24th Sep 2015 08:27
LONDON (Alliance News) - 88 Energy Ltd on Thursday said the Kuukpik Rig 5 has been mobilised from Prudhoe Bay to the Franklin Bluffs pad in order to carry out drilling work at the Icewine project in Alaska.
The company said mobilisation and rig up is scheduled to be completed ahead of the planned spud date of the Icewine 1 exploration well in mid-October.
"It's been a tough year in the oil patch but, thanks to the hard work of the 88 Energy team as well as the support of our shareholders, 88E is one of the few junior oil companies providing investors with exposure to significant leverage to what could be a company making well," said Managing Director Dave Wall.
Shares in 88 were down 3.0% to 0.650 pence on Thursday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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