Drilling adjacent $755M Pantheon Resource set for early March.

This morning our oil and gas exploration Investment 88 Energy (ASX: 88E) confirmed an early March drilling date for its Hickory-1 well in Alaska, USA.

88E’s drilling program will target six key reservoir targets chasing a 647 million barrel unrisked prospective resource (net to 88E), right next to $755M London-listed Pantheon Resources.

88E’s ice pad is now nearing completion, and its drill rig is expected to start moving towards its drill site in the coming weeks.

The Hickory-1 well sits immediately to the south of Pantheon’s ground.

Pantheon has been active in this region since 2019, and over that period, Pantheon’s market cap has gone from ~$60M to now sit at $1.1BN.

Interestingly, Pantheon’s drilling success comes from the same reservoir targets that are independently assessed to extend south into 88E’s ground — where the Hickory-1 well will be drilling.

We are hoping 88E makes a discovery that is on par (and we hope better) than the ones Pantheon has made to the north. This forms the basis for our Big Bet for 88E, which is as follows:

Our 88E “Big Bet”:

“88E makes a large oil discovery that is acquired by a major for over A$1BN.”