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88 Energy Ltd - Australia-based oil explorer in US state of Alaska - Says the completed third party preliminary mapping of the Shelf Margin Delta play, where its "neighbour" Pantheon Resource has had success in recent months, indicates that all play fairways extend into its Icewine project. Says that Pantheon confirmed reservoir deliverability of light, sweet oil, which is positive for the prospectivity of the adjacent Icewine acreage. Says the completion of the independent resource update for project Icewine is scheduled for the second quarter.
The Icewine project is located on the central North Slope of Alaska and covers roughly 195,000 acres.
Current stock price: 0.86 pence, up 7.5% on Friday
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By Abby Amoakuh; abbyamoakuh@alliancenews.com
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