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

88 EnergyAnnouncement

11/03/2024 07:00

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RNS Number : 2523G  88 Energy Limited  11 March 2024

 

       11 March 2024

88 Energy Limited

Hickory-1 Flow Test Operations Commenced

 

Highlights

·  Well operations underway ahead of perforating and flow testing the USFS
zone at the Hickory-1 discovery well.

·   Two flow tests are scheduled, one each in the Upper SFS and SMD-B
reservoirs, with each frac and flowback operation expected to take
approximately ten days.

·   88 Energy has strengthened its technical advisory team to include
additional engineering expertise, as well as experienced members of the
Pantheon Resources team being available to share their relevant recent and
extensive knowledge.

·   Results from the Upper SFS reservoir will be available on completion of
flow back activities.

 

88 Energy Limited (ASX:88E, AIM:88E, OTC:EEENF) (88 Energy or the Company) is
pleased to report that well operations have commenced at the Hickory-1 well,
with well bore preparations complete and perforation of the Upper SFS zone to
begin ahead of fracking and flow testing. The Hickory-1 well is located within
88 Energy's Project Phoenix acreage, directly adjacent to the Trans-Alaska
Pipeline System and the Dalton Highway.

The Upper SFS will be the first zone tested followed by the SMD-B zone. Each
zone will be independently isolated, stimulated and flowed to surface using
nitrogen lift to assist in the efficient clean-up of the well. The entire
program for each zone is expected to take approximately ten days, however 88
Energy may choose to adjust the schedule during the flow back program to
ensure optimal data collection.

An extensive suite of data will to be captured, including but not limited to
downhole and surface fluid samples, downhole pressure and temperature data,
surface pressure and temperature data. Flow rates of oil, gas and water will
also be recorded.

 

Upon completion of testing the Upper SFS reservoir, operations will then move
to evaluating the SMD-B reservoir.

 

Experienced members of the Pantheon Resources staff are being made available
to share their relevant recent and extensive knowledge of multiple flow tests
on adjacent acreage. We expect these will be valuable insights during flow
back operations. 88 Energy has also strengthened its own internal technical
advisory team with additional engineering expertise.

 

The entire testing program is scheduled for completion during March 2024.

 

The Company looks forward to providing an update on completion of 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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