Project Profile
Location: North Slope of Alaska, USA
Reserves: 710 million barrels of prospective mean recoverable oil (unrisked)
Area: 100,000 acres
Project Icewine is located on the prolific North Slope of Alaska there are estimates of potential oil in place. Interpretation of modern 2D seismic data acquired by 88 Energy in early 2016 has identified multiple large conventional leads in Brookian Sequence across the Project Icewine acreage. 758 million barrels of prospective mean recoverable oil (gross) have been identified .
The probability of geologic success is estimated at 41%. The \"Best of Breed\" resource concentration confirmed, highlighting excellent potential on a comparative basis to successful North American shale plays. Tangiers is the operator of the project with an 87.5% working interest in the Project and will be operator of 99,360 acres; the overall area of the project is 100,000 acres. In February 2015, Tangiers Petroleum Limited changed its name to 88 Energy Limited.
Operators:
88 Energy Limited (previously, Tangiers Petroleum Limited): Operator with 87.5% interest
Other: 2.5% interest
Contractors:
Kuukpik Drilling: Drilling contract using the Kuukpik Rig 5 for the planned mid-October spud date for the Icewine-1 exploration well
Subcontractors: