Katastrophal in puncto Erwartungen!!! Was für ein faules Ei zu Ostern!
clients3.weblink.com.au/pdf/88E/02359620.pdf
88 Energy Limited Operations Update 88 Energy Limited ("88 Energy" or the “Company", ASX:88E, AIM:88E, OTC:EEENF) is pleased to provide the following update related to its operations in the NPR-A region of the North Slope of Alaska. Highlights • Umiat Oil Field acquisition conditions satisfied • Wireline logging continues at Merlin-1 Details The final condition related to the acquisition of the Umiat Oil Field (“Umiat”) is now complete with cement work associated with plugging and abandoning of two historical wells at the field now executed. Remedial site work will be finalised in the near term. Umiat is an historic oil discovery, made in 1945 in shallow Brookian (Nanushuk) sandstones, located immediately adjacent to the southern boundary of Project Peregrine. The field is covered by two leases comprising 17,633 acres, which are in a unit that was formed in September 2019 with an initial 10 year term. The current conditions of the unit stipulate a well commitment (exploration or appraisal) by 31st August 2022. Umiat was discovered in the mid-1940s with 11 appraisal wells drilled by 1953, several of which were tested. Umiat-5 flowed 268 barrels per day on a 3 month test and Umiat-8 had a peak flow rate of 5.9mmcf/d of natural gas during a 4 day test. Little work was done until 2013/2014 when Linc Energy drilled two wells, Umiat-18 and Umiat-23H. Umiat-23H was tested with a maximum flow rate of 800 barrels per day and sustained flow of 200 barrels per day. Refer to ASX announcement dated 11 January 2021 for further details. |