Icewine closes shop for Alaskan winter
PERTH-based oil explorer 88 Energy (88E) has suspended exploration activity at its Icewine project in Alaska.
Its Icewine#2 well was shut-in on 10 July to allow a pressure build up in the highly prospective HRZ shale.
Flow testing resumed in August, however due to cold temperatures the company suspended operations on 18 September.
“Whilst it is frustrating to have to wait over the Winter season for the continued flow test of the HRZ, there are several encouraging signs observed from this most recent phase of testing,” 88E managing director Dave Wall said.
“Given the early stage nature of our appraisal program, we need to have patience and remain open minded as there is no benchmark against which to track the progress of this particular unconventional play.”