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- 88 Energy (88E) selects the location for its planned Hickory-1 exploration well in Alaska after reviewing some key 3D seismic data from its Icewine East lease area
- The company says its interpretation of key Franklin Bluff 3D seismic survey data (FB3D) defined “sweet spots” for several play fairways in the area
- Further, the data helped identify the location for the Hickory-1 well, which is designed to intersect and test four key target reservoirs at Icewine East
- 88E Managing Director Ashley Gilbert says the company continues to advance its Icewine East acreage towards the planned exploration well to be drilled in the first half of 2023
- Shares in 88 Energy are up 12.5 per cent and trading at 0.9 cents at 10:54 am AEST
88 Energy (88E) has selected the location for its planned Hickory-1 exploration well in Alaska after reviewing some key 3D seismic data from its Icewine East lease area.
The company said its interpretation of key Franklin Bluff 3D seismic survey data (FB3D) defined “sweet spots” for several play fairways in the area and had helped identify the location for the Hickory-1 well, which is designed to intersect and test all key fairways.
88 Energy plans to drill the well during the first half of 2023.
“We continue to advance our Icewine East acreage towards the planned drilling of an exploration well next year,” Managing Director Ashley Gilbert said.
“Importantly, the Hickory-1 well, and more generally the Icewine East acreage, has been significantly de-risked by the recent drilling and flow tests carried out on the adjacent acreage by Pantheon Resources, as well as data from the Icewine-1 well logs and the richly detailed FB3D data set.
“These existing data sets, and the multi-disciplinary evaluation undertaken on them, substantially increase our confidence in unlocking the potential of the Icewine East acreage.”
Hickory-1 has been designed as a vertical well to be drilled to approximately 12,500 feet to intersect and test all four key target reservoirs at Icewine East.
Using the results from the initial analysis and interpretation of the FB3D, in combination with Icewine-1 well logs, the company has identified an optimal drilling location for the well.
This location intersects and will test the substantial potential oil volumes noted across all mapped play fairways.
Shares in 88 Energy were up 12.5 per cent and trading at 0.9 cents at 10:54 am AEST.
