88 Energy Ltd (EEENF)

[Ailan]

Oil and Gas Leasing NPR-A 3135.1-6 Lease Renewal.
(a)(1) With a discovery—At any time after the fifth year of the primary term of a lease, the BLM may approve a 10-year lease renewal for a lease on which there has been a well drilled and a discovery of hydrocarbons even if the BLM has determined that the well is not capable of producing oil or gas in paying quantities. The BLM must receive the lessee's application for lease renewal no later than 60 days prior to the expiration of the primary term of the lease.

https://www.federalregister.gov/documents/2007/05/22/E7-9696/oil-and-gas-leasing-national-petroleum-reserve-alaska