88 Energy Limited (ASX:88E)

88 Energy Limited has announced a significant update to its Prospective Resource Estimate for the South Prudhoe Project, located on Alaska’s North Slope. This update reveals a total gross unrisked 2U Prospective Resource of 768.9 million barrels of oil and natural gas liquids, with 640.7 million barrels net to 88 Energy. This marks a 35% increase, confirming a major multi-reservoir opportunity in a region rich with infrastructure and oil potential. The analysis incorporates geophysical data from the Schrader Bluff 3D seismic velocity data and introduces a new Prospective Resource for the Brookian reservoir interval and an upgraded estimate for the Ivishak reservoir. The Augusta-1 exploration well is positioned to test significant resources across Ivishak, Kuparuk, and Brookian intervals, marking it as a priority for the company’s exploration efforts. The project’s location adjacent to established oil fields provides strategic advantages in terms of existing infrastructure and connectivity.