88 Energy – North Slope

Contact us for more details: Phone: + 44 (0) 20 7493 1977
                                                 Email:  mail@stellarlimited.com

North Slope, Alaska

Project Phoenix

Following the highly successful drilling results of the Hickory-1 well, 88 Energy Limited (“88E”) is offering companies the opportunity to acquire up to a 25% working interest in Project Phoenix, located on the North Slope, Alaska. Hickory-1 will now undergo an extensive flow test programme, optimally located near to road and pipeline infrastructure and contiguous with a developing, multi-billion barrel oil play immediately to the north.

Key Points:

  • Highly successful Hickory-1 well encountered multiple hydrocarbon pay zones, exceeding pre-well expectations
  • Fast-track infrastructure-led appraisal opportunity starting with the flow test of Hickory-1 in Q4 2023/Q1 2024
  • Accelerated development plan in the form of an Early Production Scheme (“EPS”) will expedite first production and cash flow from the asset, potentially as early as 2H 2024
  • The EPS has attractive project economics while suitably managing project risk in the event of a larger scalable development. Phoenix has vast resource potential in excess of >1,000 MMbbls providing significant running room