88 Energy Limited (GB:88E) has released an update.
88 Energy Limited has announced the successful flow of light oil from two reservoirs at its Hickory-1 discovery well in Alaska, with post-test studies and commercialization options, including partnerships and early-stage development, now being considered. The flow rates from the Upper SFS and SMD-B reservoirs showed promising results with peak rates of 70 and 50 barrels of oil per day, respectively. The company is now focusing on securing a contingent resource, attracting partners for further appraisal and development, and advancing early stage production system planning.
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