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88 Energy Limited - Corporate Presentation

RNS Number : 8228D
88 Energy Limited
24 February 2020
 

 

88 Energy Limited

 

Corporate Presentation

 

88 Energy Limited ("88 Energy", "the Company") (ASX, AIM: 88E) is pleased to confirm that the Company's latest corporate presentation is now available at the link below and on the 88 Energy website at www.88energy.com.

 

Further to the announcement on 12 February 2020, the presentation confirms that rig mobilisation has commenced as well as outlining the expected drilling timetable and testing program for the upcoming Charlie-1 appraisal well, on the North Slope of Alaska, details of which are set out below.

 

Drilling and Logging

·    Drilling to Total Depth (planned ~11,400'), Logging While Drilling and Wireline Logging estimated to take ~30 days

 

State of the Art Subsurface Evaluation Program

·    Utilisation of the latest proven technology

 

·    Program specifically designed to evaluate:

Formations that may have laminations resulting in low resistivity pay

Formations with low to moderate permeability

Formations with considerable bound water

 

·    Prior to advent of specialist tools, the above challenges often resulted in pay being left behind

 

Flow Testing

·    Subsurface evaluation to be followed by up to two production tests

 

·    Zones of interest and final test design to be determined by results of logging

 

·    Each test estimated to take ~14 days

 

Reporting

·    Total program estimated to take ~60 days, with reporting of results determined by materiality and continuous disclosure obligations

 

http://www.rns-pdf.londonstockexchange.com/rns/8228D_1-2020-2-23.pdf

 

Media and Investor Relations:

 

88 Energy Ltd

Dave Wall, Managing Director                                                   Tel: +61 8 9485 0990

Email: [email protected] 

 

Finlay Thomson, Investor Relations                                         Tel: +44 7976 248471

 

Hartleys Ltd

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 London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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Quick facts: 88 Energy Ltd

Price: 0.97

Market: AIM
Market Cap: £68.96 m
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Investor Update: 88 Energy completes Premier Oil farm-out in Alaska

Headlines from the Proactive UK newsroom. 88 Energy (LON:88E) has completed its farm-out with Premier Oil for its acreage in Alaska. The Alaska Department of Natural Resources has also approved the Plan of Operations for the Charlie-1 appraisal well with spudding scheduled for next...

on 27/11/19