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88 Energy says Icewine-2 flow testing will start next week

Investors eagerly await results from 88 Energy's Icewine well, where flow testing is due to kick off next week
onshore drilling operation
The HRZ zone is host to a big resource, but can it flow?

88 Energy Ltd (LON:88E,ASX:88E) has told investors that flow testing operations on the Icewine-2 appraisal well are due to start in Alaska next week.

The company noted that this schedule represents a one week delay, caused by fine tuning of the testing procedure.

It also said that additional technical analysis is ongoing and will be communicated to investors when complete.

READ: Squeaky-bum time for 88 Energy investors as Icewine-2 hiatus draws to a close

The Icewine-2 appraisal well was designed to confirm the geological findings of the first hole, which had confirmed the presence of hydrocarbon bearing HRZ shale. Success with the Icewine-1 well provided the basis of some big and potentially valuable resources.

READ: 88 Energy to restart testing of key Alaska well next week

That first well had laid out a whole new US shale play and, buoyed by this success, 88 Energy moved quickly to significantly expand its footprint in the surrounding area.

Flow testing results will prove pivotal for 88 Energy’s plans to develop the HRZ shale.

In late afternoon trading, 88 Energy shares were 3.9%, or 0.08p higher at 2.02p.

 -- Adds share price --

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88 Energy Ltd Timeline

Newswire
December 07 2017

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