29th Dec 2015 08:05
LONDON (Alliance News) - 88 Energy Ltd on Tuesday said the Icewine 1 well in Alaska was drilled to its target depth and that it met all primary unconventional drilling objectives, along with robust conventional finds.
The company said oil shows were recorded in the drill hole, along with good heavy gas and shale gas shows.
In addition to the unconventional finds, the company also saw robust results on the conventional oil and gas resources at the project, and a detailed petrophysical log interpretation of those results is now underway, it said.
In addition, the reservoir quality in the Kuparak sand interval at the project is "substantially" higher than 88 Energy had expected, it said, which could prove positive for deeper prospectivity on the overall Project Icewine acreage.
"We look forward to providing more insights into the potential of both the unconventional and conventional prospectivity at Project Icewine over the coming weeks as well as updating investors on the forward programme," said Dave Wall, 88 Energy's managing director.
By Sam Unsted; [email protected]; @SamUAtAlliance
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