REG - 88 Energy Limited - Kad River 3D Survey Secured

88 EnergyAnnouncement

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RNS Number : 3892Z  88 Energy Limited  07 April 2026

7 April 2026

 

88 Energy Limited

 

KAD RIVER 3D SURVEY secured

Opening New Potential in Under‑Explored Leases

 

kad river east, NORTH SLOPE ALASKA

 

88 Energy Limited (ASX: 88E, AIM: 88E, OTC: EEENF) (88 Energy or the Company)
is pleased to announce that it has acquired access to the Kad River 3D seismic
dataset, recently released by the Alaska Department of Natural Resources, Oil
and Gas Division.

The Kad River 3D survey covers the entirety of the newly secured Kad River
East leases, comprising approximately 17,920 acres (100% working interest)
east of the Trans Alaska Pipeline System (TAPS).

Access to the 3D seismic data, in combination with historical well logs, will
enable 88 Energy to apply its technical expertise to design a data-driven
exploration programme across this highly-prospective and under-explored
region. Interpretation of the 3D dataset will support the maturation of
prospects within the Kad River East leases and enable the calculation of an
internal maiden Prospective Resource estimate, expected to be released in 2H
CY 2026.

The Kad River East acreage is considered a longer‑term exploration
opportunity that complements 88 Energy's near‑term focus at the South
Prudhoe project, which includes the planned Augusta‑1 drilling programme.
These assets collectively provide diversified exposure to multiple independent
exploration plays within a staged portfolio framework.

 

 

 

Kad River East Area Detail

A New High-Potential, Under-Explored Region

The Kad River East acreage comprises seven newly acquired leases covering
approximately 17,920 gross acres east of TAPS, acquired in the North Slope
Areawide 2025W Oil and Gas Lease Sale. The Company's technical team identified
this acreage as showing high prospectivity, as an under-explored
frontier-style opportunity, with the analysis supported by historical well
data and modern seismic interpretation which indicated the presence of a
multi‑reservoir petroleum system. Recently completed regional mapping by 88E
highlights the development of turbidite fairways analogous to the productive
Sockeye fields to the east.

Technical Indicators of Prospectivity

Initial analysis of existing 2D seismic and historical well data identified an
active, multi-reservoir petroleum system across the Kad River East acreage.
Several key wells intersect potential reservoir targets, informing the
Company's decision to secure the acreage:

·   Jacobs Ladder C and Lake Fed 79-1 (within leases): Mud logs show
fluorescence, petroleum odour, and hydrocarbon shows across Ivishak, Seabee
and Canning intervals.

·   Kadler St 15-09-11 and Toolik Fed 1 (adjacent): Oil shows recorded in
Mikkelsen, Lower Sag, USB, Kuparuk equivalent and Ivishak / Lisburne
reservoirs.

The newly acquired Kad River 3D dataset will be evaluated and integrated with
88 Energy's existing subsurface analysis during H1 CY 2026 in order to refine
structural and stratigraphic models, identify primary prospects and assess
future resource potential, with a maiden Prospective Resource estimate
expected in 2H CY 2026.

 

 

Nearby Sockeye‑2 Flow Test Unlocking the Canning Reservoir Potential

The nearby Sockeye‑2 well (refer to Figure 1 for location on eastern edge of
map) provides a compelling analogue supporting the resource potential of the
broader Kad River East area. Sockeye-2 was drilled to approximately 10,500 ft,
encountering a high‑quality Palaeocene‑aged clastic reservoir with an
average porosity of 20%.

The vertical well was completed over a single 25 ft interval at approximately
9,200 ft TVD and delivered exceptional performance during a 12‑day flow
test, averaging approximately 2,700 BOPD without stimulation or artificial
lift.

This result demonstrates the productivity of distal turbidite systems and
provides strong evidence for a laterally extensive, high‑quality reservoir
framework across this region of the North Slope.

Regionally, high‑deliverability Palaeocene reservoirs, characterised by
favourable porosity, permeability and fluid mobility, are present along the
eastern North Slope, further reinforcing the area's prospectivity.

 

A Detailed Data-Driven Approach to Enhance Exploration Success

88 Energy's experience on the North Slope reinforces its belief that modern 3D
seismic imaging and interpretation are critical to delivering exploration
success and ensuring disciplined capital allocation. 3D seismic provides an
order-of-magnitude improvement in subsurface resolution, when compared with 2D
data.

The integration of multiple 3D seismic surveys across the Company's North
Slope portfolio, combined with a refreshed and experienced, discovery-focused
technical team, represents a key competitive advantage. This approach enhances
confidence in prospect definition, ranking and maturation toward drilling.

Advanced interpretation techniques, including industry leading AI-based tools,
have enabled the Company to perform more insightful interpretation work
enabling the precise targeting of potential prospects. The capabilities 88
Energy's team possess are particularly valuable in Alaska, where subtle
stratigraphic traps and complex depositional systems require high-resolution
imaging to delineate them effectively.

88 Energy currently has access to six 3D seismic surveys across its North
Slope portfolio, forming an extensive, portfolio of data across the basin that
enables the team to integrate regional trends, legacy discoveries and newly
acquired acreage, thereby materially reducing pre-drill uncertainty.

Access to 3D data represents a significant step change in the Company's
exploration strategy and re-risks future drilling. Importantly, these datasets
have been acquired at substantially reduced cost through the State of Alaska's
seismic incentive programmes, enabling a disciplined and capital-efficient
approach to exploration.

 

 

This announcement has been authorised by the Board.

 

 Media and Investor Relations
 88 Energy Ltd

 Ashley Gilbert, Managing Director

 Tel: +61 (0)8 9485 0990

 Email: investor-relations@88energy.com

 Fivemark Partners
 Michael Vaughan                          Tel: +61 (0)422 602 720
 Euroz Hartleys Ltd
 Chelsey Kidner                           Tel: +61 (0)8 9268 2829
 Cavendish Capital Markets Limited
 Derrick Lee / Pearl Kellie               Tel: +44 (0) 131 220 6939
 Hannam & Partners
 Leif Powis / Neil Passmore               Tel: +44 (0) 207 907 8500

 

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