Oil shows at Icewine-1 December 4th, 2015 by finfeed

FYI...From FinFeed
88 Energy (ASX:88E) has hit oil shows at its Icewine-1 well in Alaska.
Oil shows at Icewine-1

http://finfeed.com/oil-gas/88e/oil-shows-at-icewine-1/20151204/

//
In particular, a 110-foot section hit gas shows “significantly above background”, while oil shows with minor fluorescence were also recorded.
88E told its shareholders that the oil show was residual in nature, so while at this stage it doesn’t amount to an oil find it does confirm the presence of a working petroleum system in the conventional horizon.

While there is further analysis to be undertaken, the oil show opens up the possibility that there could be a working petroleum system across the entirety of the company’s Icewine acreage, which it recently tripled.
Meanwhile, the heavy gas shows fit within the company’s thermal maturity model, giving it further confidence that its underlying assumptions on the play were correct.
//

//The increased acreage position means that its target HRZ shale now has a recoverable estimate of a whopping 2 billion barrels of oil on 88E’s acreage.//

//Previous drilling into the HRZ has shown porosity to be 18.4%, which is estimated to be about 50% better than the Eagle Ford Shale in Texas.//