Update: Encouraging results from Repsol point to potential
Repsol and Armstrong have just released very encouraging results from their winter drilling programme onshore the North Slope of Alaska. Two wells in the Nanushuk tested at rates of 2.2mb/d (vertical well) and 4.6mb/d (horizontal well) and point to commercial discoveries. These results bode well for 88 Energy's acreage position (formal award of acreage is pending) and should ignite further interest in the relatively underexplored potential of the onshore, which benefits from an attractive fiscal regime, low break-evens and good netbacks for development. We expect 88 Energy to farm down the acreage for fully carried exploration well(s) around the turn of the year and such positive results in the area should add to industry interest. Drilling from Great Bear in adjacent acreage could add to this.88 Energy is engaged in oil and gas exploration. As of Dec 31 2016, Co. held 78.0% interest in Project Icewine located in Onshore Alaska, North Slope, Alaska, U.S.
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