88 Energy (AIM:88E), the Alaska North Slope-focused oil and gas explorer, said its South Prudhoe Project's total gross unrisked 2U Prospective Resource has been revised up ~35% to 768.9 MMbbls.
The company reported the project is now 640.7 MMbbls net to 88E, split broadly between a North‑West Hub (301.3 MMbbls gross, 251.1 MMbbls net) and a South‑East Hub (467.6 MMbbls gross, 389.7 MMbbls net).
The update includes a maiden Brookian estimate of 181.5 MMbbls gross (151.2 MMbbls net) for shallow West Sak and Upper Schrader Bluff targets and an upgraded Ivishak 2U of 69.9 MMbbls gross (58.2 MMbbls net).
"This is exactly the type of opportunity that sits at the centre of our sharpened Alaska North Slope strategy, and we look forward to advancing Augusta‑1 as a potentially transformational near‑term catalyst for shareholders," said Ashley Gilbert, Managing Director.
The planned Augusta‑1 exploration well is now sized to test up to 133.7 MMbbls gross unrisked 2U (111.4 MMbbls net) across Ivishak, Kuparuk and USB targets.
Operationally, the company has secured the Nordic Rig‑3, advanced long‑lead procurement, permitting and logistics, and continues a farmout‑led funding strategy supported by its existing cash.
Augusta‑1 is being planned for the CY2027 Alaskan winter drilling season.
