88 Energy Limited ("88 Energy", "the Company") (ASX, AIM: 88E) is pleased to confirm that the Company's latest corporate presentation is now available at the link below and on the 88 Energy website at www.88energy.com .
Further to the announcement on 12 February 2020, the presentation confirms that rig mobilisation has commenced as well as outlining the expected drilling timetable and testing program for the upcoming Charlie-1 appraisal well, on the North Slope of Alaska, details of which are set out below.
Drilling and Logging
· Drilling to Total Depth (planned ~11,400'), Logging While Drilling and Wireline Logging estimated to take ~30 days
State of the Art Subsurface Evaluation Program
· Utilisation of the latest proven technology
· Program specifically designed to evaluate:
o Formations that may have laminations resulting in low resistivity pay
o Formations with low to moderate permeability
o Formations with considerable bound water
· Prior to advent of specialist tools, the above challenges often resulted in pay being left behind
· Subsurface evaluation to be followed by up to two production tests
· Zones of interest and final test design to be determined by results of logging
· Each test estimated to take ~14 days
· Total program estimated to take ~60 days, with reporting of results determined by materiality and continuous disclosure obligations