88Energy 88E Icewine

88 Energy (88E.L, ASX:88E) has had a busy summer, but unfortunately this didn’t result in the desired results. After an initial test-run, the Icewine #2 well was shut in on July 10th for about 7/8 weeks to allow for some pressure to build up in the well. On August 31st, testing re-commenced but unfortunately 88Energy had to decide to shut the well down again on September 18th when the well head pressure fell to a level which was insufficient to keep the flow going.

The well will now remain shut in until April/May 2018 when 88Energy will restart its activities using an artificial lift strategy in an attempt to determine the commercial viability of the well. We liked the risk/reward ratio at Icewine, but unfortunately we will have to wait an additional six months before knowing more.

Go to 88 Energy’s website
The author has no position in 88 Energy. Please read the disclaimer

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