88 Energy gets access to new 3D seismic dataset

7th Apr 2026 15:54

(Sharecast News) - 88 Energy announced on Tuesday that it secured access to a newly released 3D seismic dataset over its Kad River East acreage on Alaska's North Slope, marking a step forward in evaluating the exploration potential of the under-explored leases.

The AIM-traded firm said the Kad River 3D survey, released by the Alaska Department of Natural Resources, covers the entirety of the company's Kad River East holdings, which span about 17,920 acres and carry a 100% working interest.

It said the acreage lies east of the Trans Alaska Pipeline System and was acquired in the North Slope Areawide 2025W Oil and Gas Lease Sale.

The company said the dataset, combined with historical well logs, would support a data-driven exploration programme aimed at refining subsurface models, identifying prospects and assessing resource potential.

Interpretation work was expected to take place during the first half of 2026, with a maiden prospective resource estimate targeted for the second half of the year.

Initial technical analysis identified an active multi-reservoir petroleum system across the acreage, supported by hydrocarbon shows in several historical wells.

They included fluorescence, petroleum odour and oil shows across multiple formations such as Ivishak, Seabee, Canning and Kuparuk equivalents, reinforcing the area's prospectivity.

88 Energy said the acreage represented a longer-term opportunity within its portfolio, complementing near-term activity at its South Prudhoe project, including the planned Augusta-1 well.

The firm added that regional mapping indicated the presence of turbidite systems analogous to the productive Sockeye fields, with the nearby Sockeye-2 well having demonstrated strong reservoir performance, flowing at approximately 2,700 barrels of oil per day during testing.

It said access to high-resolution 3D seismic data would significantly enhance prospect definition and reduce pre-drill risk, particularly in complex geological settings such as Alaska's North Slope.

The dataset formed part of a broader portfolio of six 3D seismic surveys held by the company across the basin, supporting a more integrated and capital-efficient exploration strategy.

At 1520 BST, shares in 88 Energy were down 5.87% at 1.41p.

Reporting by Josh White for Sharecast.com.

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