By Josh White
Date: Friday 27 Dec 2019
LONDON (ShareCast) - (Sharecast News) - 88 Energy updated the market on the upcoming drilling of the Charlie-1 appraisal well at Project Icewine, on the Central North Slope in Alaska on Friday, reporting that the initial snow trail from the Dalton Highway was now complete.
The AIM-traded firm said ice road construction was on track to begin "within days", adding that operational activity for Charlie-1 was progressing to plan for a spud in February.
It explained that Nordic Rig 3 would exit the Dalton Highway around 20 miles south of Deadhorse before it begins its 30-mile journey on an ice road to the Charlie-1 location.
Everything was proceeding as planned, ahead of the scheduled spud date, the board confirmed.
"It has been a successful year for the Company, having matured part of the conventional potential at Project Icewine to the point of a farm-out that makes a lot of sense for our shareholders," said managing director Dave Wall.
"We are now on the cusp of drilling a potentially transformational well, Charlie-1, in the first quarter of 2020 and are looking forward to a safe and successful operation."
At 1437 GMT, shares in 88 Energy were up 4.37% at 1.12p.
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Currency | UK Pounds |
Share Price | 0.17p |
Change Today | 0.003p |
% Change | -1.47 % |
52 Week High | 0.45 |
52 Week Low | 0.16 |
Volume | 215,862,957 |
Shares Issued | 25,124m |
Market Cap | £42.08m |
Value |
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Price Trend |
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Income |
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Growth |
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No dividends found |
Time | Volume / Share Price |
12:45 | 9,422 @ 0.17p |
12:32 | 1,176 @ 0.17p |
12:32 | 1,604,805 @ 0.17p |
12:20 | 825,486 @ 0.17p |
12:15 | 472,837 @ 0.17p |
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