Sign up Australia
Proactive Investors - Run By Investors For Investors

88 Energy looks forward to the restart of well testing at Icewine-2

The upcoming well tests will provide a significant marker for the potential development of the HRZ shale discovery.
oil and gas operations
The test programme is due to start on June 11

88 Energy Ltd (LON:88E, AS:88E) told investors that analysis of the fracture system in the Icewine-2 well suggests there’s been no degradation during the winter shut in period.

As result, no remedial work will be needed prior to the restart of the well programme. The company added that it remains on-track to resume well testing operations next week, on June 11.

The programme at the Project Icewine-2 well seeks to test whether the HRZ shale discovery can be produced at commercially viable rates.

READ: 88 Energy primed for catalysts as well operations restart in Alaska

A week ago, the company provided similar reassurance following the analysis of new pressure readings.

Planned well operations are being designed to remove an additional 4,000 barrels of fluid from the HRZ reservoir, using nitrogen lift. The company expects this will allow hydrocarbons to flow naturally from the shale to surface.

88 Energy said it expects the process to take between ten and 14 days to complete.

View full 88E profile View Profile

88 Energy Ltd Timeline

Related Articles

picture of wind turbines
January 11 2018
The construction of more than 600 wind turbines was funded by securing US$1bn of financing during the year.
onshore oil field
September 20 2018
Eland, along with its project partner, produced almost 1mln barrels of oil from the OML 40 licence in the first six months of the year, a significant year-on-year rise
oil well
June 18 2018
A cash flow model - assuming one new IOsorb plant is added each year between 2019 and 2021 - gives a price target of 35p/share

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use