88 Energy Limited (“88 Energy”, “the Company”, “Operator”) (ASX, AIM: 88E) is pleased to provide an update on Project Icewine, located onshore North Slope of Alaska.
Highlights
· Permit to Drill issued for the drilling of Icewine#2
o All permits required for spud now approved
· Wellhead stacking and pressure testing underway, ahead of transport to site next week
· Major vendor selection finalised
· Spud expected week beginning 24th April
Icewine#2 Progress Update
Approval of the Permit to Drill was granted by the Alaska Oil and Gas Conservation Commission (AOGCC) on 6th April (Alaska time). All permits required to spud the Icewine#2 production test well are now complete. The wellhead and its requisite components were delivered this week to Kenai, Alaska, with stack up and pressure testing now underway. Delivery of the wellhead to site is expected next week, at which time rig up of the Arctic Fox drilling rig will commence prior to spud. Spud is scheduled for week beginning 24th April. Stimulation and production testing remains on track for June/July 2017.
Managing Director of 88 Energy Limited, Dave Wall commented:
“The Accumulate Energy Alaska team has done a great job, in conjunction with the regulatory agencies in Alaska, in ensuring that all components will be in place for spud of Icewine#2 prior to the end of April.
We look forward to bringing together the team of employees, vendors and consultants to successfully execute the well over the coming weeks.”
