Ann: Umiat Oil Field - Update, page-25

For those who actually want to do due diligence, here are the bread crumbs to follow:

History of NPR-A

https://www.blm.gov/programs/energy-and-minerals/oil-and-gas/about/alaska/NPR-A

Next - Google the following words and read the 143 page USGS report:

Tests Wells Umiat Alaska

The USGS report that you can download as a PDF discusses the wells drilled between 1946 and 1953 at Umiat.

Then, use the following URL to read about the Umiat #11 well in a report published in the late 1970s by USGS:

https://pubs.er.usgs.gov/publication/cir820

Now... ask yourself, "Self... Why wasn’t the oil at Umiat brought into production by the US Navy?" Answer: The Ghawar Oil Field in Saudi Arabia was brought online in 1951. There was no need for Umiat oil at that time. See:

https://en.wikipedia.org/wiki/Ghawar_Field

For more tidbits about Umiat, see:

www.umiat.com

No lack of humor at the Umiat website (e.g., “Walmart Coming Soon” and “Umiat Hilton”).

2001 - Arctic Falcon, LLC moves forward with plans at the Umiat Oil Field.

https://www.petroleumnews.com/pnads/377097407.shtml

2007 - Renaissance Alaska, LLC intends to drill Umiat:

https://www.petroleumnews.com/pnads/112551196.shtml

2010 - Renaissance Alaska, LLC publishes article about the Umiat Oil Field in the Oil & Gas Journal:

shorturl.at/axGN3

2011 - Linc Energy acquires Renaissance Alaska, LLC and plans to move forward with drilling at Umiat:

https://www.petroleumnews.com/pnads/963193784.shtml

2016 - Linc Energy files bankruptcy:

https://www.petroleumnews.com/pnads/116766381.shtml

Early 2020 - Malamute Energy is the successor owner of the two Umiat leases following Linc’s bankruptcy. Malamute theorizes that there is deep oil under the northern lease:

https://www.petroleumnews.com/pnads/636449355.shtml

January 12, 2021 - A Petroleum News sidebar article once again discussed the deep oil on the north side of the Umiat Mountain fault:

https://www.petroleumnews.com/pnads/636449355.shtml

Late winter 2021 88 Energy announced preliminary findings from the Merlin-1 well. Then,88 Energy buys the two Umiat Oil Field leases from Malamute.

That should give you plenty of reading to do in your spare time. If any questions emerge, happy to discuss my thoughts.

To summarize, 88 Energy is onto something potentially huge.