88 Energy Ltd’s (LON:88E, ASX:88E) interim results statement give investors very little in terms of new information as the operational hiatus in Alaska continues.
Last month, the company announced it was shut-in the Icewine-2 well, on Alaska’s North Slope, in a bid to improve the recovery of fracking fluid ahead of a planned production test. It had been in the middle of flow-back operations after fracking two zones in the HRZ shale.
Prior to the shut-in, around 16% of the stimulation fluid has been recovered.
No further feedback from Icewine-2 well was given in the results statement.
Financially, the company reported a loss of US$7.84mln for the six months period ended June 30.
It ended the half with US$31.55mln of cash on hand.