88 Energy (ASX:88E, LON:88E) is to fast track its drilling permit application at its Alaskan project, Icewine, through a services agreement with Fairweather Science.
Fairweather (FWS) has extensive experience in Alaska and federal permitting, developing plan of operations, regulatory compliance, and negotiating mitigation measures.
88 added that FWS has identified the presence of an existing gravel pad on the Icewine leases that may minimise adverse effects on vegetation, habitat, impacted wildlife and cultural resources.
A draft Plan of Operations for the drilling of the Icewine #1 exploration well has been drawn up.
88 said: “The company is also making headway in relation to funding / farm-out of its share of exploration costs (net of the generous rebate) and, despite the low oil price environment, remains confident of achieving an accretive outcome for shareholders.
“Having access to the higher (85%) rebate in CY2015, as well as the other advantages likely to be afforded through use of the existing pad, will facilitate these discussions.”
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