Please remember the following is a conspiracy theory. I have come to these thoughts based upon the following information and upon discussing them with my friends: @tonka_waterman & @The2020Father
"Instead of looking directly for oil, the companies are chasing vapor. The idea is to use an increasing understanding of thermal maturity to understanding this particular resource." @88EnergyLtd
$eeenf @88EnergyLtd
"The company acquired an 87.5 % working interest and operatorship of the onshore acreage (Icewine) and paid a US$500,000, non-refundable deposit, before raising $6.9 million in February to fund the balance. "
$eeenf
“This is a project that can attract capital in a low-oil-price environment, bc you're getting such excellent bang for your buck... spending a very small amount of $ to get access to what could be a billion barrel oil prize in a shale play is still attractive to investors"
$eeenf @88EnergyLtd
"Charlie-1.... comprises over 1 TCF est. gross mean prospective gas and assoc. condensate... commercialisation options include, but are not limited to, possible local power generation, compressed natural gas as well as potential for conversion to hydrogen"
$eeenf @88EnergyLtd
Re Yukon Leases: "The acquisition of these leases represents a logical step in the Company’s aggregation strategy for oil resources in this part of the North Slope, where existing infrastructure provides a potential pathway to commercialisation..."
$eeenf @88EnergyLtd
"...with the addition of lease AA095899 which is adjacent to the existing Yukon Leases held by Regenerate Alaska Inc anticipated to assist in advancing continuing discussions with nearby resource owners to optimise the monetisation strategy of the acreage."
Let's be real most of you have not been holding @88EnergyLtd shares for five+ years. You are new(ish) investors (myself included) so lets take a look back & see where @88EnergyLtd was coming from w/regards to the North Slope.
$eeenf
As I mentioned previously, Emerald House is just one subsidiary w/in @88EnergyLtd who operates the Merlin-1 well.
Accumulate Energy Alaska (AEA) is another subsidiary of 88E which is named the operator of Icewine 1 & 2 wells & Charlie 1 well.
A search for AEA within the Alaska Dept. of Commerce brings up multiple filings. One name mentioned quite frequently (alongside David Wall) is, Michael McFarlane.
McFarlane is listed as a Director for AEA in this 2020 Biennial report: