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88 Energy (ASX: 88E) expects BFF maiden contingent resource estimate in November

October 30, 2023 12:04 PM AEDT | By Sonal Goyal
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Highlights

  • NSAI, an independent consultant, has been appointed to assess the BFF reservoir at Project Phoenix.
  • This development follows the announcement of a significant contingent resource by Pantheon Resource Plc.
  • The completion of the maiden contingent resource estimate is expected during next month.
  • The maiden contingent resource estimate could confirm Hickory-1 as a discovery, says 88E.

88 Energy (ASX: 88E, AIM: 88E) has roped in Netherland, Sewell & Associates, Inc (NSAI), an independent resource certifier, to examine the Basin Floor Fan (BFF) reservoir at Project Phoenix. The latest development follows the declaration of a substantial contingent resource for the lower BFF by Pantheon Resources Plc.

NSAI would examine the BFF reservoir for a maiden contingent resource estimate on the basis of nearby offset well results and Hickory-1 results. This development may confirm Hickory-1 as a discovery, says 88E. Furthermore, it would allow shifting the focus of Hickory-1 testing to the shallower reservoirs.

The maiden contingent resource estimate is expected to be completed in November 2023.  

88E shares traded at AU$0.006 apiece at the time of writing on 30 October 2023.


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