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88 Energy releases new flow test details, decisive results still awaited

88 Energy is flowing about 70 barrels of frack fluid per day from the Icewine-2 well, and the explorer believes it may now be getting contact with the targeted reservoir
onshore drilling operation
So far 88 Energy has recovered around 17.25% of the frack fluid injected into Icewine 2

88 Energy Ltd (LON:88E) has provided some initial results following the start of flow testing in the Icewine-2 well, but, as the programme continues, decisive answers are still awaited.

The company told investors that the well is presently flowing back frack fluid at a rate of 70 barrels of oil per day.

WATCH: Sound Energy buoyed by funding news while 88 Energy investors wait patiently

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

Only minor hydrocarbon indications have been observed, via formation of gas hydrates within the choke manifold, 88 Energy added.

It also told investors that the analysis of pressure data has indicated that there has been only a limited connection to hydrocarbon reservoir before the past 24 hours.

Current flowback procedure in early stage

The company highlighted: “A small pressure build-up was observed, potentially indicating the first contribution to pressure from the reservoir itself. This is the first time that this has occurred since flow testing was initiated, including the previous testing period prior to shut-in.”

88 Energy noted that the Icewine-2 well has so far yielded some 4,802 barrels of stimulation fluid, which equates to around 17.25% of what was injected into the well.

“The current flowback procedure is early stage and the significance of an implied pressure contribution from the reservoir and formation of gas hydrates cannot yet be determined,” it added.

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