Managing director Ashley Gilbert…
“The flowing of light oil from multiple reservoirs demonstrates the potential that this acreage holds for our shareholders, positioning the company to grow and extract value from Project Phoenix via multiple potential development and commercialisation pathways.
“These include *farm-out* to a *strategic partner* in pursuit of a carry towards a development proposition and/or accelerated, capital-lite production given the highly development-friendly location of Hickory-1 within the North Slope.
“Development of these reservoirs is anticipated to be via long horizontal production wells, with *numerous* production analogues elsewhere demonstrating many multiple times the flow rates achieved from vertical wells.”
Gilbert also told investors that a detailed evaluation of the test data will be undertaken over the coming months, which will result in a new independent *contingent resource assessment* for the SFS and SMD reservoirs.
MASSIVE SUCCESS
Managing director Ashley Gilbert…“The flowing of light oil from...
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Last
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Mkt cap ! $87.93M | |||
| Open | High | Low | Value | Volume |
| 0.3¢ | 0.4¢ | 0.3¢ | $84.16K | 25.43M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 501 | 695686793 | 0.3¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
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| 0.4¢ | 227546649 | 53 |
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| Last trade - 16.10pm 30/04/2024 (20 minute delay) ? |
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Last
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Change
0.001 ( 2.94 %) |
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| Open | High | Low | Volume | ||
| 0.4¢ | 0.4¢ | 0.3¢ | 11905786 | ||
| Last updated 15.54pm 30/04/2024 ? | |||||
| 88E (ASX) Chart |