Project Icewine area, Central North Slope in Alaska, Premier Oil has agreed to farm in for a 60% stake for Area A in exchange for paying full costs (up to USD 23 million) for an appraisal on the 1991 Malguk-1 light oil discovery. 88 Energy will operate the well (dubbed Charlie-1) when it spuds in Q1 â20. Premier also has the option to obtain 50% in Areas B + C for USD 15 million if Charlie-1 is successful. 88 Energy (op) will retain 30%, partnered with Burgundy Xploration.
Premier Oil has agreed to farm in for a 60% stake for Area A, Project Icewine area, Central North Slope, (88 Energy (op) will retain 27,5%, partnered with Burgundy Xploration 12,5%). Premier also has the option to obtain 50% in Areas B + C for US$15 MM. 