88 Energy LimitedOperations Update – Total Depth Reached88...

88 Energy LimitedOperations Update – Total Depth Reached

88 Energy Limited ("88 Energy" or the “Company", ASX:88E, AIM 88E) advises the following inrelation to its oil and gas operations on the North Slope of Alaska.

Highlights: Winx-1
• Total Depth of 6,800’ reached on 3rd March, all pre-drill targets successfully intersected
• Multiple potential pay zones identified, including in primary target zone (Nanushuk topsets)• Wireline logging program is scheduled to commence imminently to confirm prospectivity aheadof possible production testing
Western Leases – Winx-1 Exploration WellThe Winx-1 exploration well intersected all of the pre-drill targets safely and efficiently.
Total Depth of 6,800’ was reached on the 3rd March 2019, with multiple potential pay zones identified in the Nanushuk Formation Topset Play (primary targets) and Torok Formation (secondary targets)

 A comprehensive wireline logging program is due to commence 6th March (AK time) to verify theprospectivity of the zones of interest. This program, including first pass interpretation, is expectedto take ~10 days to complete.
Based on the results of the interpretation, a decision will be madeon whether to proceed with production testing of the most prospective zone within the NanushukFormation.

88E Managing Director, Dave Wall, commented: “The operational performance by the team inAlaska during drilling has been outstanding, with a safe and efficient execution of the program.Encouragingly, we have also encountered multiple potential pay zones in the primary target as wellas one of the secondary targets. Whilst it is still early days, we are well placed and look to thewireline program with measured optimism.”