88 Energy Ltd (AIM:88E, ASX:88E, OTC:EEENF) has announced its well testing plans in Alaska are on-track, with the securing of necessary permits.
The company, in a statement, said it has now begun operations in preparation of the flow text including rig commissioning and the construction of the ice pad.
This paves the way for the mobilisation of the rig, anticipated by ‘mid-February’.
Hickory-1 and the upcoming test programme represent a significant and hotly anticipated catalyst for the company and its investors.
The testing operations will assess the SFS and SMD zones reservoir zones, which together are estimated to contain a significant oil prospective resource.
In the programme, the company intends to stimulate and flow testing of each target zone to the surface, utilizing nitrogen lift to facilitate an efficient clean-up of the well.
It is expected that each zone will take around ten days for each zone - including perforation, completion, stimulation, clean-up, a pressure build-up and downhole fluid sampling programme.
88 Energy highlighted it would provide another update once the flow testing operations get underway.