88 Energy Limited (ASX, AIM: 88E) provide an update on Project Icewine, located onshore North Slope of Alaska.
The Icewine#2 well was shut-in on 10th July to allow for imbibition and pressure build up to occur within the HRZ shale. Flow testing re-commenced on 31st August and was suspended on 18th September2017.
Re-initiate the flow testing, utilising artificial lift, in April/May 2018 when weather conditions are more favourable.
- Shut-in on 18 September (AK Time) ahead of supension for 2017/18 winter season.
- Continued gas flow of ~2mcf/d with a trend to increasing heavy components since last update
- Forward plan to install narrower tubing and execute artificial lift in April/May 2018 to remove frac fluid.
Dave Wall, managing director, commented:
“Whilst it is frustrating to have to wait over the Winter season for the continued flow test of the HRZ, there are several encouraging signs observed from this most recent phase of testing.
“Given the early stage nature of our appraisal program, we need to have patience and remain open minded as there is no benchmark against which to track the progress of this particular unconventional play.”
