88 Energy higher as it kicks off Charlie-1 appraisal well in Alaska
"The Charlie-1 well has been four years in the making for 88 Energy, beginning in 2016 when we first acquired 2D seismic over our project Icewine acreage"
Company
88 Energy Ltd
LON:88E
88 Energy Ltd is a multi-listed oil and gas exploration and production company with a North American focus. The company has operator exploration and appraisal projects in onshore Alaska and non-operator exploration in onshore Namibia. It has been operating on the North Slope of Alaska since 2015, successfully drilling multiple exploration wells and acquiring extensive seismic data across a large acreage position.
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88 Energy relays key well details as Charlie countdown continues
Following the team-up deal with Premier Oil the AIM and ASX quoted explorer is looking forward to the start of drilling, in late February.
88 Energy expects Charlie well to spud in late February
A permit to drill has now been awarded, the ice road is more than 80% complete and rig mobilisation is slated to start in around ten days.
88 Energy raises A$5mln ahead of Charlie well programme
Unsolicited demand for shares was amongst the catalysts for the pre-drill placing, 88 Energy revealed
88 Energy says considering potential capital raising as share trading halted on ASX
The group said it is currently intended that any such capital raising will utilise the company's existing authorities and will not be subject to shareholder approval
88 Energy on track for February spud at Charlie-1 in Alaska
Charlie-1 will intersect seven stacked prospects, four of which are considered appraisal targets.
Proactive weekly oil & gas highlights: Genel, 88 Energy, Falcon Oil & Gas, United, Sound Energy, Tower Resources, Anglo African
It was another reasonably busy week in the oil and gas sector.
88 Energy says Charlie-1 well is “progressing to plan” ahead of February spud
"The New Year is off to a busy start for the Alaska operations team with all activity progressing as planned,” said managing director Dave Wall
88 Energy says work on ice road to appraisal well should start before 2020
Drilling is scheduled to commence in February 2020 with flow testing anticipated to conclude in April 2020
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88 Energy finalises Premier farm-out as countdown for Charlie well continues
Investors in AIM-quoted 88 Energy are looking forward to February's Alaska well in partnership with Premier Oil.
88 Energy continues countdown to Charlie-1 well in Alaska
“Charlie-1 will intersect seven stacked prospects, four of which are interpreted as oil bearing in Malguk‑1 and are therefore considered appraisal targets”
88 Energy’s Charlie well may be the explorer’s best opportunity to date
A partnership deal with Premier Oil this summer put the explorer's Charlie project under the spotlight.
88 Energy prepares for Charlie-1 well as completion of Premier Oil pair-up nears
Next month the Premier Oil farm-out will complete, giving the new partner some 60% of the project.
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88 Energy advances key projects in first half
88 Energy said it continues to receive third-party interest in the HRZ shale project for a farm out
88 Energy Limited raised A$6.75mln
The new cash injection will be used to bankroll the additional costs of the Charlie-1 well over and above the expenditure being carried by its partner, Premier Oil
88 Energy launches A$10mln equity funding
Coming after last month's farm-out to Premier the AIM-quoted explorer plans to raise AS$10mln with a placing.
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88 Energy details Icewine’s conventional resources after Premier Oil farm-out
Premier Oil agreed to pay US$23mln of costs for the planned Charlie well.