We initiate coverage on 88 Energy (“88E”) with a risked NAV of 14.7p/sh, offering 12x upside to the current share price. 88E is a UK (AIM:88E) and Australian listed (ASX:88E) oil and gas E&P company, with a primary focus on Alaska. It also has production in the US Permian basin and high impact exploration acreage in Namibia. Its strategic focus is early exploration and appraisal (E&A), providing outsized exposure to large scale discovery success. Its E&A assets are chosen to be high value and ea ....
