Hickory-1 Flow Test Operations Commenced

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.

A sign in front of a building in the snow Description automatically generatedAn 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



 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
UK 100

Latest directors dealings