88 Energy Limited (AU:88E) has released an update.
88 Energy Limited heralds a significant advancement in their Project Phoenix with the successful flow tests of the Hickory-1 well, which revealed substantial oil production potential. The company reports peak flow rates of over 70 barrels per day from the Upper Slope Fan System and 50 barrels from the Shelf Margin Deltaic, indicating strong prospects for future horizontal well development. Additionally, they are initiating a farm-out process to attract strategic partners for the next stages of development.
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