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Icewine#2 flow test to resume next week, says 88 Energy

17 August 2017 09:32

88 Energy said that flow testing on Icewine#2 would recommence in the week beginning 21 August following a six-week shut-in.

88 Energy said that the project Icewine joint venture was awarded 109,817 gross acres on 7 July as part of a broader package of successful bids submitted in the December 2016 North Slope lease sale.

Of these 109,817 gross acres, 76,996 gross acres (48,864 net to 88E) were recently taken up and paid for.

It added: "Given the ongoing testing of Icewine#2, a decision was made to accept award on acreage where the coincidence of prospectivity for both the conventional and unconventional was greatest.

"An additional ~256,000 gross acres is subject to award, expected later this year."

At 9:32am: (LON:88E) 88 Energy Ltd share price was +0.28p at 2.05p

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