Sign up UNITED KINGDOM
Proactive Investors - Run By Investors For Investors

88 Energy’s Icewine is ‘compelling’, broker says

The AIM quoted shares advanced more than 300% this week following the release of the latest results from the Icewine well.
88 Energy’s Icewine is ‘compelling’, broker says
Patersons analyst Jason Chesters pointed to upcoming catalysts.

88 Energy’s (LON:88E) Icewine is a ‘compelling’ project despite low oil prices, according to Australian broker Patersons.

Analyst Jason Chesters, in a note, has highlighted that Icewine is well located and near vital infrastructure, and pointed to cost advantages.

The AIM quoted shares advanced more than 300% this week following the release of the latest results from the Icewine well. 

Those results indicated the project is so far going to plan. Analysis has confirmed that the HRZ shale formation is permeable, and it believes the shale is sufficiently porous.

And this week’s update indicated that a large part of the acreage is located in a ‘sweet spot’ for thermal maturity.  The upshot of this is that the potential hydrocarbon resource is believed to comprise oil (with relatively low viscosity) and ‘wet’ gas.  These details are not in themselves conclusive of a commercial success, but are plainly encouraging.

For the lay-person what probably matters most is that the findings conform to pre-drill expectations.

Patersons reckons the remainder of the Icewine 1 well results and analysis will provide further share price catalysts, and also highlights another will be an independent resources report.

“Success in these efforts could act as a catalyst for a farm-in partner or potentially a buy-out,” Chesters added.

Jamie_55a91591db06b.jpg
Why Invest In 88 Energy ltd? Read More Here

Register here to be notified of future 88E Company articles
View full 88E profile

88 Energy ltd Timeline

Related Articles

Picture of palm oil kernels, from which crude palm oil is produced
May 19 2016
Tomco says the palm oil opportunity has low capex costs and potential for cash flows starting in mid-2017.
021_thunder_horse_platform_gulf_of_mexico.jpg
February 04 2016
Increasingly the focus is switching to Ireland’s west coast, where Providence currently has the largest acreage position.
88 Energy emboldened as Icewine continues to impress
April 22 2016
APRIL 22: 88 Energy unveiled a larger than anticipated equity funding, after it saw high levels of demand from ‘high calibre’ investors.

© Proactive Investors 2016

Proactive Investor UK Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.