88 Energy Limited (AU:88E) has released an update.
88 Energy Limited celebrates a significant milestone with the second light oil discovery at the SMD-B reservoir in its Hickory-1 well, Alaska, yielding a peak flow rate of around 50 barrels per day. With minimal associated gas flow, the results confirm the analysis and underscore the potential for development through long horizontal wells, which are expected to significantly outperform the tested vertical wells. The company foresees multiple development and commercialization avenues ahead, including partnerships and capital-efficient production strategies.
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