Ann: Trading Halt, page-5

Especially when this was announced? Hope all ok?

21st January 2021
This announcement contains inside information
88 Energy Limited
Operations Update
88 Energy Limited ("88 Energy" or the “Company", ASX:88E, AIM 88E) is pleased to provide the
following update related to its operations on the North Slope of Alaska.
Highlights
• Mobilisation of snow road construction equipment to the Merlin-1 drill site has commenced
• Spud of Merlin-1 remains on schedule for mid-late February 2021
o Targeting independently assessed gross mean prospective resource of 645 million
barrels*
• Lease AA095899 in the recent Coastal Plain lease sale formally awarded
Peregrine Drilling Imminent – Mobilisation Underway
Permitting and planning associated with the drilling of Merlin-1 at 88 Energy’s Peregrine Project,
located in the NPR-A region of the North Slope of Alaska, remains on schedule for a mid to late
February spud. Schedule permitting, the Harrier-1 well will commence drilling once operations have
completed at Merlin-1.
Mobilisation of snow road construction equipment to the Merlin-1 location has commenced. To date
34 miles of a total ~90 miles of the snow road to Merlin-1 have been constructed.
88 Energy is carried for the first US$10m of an estimated US$12.6m total expenditure, in exchange
for a 50% working interest in the project, as part of a farm-out agreement (see announcement dated
4th December 2020).