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(Alliance News) - 88 Energy Ltd on Wednesday provided an update from its Charlie-1 well in the Icewine oil project located in Alaska, where drilling kicked off earlier in March.
88 Energy said the well has been drilled to a depth of 3,500 feet, which is about 1,067 metres.
The company said it will now run casing at a hole which has a depth of 12 foot, 25 inches. After that, 88 will begin drilling a production hole.
88 back in October said it eyed starting a drill programme at Charlie-1 in February, with flow testing expected to conclude in April.
Shares in the company were 6.8% higher at 0.93 pence each in London on Wednesday afternoon.
By Eric Cunha; ericcunha@alliancenews.com
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