27th Jan 2016 10:36
LONDON (Alliance News) - 88 Energy Ltd on Wednesday said the final quarter of 2015 was taken up by its ongoing work at the Icewine oil and gas project in Alaska, the results of which are due to arrive in coming weeks.
The company said the evaluation of the cores data from the Icewine project has now started and the mass spectrometry analysis of the mud gas confirms liquids-rich gas throughout the shale interval at the site.
88 Energy expects the results of the core and log data from the site in coming weeks and said it remains on track to start seismic planning and survey design data acquisitions in March.
88 Energy shares were up 9.5% on Wednesday to 0.312 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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