88 Energy (LON:88E ASX:88E) has started to process data from its Icewine#2 well in Alaska with production testing remaining on track for the end of June.
Wireline logging was completed over the weekend, it said, with the quality of the data described as excellent and complementary to the core and logs retrieved at Icewine#1, the first well on the prospect.
Zak Mir: 88 Energy can head back to 3.5p over next month says chart
Dave Wall, 88's managing director, added that while it is an early stage in the processing and interpretation, the results confirm the data obtained from Icewine#1.
“Additional insights are expected from the log interpretation and completion of the micro stimulations over the coming days as we finalise the design to the stimulation program.”
The enhanced data suite will ensure that optimal design of the planned stimulation is achieved at Icewine#2.
88 said it will have to re-install the liner at Icewine#2 but Wall said this was a minor setback that has not altered the schedule for production testing as it was already running ahead of plan.
Shares rose 3.24% to 2.76p.
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