• 88 Energy secured Nordic-Calista Services Rig-3 to drill Augusta-1 exploration well at South Prudhoe on Alaska North Slope, targeting spud in Q1 2027 winter season.
• Contract locks in US$ 395,000 commitment fee, includes minimum 30 days at base operating rate; rig previously used in 2019 and 2020 campaigns.
• Augusta-1 targets stacked Ivishak and Kuparuk reservoirs; 2U gross unrisked prospective resources estimated at 64 million barrels of oil and NGLs, or 54 million barrels net.
• Project funding plan centers on farmout process started February 2026, supported by pro-forma cash balance of about A$ 10 million as of March 31, 2026.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. 88 Energy Limited published the original content used to generate this news brief on May 06, 2026, and is solely responsible for the information contained therein.