88 Energy Limited (“88 Energy”, “the Company”) (ASX, AIM: 88E) is pleased to confirm that the Company’s latest corporate presentation is now available at the link below and on the 88 Energy website at www.88energy.com.
Upcoming drilling of the Charlie-1 appraisal well at Project Icewine, located on the Central North Slope, Alaska.
· Rig contract executed for Charlie-1 appraisal well
· Operational activity for Charlie-1 progressing to plan for February 2020 spud
· Farm-out with Premier Oil Plc expected to complete shortly
88 Energy Ltd, via its 100% owned subsidiary Accumulate Energy Alaska, Inc (“Accumulate”), has executed a rig contract with Nordic-Callista Services to utilise Rig-3 for the upcoming drilling of the Charlie-1 appraisal well. 88 Energy utilised Rig-3 for the drilling of the Winx-1 well in March 2019 and was extremely pleased with its safe and efficient performance throughout the course of operations.
Significant progress has been made on the permitting front, with only two of the key permits now outstanding; the Plan of Operations and Permit to Drill, which are both in the process of being finalised and approved. Additionally, tendering and finalisation of contracts for equipment and services required for Charlie-1 are advancing as planned.
The conditions precedent related to the recent farm-out with Premier Oil Plc are being completed according to schedule, with all conditions expected to be met prior to the end of November 2019.
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