Project economics out “in the coming weeks”: 88 Energy
88 Energy (ASX:88E) is just weeks away from spelling out the economics at its Icewine project in Alaska – saying that the more it looks at the geology of the project the more confident it is.
Releasing an update to its shareholders this morning, 88E said that scoping economics for the project would be spelled out for the market “in the coming weeks”.
It has been hard at work looking at previous rock sampling work and interpreting the results of a recent 2D seismic survey, with an eye towards finalising a spot for a horizontal well at the project, Icewine-2H.
It said that based on the work that it had narrowed the focus of the well to two horizons – with the final horizon to be selected based on the “optimal stimulated rock volume”, which in turn should offer up the best flow potential.
It said early projections of well performance based on the data indicated that the high potential flow rates “should significantly improve the break-even price for Project Icewine” in a success scenario.
Meanwhile, it has confirmed that it has become the fifth largest single holder of acreage in Alaska’s Central North Slope after a previous acreage deal officially closed.
Central North Slope operators by acreage
Its 100% owned subsidiary Accumulate Energy now holds 210,250 acres as part of the Icewine JV with Burgundy Xploration – with the JV holding a total of 271,119 acres.
It re-iterated that it was on track to spud Icewine-2H in the first quarter of next year, with contracting for the spud due to begin next month.
Where to invest $1,000 right now
When the experts at Next Investors have a stock pick, it may pay to listen.
The Next Investors have been investing in ASX small cap stocks for years, with their best small cap picks yielding returns of 1,200%, 1,120%, 900% and 678%.
They have just revealed their hand-picked, FY2021 stock portfolio of high conviction long-term investments.
Click the link below to see what they are currently investing in.
S3 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. No “insider information” is ever sourced, disclosed or used by S3 Consortium.
