REG - 88 Energy Limited - Hickory-1 Flow Test Operations Update

88 EnergyAnnouncement

25/03/2024 07:00

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RNS Number : 0561I  88 Energy Limited  25 March 2024

 

25 March 2024

88 Energy Limited

Hickory-1 Flow Test Operations Update

 

88 Energy Limited (ASX:88E, AIM:88E, OTC:EEENF) (88 Energy or the Company) is
pleased to provide the following update on its ongoing flow testing operations
at the Hickory-1 well within its Project Phoenix acreage located on the North
Slope of Alaska:

·   Upper SFS (USFS) flow testing operations at the Hickory-1 discovery
well are nearing completion.

·   Results are to be announced once the flow back programme is completed
and results analysed, which is anticipated to be at the end of this week.

·   Activities leading up to fracking the USFS zone took longer than
initially estimated, in part due to weather conditions, however, flow back
from the USFS reservoir will conclude in the coming days following collection
of all key data and samples.

·   The flow testing programme for the shallower SMD-B reservoir is
scheduled to begin immediately after the flow back of the Upper SFS reservoir
is complete and is expected to last around 14 days. As with the USFS test, the
length of the program may be adjusted depending on operational conditions.

·   The program remains fully funded, with only marginal increases in
duration and forecast costs within budgeted contingency.

·   Completion of operations and demobilisation from site is now expected
around mid-April.

 

The Company looks forward to providing an update with results from the Upper
SFS flow test.

 

 

This announcement has been authorised by the Board.

 

Media and Investor Relations:

 

 88 Energy Ltd

 Ashley Gilbert, Managing Director

 Tel: +61 8 9485 0990

 Email:investor-relations@88energy.com

 Fivemark Partners, Investor and Media Relations

 Michael Vaughan                                  Tel: +61 422 602 720

 EurozHartleys Ltd
 Dale Bryan                                       Tel: + 61 8 9268 2829

 Cavendish Capital Markets Limited                Tel: +44 (0)20 7397 8900
 Derrick Lee                                      Tel: +44 (0)131 220 6939
 Pearl Kellie                                     Tel: +44 (0)131 220 9775

 

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