Sponsored

88 Energy (ASX: 88E, AIM: 88E) confirms discovery status for BFF reservoir at Project Phoenix

November 06, 2023 03:02 PM AEDT | By Sonal Goyal
Follow us on Google News: https://kalkinemedia.com/resources/assets/public/images/google-news.webp

Highlights

  • Maiden contingent resource estimate concluded for the BFF reservoir at Project Phoenix
  • Independently certified contingent resource assessment has been prepared by NSAI, which confirms discovery status for the BFF reservoir
  • RDN on track for 1QFY24 operations for the Project Pheonix

88 Energy Limited (ASX: 88E, AIM: 88E) informed that the maiden independent contingent resource estimate for the Basin Floor Fan (BFF) reservoir at Project Phoenix has been completed.

Data source: Company update

The certified assessment has been constructed by Netherland, Sewell & Associates, Inc. (NSAI) – an independent consultancy based in the US for the petroleum industry. The assessment confirms the discovery status at Icewine-1 and Hickory-1 for the BFF reservoir and also validates the internal assessments of Project Phoenix.

With this development, the company could concentrate the Hickory-1 flow testing on the shallower reservoirs. Moreover, the additional testing of the reservoir dependent upon green signals and funding from JV.

Data source: Company update

88E shares traded flat at AU$0.006 apiece at the time of writing on 6 November 2023.


Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.

Two ASX Listed Stocks Giving Bullish Indications

Recent Articles

Investing Tips

Previous Next
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.