88 Energy boss says Icewine ‘couldn’t be going much better’
Here we catch up with 88 Energy boss Dave Wall via a company Q&A.
Company
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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Here we catch up with 88 Energy boss Dave Wall via a company Q&A.
Just shy of a third of all exploration costs for the new well will ultimately be paid by the company, due to arrangements with Bank of America and Alaska’s oil incentives.
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“At this stage of the process, we are highly encouraged by these results; however, substantial additional work is ongoing to de-risk our key 'Achilles heels',” Dave Wall said.
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The company said Icewine-1 well achieved all of its “primary unconventional objectives”.
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The Icewine well is now into the primary target, albeit at a deeper than expected depth, with oil and gas shows also recorded.