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(Alliance News) - 88 Energy Ltd on Monday said it expects to receive a permission to drill its Alaskan project Icewine before the end of January.
The Perth, Australia-based company submitted a permit to drill application to regulators in Alaska before the end of last year. Its the final regulatory step before drill work at the Charlie-1 well at project Icewine can begin.
88 Energy added: "All other contracting and logistical work is proceeding as planned ahead of the scheduled February 2020 spud date."
At the Yukon leases, also in Alaska, the company noted that a process to secure a drilling permit is also underway. Subject to a farm-out agreement being secured, the company hopes to drill at the asset in 2021.
88 Energy shares were 5.5% higher at 1.40 pence each in London on Monday morning.
By Eric Cunha; ericcunha@alliancenews.com
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