88 Energy Ltd's (ASX:88E, LON:88E) managing director, Dave Wall, has told investors that the company’s Alaskan oil shale project continues to move forward with “significant progress” being made on all fronts.
“Well planning, contracting and permitting remain on track ahead of the scheduled spud of Icewine#2H in Q1 2017 when the productive potential of the HRZ will be tested potentially unlocking a huge resource play on the North Slope of Alaska,” Wall said in a statement.
In a project update the company said well and stimulation design for the next well, Icewine#2H, are now in the final stages of completion and are currently being fine-tuned. Other preparations continue for the well, which is expected to spud in early 2017.
Additionally, it says projections of potential well performance and its effect on the project economics is ongoing.
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