Octagon 88 Resources Inc. announced that the Manning Projects Operator (CEC North Star) has confirmed it has received the final governmental approval required to file for the drilling license of the first production well on the Elkton Erosional Edge. The drilling company and other required oil service providers are scheduling and will provide the anticipated spud date in the next few days. The construction of the Elkton Erosional well pad is currently underway.

Recent economic simulation testing has proven that primary (Cold Flow) production will be the production method used for the Elkton Erosional Edge, this is the company's game changing aspect as the operator will now carry on straight to production not needing thermal recovery thus saving exponentially on CAPEX costs and cash flow timelines. Elkton Erosional Edge: Primary recovery of oil in the Elkton Erosional Edge with 8% to 14% recovery rate with staged and scalable 5,000 bbl/d to 10,000 bbl/d projects. To be followed up with infill drilling and then subsequent pressure maintenance with an additional 8+% recovery rate for an estimated cumulative 200 million barrels.

Recoverable peak production exceeding 30,000 bbl/d. Enhanced oil recovery (EOR) exploitation targeting an additional 10% to 20% recovery rate with proven EOR technologies.