Archived News
In August 2021 Finfeed changed from a website that covered ASX listed news to a website
that covered a select range of ASX
listed small cap Biotech stocks that we are personally
invested in: find out more.
The old Finfeed website, and all of the old articles are kept here for record keeping purposes.
VISIT NEW SITE88 Energy highlights multiple share price catalysts
2 minute read
88 Energy Limited (ASX:88E; AIM:88E) informed the market today that it remained on track for the scheduled February spud of the Merlin-1 well at Project Peregrine, North Slope of Alaska.
Merlin-1 will target the Nanushuk topset play that has been recently successful in offset acreage as well as elsewhere on the North Slope.
Provided things go to schedule, the Harrier-1 well will be drilled directly after Merlin-1 has been completed and, potentially, flow tested.
Snow road construction to the Merlin-1 and Harrier-1 locations commenced in the second half of December 2020 with work currently focused on the first 30 miles of snow road within NPR-A.
In further promising news, the All American Oilfield’s Rig 111 is currently being re-assembled post deconstruction as part of the commissioning process prior to handover and mobilisation to site.
Rig 111 as shown below was contracted in December 2020 to drill the Merlin-1 and Harrier-1 wells.
There is the possibility of highly promising newsflow in coming weeks as the Talitha-A well, to be drilled by Pantheon Resources PLC (AIM:PANR) close to the northern border of the 88E central acreage position, is scheduled to spud in the first half of January 2021.
Several of the prospective horizons in Talitha-A are interpreted to extend into 88E acreage as shown below.
In-house analysis has commenced on various commercialisation options for the gas condensate discovered in the Torok Formation by 88E’s Charlie-1 well in 2020.
The discovered resource comprises over 1 TCF of independently estimated gross mean prospective gas as well as associated condensate.
The commercialisation options include, but are not limited to, possible local power generation and compressed natural gas.
There is also the potential for conversion to hydrogen using steam methane reforming (SMR) with carbon capture and storage (CCS) processes.
It is expected that this work will move to a formal feasibility stage during 2021.
Running in tandem with these initiatives will be the farmout of Project Icewine, with a deal targeted in the September quarter.
Commenting on the potential for dual near-term catalysts, 88 Energy managing director Dave Wall said, "It is now full steam ahead with operations prior to the scheduled spud of the first well, Merlin-1, at Project Peregrine in six to eight weeks.
Whilst the Peregrine drilling forms the focus, there is plenty of activity on other fronts that we look forward to providing updates on throughout the course of 2021. ”
Latest articles on 88 Energy
More Commentary
Vulcan gathers highly-credentialed team to complete DFS
05-07-2021
IVZ sets July as start date for Seismic campaign
25-06-2021
Post-drilling analysis delivers positive results for 88 Energy
25-06-2021
Elixir intersects 50 metres of coal at Yangir-1
23-06-2021S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.
Conflict of Interest Notice
S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.
Publishers Notice
The information contained in this article is current at the finalised date. The information contained in this article is based on sources reasonably considered to be reliable by S3 Consortium Pty Ltd, and available in the public domain.