88 Energy Ltd (AIM:88E, ASX:88E, OTC:EEENF) has put its excitable investor base on notice with a social media post telling them that the spudding of the Hickory-1 exploration well is now imminent.
It shared an image of the mobilisation of the Nordic Calista Rig 2 at the Hickory-1 well location, part of 88 Energy’s Project Phoenix, and said that the rig is now “all set ahead of the imminent spud”.
Mobilisation of Nordic Calista’s Rig 2 at the Hickory-1 well location on our Project Phoenix acreage. The rig and associated equipment and camps are all set ahead of the imminent spud of Hickory-1.
— 88 Energy Ltd (AIM:88E, ASX:88E, OTC:EEENF) (@88EnergyLtd) March 7, 2023
Just over a week ago, 88 Energy reported in a stock market statement that preparations for the well were advancing.
Hickory-1 is intended to test up to six conventional reservoir targets with pre-drill estimates seeing the potential for some 647mln barrels of oil.
Drilling is expected to take around four weeks, followed by wireline logging and, subject to results, a programme of flow testing would be expected to follow in the 2023/24 winter season.