88 Energy Ltd (AIM:88E, ASX:88E, OTC:EEENF) said preparation for the flow testing programme at its Hickory-1 well site is proceeding smoothly with all operations following the scheduled timeline and no significant issues.
This pivotal testing programme aims to confirm the commercial viability of the well's discoveries, which if successful will be a significant catalyst for the company and its investors.
Mobilisation of the rig is expected to be complete in the next seven to ten days, the company noted.
It added that partner Burgundy Xploration has now remitted US$1.75 million in full payment of outstanding 2023 cash calls and committed to Hickory-1 flow testing.
“Once mobilisation of Rig 111 is completed and rigged up at the well site, the company will provide a further update on the commencement of flow test operations,” the company said in a statement.
“Operations start with retrieval of the kill string in the well, followed by drill out of plugs, clean-up of the wellbore, change-out to completion fluid ahead of perforation of the first zone.”