Last checked at (Sharecast News) - 88 Energy updated the market in operations for the currently-drilling Charlie-1 appraisal well, on the North Slope of Alaska on Tuesday.
The AIM-traded firm confirmed that drilling of the Charlie-1 appraisal well had now begun, as of 0600 on 2 March, Alaska time.
"The Charlie-1 well has been four years in the making for 88 Energy, beginning in 2016 when we first acquired 2D seismic over our Project Icewine acreage," said managing director Dave Wall.
"Since that time, the company has reprocessed legacy 2D seismic [in] 2017, undertaken a targeted acreage expansion and then shot modern 3D seismic [in] 2018, before farming down [in] 2019.
"A prospect of this calibre in a frontier region requires significant time and effort to come to fruition and we are optimistic that success is just around the corner."
At 1532 GMT, shares in 88 Energy were up 13.49% at 1.13p.
8 Jun 2016 13:43
Positive progress for 88 Energy at Icewine
(ShareCast News) - Exploration company 88 Energy issued an extensive update on its operations at Project Icewine on Wednesday, including its securing of additional acreage. The AIM-traded firm said processing has been completed for the official award of 172,937 acres successfully bid on in the State
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