88 Energy Limited (LON:88E, ASX:88E) has told investors that it's on schedule for the drilling of the Icewine 2 shale well in the first quarter of 2017.
Presently the company is finalising the well design and permitting is on track for completion by the end of this year.
As well as these investor assuring comments, in today’s quarterly operations update, the company also highlighted its ongoing evaluation of exploration data for the conventional oil potential in the Icewine area.
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It noted the excellent data quality, and it says the data indicates seismic geometries consistent with development of stratigraphic traps.
88 Energy also noted the recently completed A$11mln funding, through a placement of shares to two US based institutional investors.