10th Sep 2015 07:05
LONDON (Alliance News) - 88 Energy Ltd shares were trading higher Thursday morning after the company said it has executed the rig contract with Kuupik Drilling LLC to spud the Icewine 1 well in Alaska.
The well is on schedule to be spud in October, 88 Energy said.
"With the spud date for Icewine #1 fast approaching, it is great to have finalised a rig contract with Kuukpik. We are now fully funded, with a rig. The last of the permits required are also falling into place such that spud of the well remains on track for mid October," said Dave Wall, 88's managing director.
Shares in the company were up 10% to 0.639 pence early Thursday, one of the best performers in the AIM All-Share.
By Sam Unsted; [email protected]; @SamUAtAlliance
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