88 Energy Ltd has received farm-out bids for its South Prudhoe acreage in Alaska and is in commercial talks, prompting broker Cavendish to keep its buy recommendation and 19.8p target price. The broker values the Augusta-1 exploration well at 22.6p per share on an unrisked basis, highlighting its potential to unlock up to 134 million barrels of oil. Drilling is planned for early 2027, pending farm-out completion, with a preferred partner expected to be chosen by mid-Q4. This development could be transformational for 88 Energy's growth prospects.
88 Energy's recent farm-out bids and broker Cavendish's buy rating provide context for energy sector activity. For readers following the energy sector, here is Pluang's market snapshot as of Oct 08, 2026 16:21 WIB: Of 38 priced US energy stocks, 29 rose and 9 fell. Notable movers include Cenovus Energy Inc (CVE) at USD 31.11 with 100% buy order activity, Exxon Mobil Corporation (XOM) at USD 166.62 with 74% buy order activity, and Solaredge Technologies Inc (SEDG) at USD 32.61 with 75% buy order activity. The most notable figure is CVE's 100% buy order activity on Pluang.
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