an ASX listed entity in 2019 and offers substantial upside to 88E shareholders in the event of success.
As we approach the drilling of this well, it is worth reminding ourselves of why 88E chose to explore in Alaska. At the outset, 88E cast the net far and wide in search of a project that could make a meaningful difference; one which would capture investor attention with significant upside. The north slope of Alaska offers vast potential remaining to be discovered. 88E was early in recognising potential and now has the advantage of a strategic acreage position and operational capability, giving the company high leverage to success.
Our initiative to target Alaska has been validated by recent exploration successes and the entry of new entrants like Oil Search, one of Australias leading oil companies, who screened over 150 projects before settling on Alaska. Access to existing infrastructure; a very supportive and stable State Government and significant exploration upside were all cited as supporting factors these long being recognised by 88E.
Bill Armstrong, one of north Americas most successful explorers has described the source rocks of Alaska as unbelievably rich and prolific, having generated and expulsed about 1.5 trillion barrels of oil. Yet only a small fraction of that 1.5 trillion barrels has been found, leaving vast potential remaining to be discovered. Almost all the remaining fields in Alaska are stratigraphic traps rather than anticlines and require a subtler exploration approach, which 88E is pursuing as it targets reservoirs adjacent to those same source rocks.
During 2018, 88E continued to leverage its early mover advantage and is now Operator/Manager on 4 active Exploration Projects across 355,000 net acres. Unlike the lower 48 States, Alaskan leases have an attractive 7‐10‐year term with no mandatory relinquishment and a low 16.5% base royalty. Our prospective land holding is now of a size one would normally associate with the big end of town and provides scope to attract drilling partners.
Debt funding of Alaskan exploration rebates has enabled 88E to maintain leverage and reduce, to some extent, the large equity dilution normally associated with frontier exploration. The leverage from our enlarged acreage position is further enhanced due to the proximity of the all‐weather Dalton Highway and the ability to connect into the trans‐Alaska pipeline that can handle up to 2.1 million barrels per day and has considerable spare capacity.
The Alaskan program has been competently executed by our Managing Director, David Wall, with the assistance of a small dedicated team including senior geologist and Exploration Manager, Elizabeth Pattillo; petroleum engineer Hassan Fatahi; our Alaskan based Operations Manager, Erik Opstad and the full support of my fellow Directors. The confidence of the Board in their work and the support staff at 88E has been more than demonstrated in the exercise of options by Directors, which further aligns our risk with that of our shareholders.
88E has prudently raised additional capital in advance of the 2019 program. We all know the process of evaluation is not without risk; however, we look to the future with considerable optimism as we unlock both the conventional and unconventional potential of our Alaskan exploration acreage.
During the year our long‐standing Director Brent Villemarette passed away. He was a champion and was instrumental in reviving the company. I would like to acknowledge his efforts and record that he will be missed by all at 88E.
Quelle: https://www.asx.com.au/asxpdf/20190226/pdf/442ypfp8563lv0.pdf
The two companies started drilling of the interval containing the primary Nanushuk targets after completing the Winx-1 well to 2,500 feet.
The drilling will be to a total depth of 4,500 feet and currently has reached a depth of 2,640 feet.
88 Energy is the operator of the license with a 66% stake in it, while Red Emperor owns a 32% interest in the well.
Shares in 88 were 1.6% higher on Monday at a price of 1.04 pence each, with Red Emperor down 1.6% at 3.98p.
By Elena Cherubini; elenacherubini@alliancenews.com
Quelle: http://www.morningstar.co.uk/uk/news/...erval-drilling-in-alaska.aspx
Description
The securities of 88 Energy Limited (‘88E’) will be placed in trading halt at the request of 88E, pending it
releasing an announcement. Unless ASX decides otherwise, the securities will remain in trading halt until the
earlier of the commencement of normal trading on Tuesday, 5 March 2019 or when the announcement is
released to the market.
Issued by
Isabelle Andrews
Adviser, Listings Compliance (Perth)
http://clients3.weblink.com.au/pdf/88E/02082243.pdf
Es wurde an der Londoner Börse ein Kurs gesetzt und zwar um kurz vor acht bei einem Preis von 0.71. Hoffentlich bestätigt sich das nicht, würde es doch auch wieder gleichbedeutend mit negativen Drilling Results sein...!
