17th Sep 2015 09:54
LONDON (Alliance News) - 88 Energy Ltd on Thursday said the lease plan of operations for the drilling of the Icewine 1 exploration well in Alaska has been approved by local authorities.
The Alaskan Department of Natural Resources' oil and gas division has approved the plan, and 88 said it now needs to secure approval for the Oil Discharge Prevention and Contingency Plan and for its Permit to Drill submission.
"The plan of operations is the centrepiece of the permitting process and its approval is another key milestone for the company ahead of the imminent drilling of Icewine #1, which remains on track for mid October spud," said Dave Wall, 88 Energy's managing director.
Shares in 88 Energy were up 5.5% to 0.691 pence on Thursday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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