88 Energy (88E) announced that the Hickory-1 well is to proceed to flow testing (I published a Note regarding this on 16 April). The wireline programme has been successfully completed and initial petrophysical interpretation has confirmed the presence of multiple hydrocarbon bearing pay zones across all pre-drill targets, in addition to the new upper SFS reservoir identified. These zones are planned to be to flow tested as early as possible in the 2023/2024 winter operational season. Next door neighbour Pantheon Resources (PANR) also issued an update, commenting on 88E’s announcement. As it points out these large resources are in tight oil-bearing formations (which are eschewed by the experienced oil companies).Always remember, these are penny stock plays, not investments.
88E Price at posting:
0.9¢ Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)