88 Energy: Report on Activities for the Quarter Ended 30 June 2018

The Directors of 88 Energy Limited (“88 Energy” or the “Company”, ASX & AIM:88E) provide the following report for the quarter ended 30 June 2018.

Highlights Project Icewine

Icewine #2 HRZ Shale Flow Test

  • Flow testing re-commenced at the Icewine #2 well, located on the North Slope of Alaska, on June 11 to determine the productivity of the unconventional HRZ shale, utilising a velocity string and artificial lift
  • During the period June 12 to June 30 flowback comprised: 1) Gaseous hydrocarbons ranging from C1 to trace C6, predominantly 90% methane, averaging 26mcf/day since June 12; 2) 1,372 barrels of fluid interpreted as 100% stimulation fluid
  • Flowback fluids are not considered representative of the reservoir fluid in situ
  • Given the low assisted flowback rate, and that in total only 24.8% ofthestimulationfluid injected has been lifted during the entire 2017/2018 flowback operation, the Joint Venture made a decision on June 30 to suspend the Icewine#2 well
  • The Joint Venture believes that the flowback data, combined with results to date from core and logs, demonstrates that the HRZ is comparable to other early-stage commercial unconventional plays

Icewine Western Margin Leases bid on by the Company in the Dec'17 State of Alaska Licensing Round were formally awarded

Processing of the Icewine 3D seismic survey acquired Q1'18 commenced during the quarter to mature several large conventional leads previously identified on 2D seismic

Yukon Acreage

  • Yukon Gold leases bid on by the Company in the Dec'17 State of Alaska Licensing Round were formally awarded

  • The Yukon 3D survey, approximately 96 km2 in area, was completed on April 1 with initial deblending commencing during the quarter 

Western Blocks

  • Agreement Executed to Drill High Impact Oil Prospect onshore Alaska Q12019
  • The Company executed a binding term sheet agreement, in conjunction with other parties, to acquire the majority of Great Bear Petroleum Ventures II LLC working interest in four leases comprising the “Western Blocks” located onshore North Slope Alaska

New service from OilVoice
Trip Shepherd is for companies who need to track their staff in areas of risk.
It's free to use, so we invite you to try it.

Visit source site

88 EnergyASXAIMShale FlowShaleYukon AcreageProject Icewine

More items from oilvoice

Cyber Security Experts Unite to Protect Europe’s Critical Industries

CS4CA Summit Returns to London this October Staying abreast of fast-paced industry developments is crucial for cyber security professionals. And while one can learn a lot from publications and social media, it's hard to beat the value of insights gained first-hand from peers. This is why 150+ IT ...

OilVoice Press - OilVoice

Posted 11 months agoPress > cybereurope

Africa E&P Summit

The organisers of the Africa E&P Summit are bringing together Africa's leading exploration companies and governments, just one of the many reasons why you should be attending frontier's event that they are organising and hosting in London at the IET: Savoy Place, 22-23 May. Over 200 key senior exec ...

OilVoice Press - OilVoice

Posted 1 year agoPress > Africasummitoil summit +2

Equinor Deepens in Offshore Wind in Poland

Equinor has exercised an option to acquire a 50 % interest in the offshore wind development project Bałtyk I in Poland from Polenergia. This transaction is a follow-up of the agreement between the two companies which came into force in May 2018 , by which Equinor acquired a 50 % inter ...

OilVoice Press - OilVoice

Posted 1 year agoPress > EquinorEquinor EnergyPoland +2

Nigeria has highest capex on crude and natural gas projects in sub-Saharan Africa Over Next Seven Years, says GlobalData

Nigeria accounts for more than 34% of the proposed capital expenditure (capex) on planned and announced crude and natural gas projects in the sub-Saharan Africa over the period 2018–2025, according to GlobalData , a leading data and analytics company. The company's report: ‘H2 2018 Production ...

OilVoice Press - OilVoice

Posted 1 year agoOpinion > GlobalDataNigeriaCrude +5

CNOOC Signs Strategic Cooperation Agreements with 9 International Oil Companies

HONG KONG, Dec. 18, 2018 /PRNewswire/ -- CNOOC Limited (the "Company", SEHK: 00883, NYSE: CEO, TSX: CNU) announced today that its parent company, China National Offshore Oil Corporation (CNOOC), has signed Strategic Cooperation Agreements with 9 international oil companies including: Chevron, Conoco ...

OilVoice Press - OilVoice

Posted 1 year agoPress > CNOOCChina National Offshore Oil CorporationChevron +11
All posts from oilvoice