It’s spudded.
Our oil and gas exploration Investment 88 Energy (ASX:88E | OTC: EEENF) has just started drilling its Hickory-1 well on the North Slope of Alaska, USA.
88E is drilling into a 647 million barrel prospective mean unrisked resource (net to 88E) across six stacked targets.
Over the coming weeks we will be learning about how much of this prospectivity could result in an economic hydrocarbon discovery.
Given the amount of data including 2D and 3D seismic, and previous drilling in the same targets and near this well, its 88E’s lowest risk well from a technical perspective.
The goal with this well is less about making a new discovery, and more to prepare for a flow test in the next drilling season.
Over the coming weeks, we expect to get regular newsflow on drilling progress and observations of what 88E is drilling through (we hope lots of oil).
Ann: Hickory-1 Well Spudded, page-82
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