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Indeed it is but that’s the reality of a binary play.
Make no mistake if we get no flow at all the MMs will treat it like a duster.
Likewise if we flow as predicted expect to reap the rewards for getting in early.
We will find out soon enough
The facts are
88e have kept a lid on this which is impressive .
It’s a nonsense ti interpret that because the last rns said they look forward to updating the market news will be positive.
The neutral stance of mms should tell you this could swing either way
If you were billy big balls and bought this mini retrace you’ll reap the benefits either toMmorow or Tues
Like wise you will likely take a very heavy kick to the nuts if no flow or a trickle
I’m all for a big profit but let’s have a sensible pill here that would be a 700 mill mkt cap from a flow test that 88e have advised would be around 100 bopd
With a fair wind and both flows successfull I could see 1p but 3p is just plain unrealistic
I guess we will find out but my take is with it being a short week they won’t rush this. Results by end of week …could be Sat then analysis so my gut says Tuesday
If it was a traditional well with just a stem test I would say yup 100 percent Wed/Thurs but as you can see by 88e ism flow test info these are complex wells to get flowing (just ask PANR) so it’s in everyone’s interest not to rush this
88 Energy Limited (ASX:88E, AIM:88E, OTC:EEENF) (88 Energy or the Company) is pleased to provide the following update on its ongoing flow testing operations at the Hickory-1 well within its Project Phoenix acreage located on the North Slope of Alaska:
• Upper SFS (USFS) flow testing operations at the Hickory-1 discovery well are nearing completion.
• Results are to be announced once the flow back programme is completed and results analysed,
which is anticipated to be at the end of this week.
• Activities leading up to fracking the USFS zone took longer than initially estimated, in part due to weather conditions, however, flow back from the USFS reservoir will conclude in the coming days following collection of all key data and samples.
• The flow testing programme for the shallower SMD-B reservoir is scheduled to begin immediately after the flow back of the Upper SFS reservoir is complete and is expected to last around 14 days. As with the USFS test, the length of the program may be adjusted depending on operational conditions.
• The program remains fully funded, with only marginal increases in duration and forecast costs within budgeted contingency.
• Completion of operations and demobilisation from site is now expected around mid-April.
The Company looks forward to providing an update with results from the Upper SFS flow test.