Schaun mer mal.....
http://clients3.weblink.com.au/pdf/88E/02082581.pdf
exploration well
o Preliminary review of the interval suggests that the zone in which the shows were
encountered is at the lower end of the range required for commerciality; however, further
petrophysical analysis is necessary
• No oil shows were recorded in the shallower secondary target (Seabee turbidites)
• Forward plan is to continue drilling to test the deeper objectives
Ich kann mir vorstellen das sich sich das Blatt jederzeit wenden kann.
Ich wünsche 88 weiterhin einen spektakulären Durchbruch.
Abwarten und Geduld heißt es jetzt wohl...
"schnief"
Fakt ist erstmal, dass das Sekundärziel Seabee offensichtlich erst mal nicht viel hergibt, was sich kommerziell rechnen würde.
Das Primärziel ist die Torok-Formation, und die liegt tiefer und dahin ist der Bohrer jetzt unterwegs!
Die Primärziele sind Nanushuk 4 und 5.
Allerdings frag ich nach der Sinnhaftigkeit des TH!
1. Wird in London trotzdem gehandelt. Als Australier käme ich mir verarscht vor.
2. Wieso bringt man diese Zwischenergebnisse und wartet nicht noch 1 Woche ab?
In der Nacht kam ein Trading Halt an der ASX für 88E shares und Red Emperor shares. Grund: Pending Drilling results.
ASX hat also nicht gehandelt. Dann ging um ) Uhr unserer Zeit wie gewohnt der Handel in London los, und die Pre-Taxen zeigten eher nach unten.
Und dann kam auch das Announcement mit den Interim Drilling results.
In der Seabee-Formation wurden Hydrocarbons gefunden, aber der Wasseranteil ist scheinbar zu hoch. Eine kommerzielle Produktion rechnet sich aktuell nur an der unteren Schwelle zum Machbaren. Daraufhin schmierten die Kurse von 88E und RMP an der LSE ab.
Schlusskurs 88E: -23%
Schlusskurs RMP: -65%
Es wird nun tiefer gebohrt in die Torok-Formation und in Nanushuk 4 und 5.
Der Trading Halt wirkt in Australien und bei uns. Mal schauen ob dieser am Montag aufgehoben wird. Evtl. gibt es Montag schon das nächste Update was evtl und HOFFENTLICH mal etwas Erfreuliches bringt.....
Diesen Updates traue ich soviel, wie dem Wetterbericht auf 3 Wochen-Sicht.
Wozu machen die vorher mit modernsten Geräten Untersuchungen auf erfolg, wenn es dann doch anders deutlich schlechter kommt !?
Dann können die sich die Kosten auch sparen und einfach drauf losbohren ,- auf gut Glück.
Optionen
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Wertpapier: 88 Energy Ltd |
Welchen Grund hätte ich für solch eine Meldung?
Entweder ist die Wahrscheinlichkeit auf einen MissErfolg jetzt schon klar und ich versuche die Enttäuschung somit zu dämpfen...
Was für mich einfach keinen Sinn ergibt..
Oder das Announcement wurde schlichtweg schlecht formuliert... oder interpretiert. Drilling Results klingt einfach sehr abschließend..
Aber ich denke die Jungs werden ihren Job machen.
Ach ja und ich denke ohne die moderne Technik wäre niemals auch nur ansatzweise "einer" auf die Idee gekommen einen "Millionenbohrer" einfach nur so zu versenken.
Was in der Tiefe noch so verborgen ist... Wird hoffentlich bald nach oben sprudeln!!!
:-))
M.M.
Schönes WE!
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Wertpapier: 88 Energy Ltd |
Danach werden wohl Erweiterungsbohrungen durchgeführt. Das Ziel dieser Bohrungen ist es, die Größe der Lagerstätte genauer zu bestimmen.
Denn nicht nur die Frage, ob Öl oder Gas vorhanden sind, ist entscheidend für uns– sondern auch, in welchem Umfang die Rohstoffe vorhanden sind.
Je größer und komplexer die Lagerstätten, desto schöner wird die Kursanpassung.
Gibt es interessante Stichtage?
Angehängte Grafik:
screenshot_20190303_130635.jpg (verkleinert auf 47%)
screenshot_20190303_130635.jpg (verkleinert auf 47%)