Ann: Hickory - 1 Operations Update, page-53

Some interesting info..

This well is what is called an “appraisal well” - meaning the drill program will target an already discovered hydrocarbon accumulation to get a better understanding of its extent and size.

88E will be looking to identify and prove working reservoir units are present -
if successful, 88E plans to flow test the well towards the end of 2023/early 2024.

This is the seventh well 88E has drilled on the North Slope, and from a technical standpoint, it is the lowest risk.

This is because a significant amount of work and millions of dollars of past exploration has gone into selecting the drill location.

• 88E has already drilled two wells on this acreage, and it hit oil shows in this upcoming well’s primary targets.
• 88E is armed with 2D & 3D seismic data - when in the past it hadn't had this data going into drilling events.
• 88E’s $774M capped next door neighbour to the north has drilled four wells over the last four years - with the wells confirming the presence of oil and producing flow rates - and it's now moving closer to 88E’s well location with its fifth well.

With all that in mind, each of 88E’s targets' geological chance of success ranges from 50% to 81% across its targets.

IMHO
DYOR

https://nextinvestors.com/articles/88e-to-drill-hickory-1-within-a-month-heres-why-its-88es-lowest-risk-well-from-a-technical-perspective/