88E Flow Test Results Due Next Week
Our US oil & gas Investment 88 Energy (ASX: 88E) is now days away from initial flow test results from its Hickory-1 discovery in the North Slope Of Alaska, USA.
Yesterday 88E confirmed that results would be announced “at the end of this week”.
The first set of results will be from the upper SFS reservoir.
The second flow test across the SMD-B reservoir will start straight after and is expected to take ~14 days to complete.
We have covered 88E’s flow test and its significance for the company in our last note.
In that note we detailed:
- What we know about 88E’s Hickory-1 well so far?
- What we are looking forward to with the flow test
- What Success Looks like - 88E’s Pathway to Commercialisation
You can read that note here: 88E Found Oil. Does it Flow? We will Soon Find Out
Context on the flow test -
For those who are new to the story, last year 88E drilled the Hickory-1 well, targeting a ~647m barrel prospective resource.
In November, 88E was able to declare a discovery from one of the six reservoirs intercepted - declaring a ~250m barrel contingent resource in the lower BFF reservoir on the project.
Now 88E will be flow testing the well in shallower reservoirs - a key phase of work and proof point to determine whether or not 88E’s project can be commercialised.
With the flow test 88E’s goal is to try and declare discoveries and book contingent resources across more of its reservoirs.
What’s next for 88E?
- Hickory-1 flow test 🔄
- Results from Upper Sfs reservoir due by the end of this week
- Results from the SMD-B reservoir 14 days after the first set of results.
- Maiden prospective resource estimate for 88E’s Project Leonis 🔄
