12th February 2020 88 Energy Limited Operations Update 88 Energy Limited ("88 Energy" or the “Company", ASX:88E, AIM 88E) is pleased to provide the following update related to operations for the upcoming Charlie-1 appraisal well, on the North Slope of Alaska. Highlights • Ice road now >80% complete • Permit to Drill approved for Charlie-1 appraisal well • Spud on track for late February Detail The ice road to the Charlie-1 location is now >80% complete and expected to be finished in the next two weeks. Ice pad construction is due to commence shortly and mobilisation of the Nordic Rig#3 to site should begin in approximately 10 days. Consequently, spud of Charlie-1 is anticipated in late February. The Permit to Drill was approved on the 11th February and all permits required for drilling of Charlie-1 are now in hand. A presentation detailing the drilling timetable and testing program will be released to the market prior to spud. Managing Director of 88 Energy, Dave Wall, stated: "Excellent progress has been made on the ice road construction, despite extremely cold temperatures. All permits are now in hand ahead of the scheduled spud in late February.” |