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88 Energy begins fluid recovery at Icewine well
AIM-listed exploration company 88 Energy has begun nitrogen lift operations at its Icewine-2 well in Alaska, recovering fluids previously injected into the site through fracking.
88 Energy revealed that total volume of flowback fluids since restarting the project had hit 820 barrels, representing roughly 23% of the injected fracking fluid.
The Western Australia-based firm is targeting a recovery of 30% of fracking fluids.
88 Energy said that the rate of recovery and the composition of the flow was "as expected for this stage of the flow-back" and noted that it considered the results to be "unrepresentative of the hydrocarbon composition" due to the reservoir still being in "clean-up phase".
Elsewhere, 88 Energy revealed it had been formally awarded the Yukon and Western leases it had bid for back in December 2017, both of which are wholly owned by the firm and comprise a total of approximately 31,000 acres - 14,194 acres at Yukon Gold and 17,280 in the Western leases.
As of 1050 BST, Conroy shares had lost 2.64% to 1.85p