88E 16.7% 0.5¢ 88 energy limited

Hi Srood,The Charlie-1 prospect being a conventional spud as...

  1. 2,755 Posts.
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    Hi Srood,
    The Charlie-1 prospect being a conventional spud as opposed to our previous prospects HRZ Icewine#1 & 2, makes
    it an attractive and a far less risky option for investors.
    In addition to this is the modern 2018 3D seismic acquisition for this target as opposed to the older vintage less clear
    images used previously.

    Also, Alaska and in particular the North Slope have both become a focus of industry attention, especially since Repsol and
    Armstrong Energy proved up the presence of commercial hydrocarbons there, and in more recent times, ConocoPhillips
    also had some excellent results at Nanushuk. Nanushak and the Torok Fm have many simular geo features like rock
    properties, porosity, age etc - The relevance of Torok being that that's where our Stellar target lies, in particular, the
    Lwr Stellar.

    Assuming we start spud mid-Feb, we were told that it would take 20 - 30 days drill time, then we have 2 weeks to log,
    1 week to figure out which zone is going to be fracked and tested, then there's wireline logs and the magnetic resonance,
    and flow testing is expected in April.
    No shortage of activity for us in the ensuing 4 months or so. The big question for many investors will be, how long do I hold?
    Anyway, plenty of activity and opportunity during the first quarter to allow investors to buy/sell or just simply hold to the very
    end of the drilling campaign.

    Here's to a successful drill campaign and favourable outcome in 2020.



 
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