Was soll denn das sein????
88 Energy Limited
Operations Update
88 Energy Limited ("88 Energy" or the “Company", ASX:88E, AIM:88E, OTC:EEENF) is pleased to
provide the following update related to its operations in the NPR-A region of the North Slope of Alaska.
Highlights
• Umiat Oil Field acquisition conditions satisfied
• Wireline logging continues at Merlin-1
Details
The final condition related to the acquisition of the Umiat Oil Field (“Umiat”) is now complete with
cement work associated with plugging and abandoning of two historical wells at the field now
executed. Remedial site work will be finalised in the near term.
Umiat is an historic oil discovery, made in 1945 in shallow Brookian (Nanushuk) sandstones, located
immediately adjacent to the southern boundary of Project Peregrine.
The field is covered by two leases comprising 17,633 acres, which are in a unit that was formed in
September 2019 with an initial 10 year term. The current conditions of the unit stipulate a well
commitment (exploration or appraisal) by 31st August 2022.
Umiat was discovered in the mid-1940s with 11 appraisal wells drilled by 1953, several of which were
tested. Umiat-5 flowed 268 barrels per day on a 3 month test and Umiat-8 had a peak flow rate of
5.9mmcf/d of natural gas during a 4 day test. Little work was done until 2013/2014 when Linc Energy
drilled two wells, Umiat-18 and Umiat-23H. Umiat-23H was tested with a maximum flow rate of 800
barrels per day and sustained flow of 200 barrels per day. Refer to ASX announcement dated 11
January 2021 for further details.