88 Energy: Executes rig contract for Hickory-1, Alaska

88 Energy Executes rig contract for Hickory-1, Alaska

• 88 Energy (88E) executes a rig contract with Nordic-Calista to drill the Hickory-1 well on the Alaskan North Slope
• The Hickory-1 well will appraise six reservoir targets and 647 million barrels of oil within the Icewine East area, which has recently been renamed “Project Phoenix”
• 88Energy says the name change better aligns with its “refreshed” exploration strategy for this acreage
• Hickory-1 is expected to spud in late February or early March next year and will be drilled to a total depth of 12,500 feet
• Company shares are down 5 per cent to trade at just under a cent at 12:51 pm AEDT