88 Energy Limited - Operations Update
· Ice road now >80% complete
· Permit to Drill approved for Charlie-1 appraisal well
· Spud on track for late February
The ice road to the Charlie-1 location is now >80% complete and expected to be finished in the next two weeks. Ice pad construction is due to commence shortly and mobilisation of the Nordic Rig#3 to site should begin in approximately 10 days. Consequently, spud of Charlie-1 is anticipated in late February.
The Permit to Drill was approved on the 11th February and all permits required for drilling of Charlie-1 are now in hand.
A presentation detailing the drilling timetable and testing program will be released to the market prior to spud.
Managing Director of
Charlie-1 Ice Road Progress Map
A map detailing progress with the Charlie-1 Ice road can be viewed in the pdf version of this announcement, which is available at the link below:
About the Charlie-1 Appraisal Well
The Charlie-1 appraisal well has been designed as a step out appraisal of a well drilled in 1991 by
Cautionary Statement: The estimated quantities of petroleum that may be potentially recovered by the application of a future development project relate to undiscovered accumulations. These estimates have both an associated risk of discovery and a risk of development. Further exploration, appraisal and evaluation are required to determine the existence of a significant quantity of potentially movable hydrocarbons
A chart detailing the Charlie-1: Seven Stacked Horizons and further information on the Charlie-1 targets can be viewed in the pdf version of this announcement, which is available at the link above.
This announcement has been authorised by the Board.
Media and Investor Relations:
Email: [email protected]
Finlay Thomson, Investor Relations Tel: +44 7976 248471
Dale Bryan Tel: + 61 8 9268 2829
Cenkos Securities Tel: + 44 131 220 6939
Neil McDonald/Derrick Lee
This information is provided by RNS, the news service of the
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