As of 28 September 2018, 88 Energy Ltd. Subsidiary Accumulate Energy has entered in an agreement to acquire a 69.1% working interest in 23 Great Bear Petroleum oil & gas leases on the North Slope adjacent to the companyâs Icewine Project. According to a company press release âConsideration for the leases was a cash payment of USD 206,388 (net to 88E), of which USD 167,663 will be directed to lease rentals due by 1st October 2018.â  In addition, the company signed an oil & gas lease with the Arctic Slope Regional Corporation (ASRC) in five blocks located to the west of the Icewine Project.  The two acquisitions increase 88 Energyâs lease position by 45,239 net acres to 371,478 net acres across the Companyâs three main project areas on the Central North Slope of Alaska.
88 Energy entered into an agreement with Great Bear Petr.(->20,1%, Borealis Alaska 10,8%) to acquire a 69,1% WI in 17 North Slope ADLs, adjacent to, and north of, the Central Play Fairway at Project Icewine.