88 Energy Share Discussion Threads

[unabkxb] 04/9/2017 07:32

There is still hope. High wellhead pressure and presence of gas requiring methanol injection to prevent formation of hydrates. Plus recent pressure increase. Early days as the RNS says.

[11_percent] 04/9/2017 07:25

The current flowback procedure is early stage and the significance of an implied pressure contribution from the reservoir and formation of gas hydrates cannot yet be determined.

------

What does that mean.

Pish........if they are getting hydrates at the surface manifold.......they must be producing gas.

[11_percent] 04/9/2017 07:18

RNS in the header....



04/09/2017 7:00am

UK Regulatory (RNS & others)


TIDM88E

RNS Number : 6684P

88 Energy Limited

04 September 2017

4 September 2017

88 Energy Limited

Project Icewine Operations Update

88 Energy Limited ("88 Energy", "the Company", "Operator") (ASX, AIM: 88E) is pleased to provide an update on Project Icewine, located onshore North Slope of Alaska.

Highlights


   --     Flow testing on Icewine#2 re-commenced 31(st) August 10:26 (AK time) post 7 week shut-in
   --     Currently flowing back naturally on 4/64 choke at 70 barrels per day frac fluid
   --     Minor hydrocarbon indications via formation of gas hydrates within the choke manifold
   --     Pressure data analysis indicates limited connection to the reservoir prior to last 24 hours
Icewine#2 Operations Update

The Icewine#2 well was shut-in on 10(th) July to allow for imbibition and pressure build up to occur within the HRZ shale. Flow testing re-commenced on 31(st) August at 10:26 (AK time), and is ongoing. Results since flow testing recommenced are summarised below.

The Icewine#2 well is located on the North Slope of Alaska (ADL 392301). 88 Energy Ltd (via its wholly owned subsidiary, Accumulate Energy Alaska, Inc) has a 77.55% working interest in the well. The well was stimulated in two stages over a gross 128 foot vertical interval in the HRZ shale formation, from 10,957-11,085ft TVD, using a slickwater treatment comprising 27,837 barrels of fluid and 1,034,838 pounds of proppant.

The well was initially flowed back on a 6/64 inch choke and was reduced to a 4/64 inch choke after 26 hours to maintain pressure. Approximately 370 barrels of frac fluid had been recovered as at 1730 on 3(rd) September (AK time) at an average rate of 100 barrels per day. Hydrocarbon indications have been minor and are associated only with the formation of gas hydrates in the choke manifold. Methanol injection has been initiated to prevent the surface manifold equipment from freezing thereby ensuring free flow of produced fluids through the choke.

Wellhead pressure built to 3,500psi during shut-in and has dropped to 1,130psi since flowback commenced. Initial analysis of the pressure data from both the build-up and flowback indicates limited connection to the reservoir prior to the last 24 hours. At 0550 on the 2(nd) September (AK time) a small pressure build-up was observed, potentially indicating the first contribution to pressure from the reservoir itself. This is the first time that this has occurred since flow testing was initiated, including the previous testing period prior to shut-in. To date the cumulative amount of stimulation fluid produced from both testing periods is 4,802 barrels, 17.25% of fluids injected.

The current flowback procedure is early stage and the significance of an implied pressure contribution from the reservoir and formation of gas hydrates cannot yet be determined.

Media and Investor Relations:

88 Energy Ltd

Dave Wall, Managing Director Tel: [phone]

Email: [e-mail]

[gowski] 04/9/2017 07:14

I'm sitting tight

[11_percent] 04/9/2017 07:14

The gas is in well, and at the surface...it's forming hydrates.

They are injecting mmethinol to stop this.

[ronjoe77] 04/9/2017 07:11

OK.. 27,837 bbls of ff ÷ 70 bbls a day = 397 days30%= 8351 ÷70 = 119 days.17%?? Been recovered13% =3618 ÷ 70 = 51 days at this rate, just hope the gas gets into the well soon

[11_percent] 04/9/2017 07:08

They are getting gas, that is the problem....it's forming hydrates.....which is why they have changed the choke size.

[11_percent] 04/9/2017 07:06

I did say, don't hold over the weekend.

[ronjoe77] 04/9/2017 06:49

Good thing is it's flowing, the bad thing is you have to close in the chk to maintain psi, as gas comes in to the well it wants to expand as it rises up the casing, pushing more ff out the well, and you will have to open the chk to maintain a constant psi, looks like the well is given the ff back and could be a few more days of waiting on the gas coming into the well, as for wildcat drilling read you post again. Spook

[11_percent] 04/9/2017 06:42

Duster.

Worth zero.

[defcon3] 04/9/2017 06:10

Anyone still holding this after the recent rise deserves what happens today. You had ample opportunity to get out on what clearly was a rise on hope. All the signs were there.

[jammytass] 04/9/2017 05:28

ALL the globe mugs where warned this would be a duster free fall crash ahead

[palwing13] 04/9/2017 03:44

88 Energy Ltd88E (ASX)0.035AUD -0.008 (-18.60%)Sep 4, 12:22 PM GMT+10 

[squire007] 04/9/2017 01:22

September
2017
88 Energy Limited
Project Icewine
Operations Update
88 Energy Limited (“88 Energy”, “the Company”, “Operator̶1;) (ASX, AIM: 88E) is pleased to provide
an update on Project Icewine, located onshore North Slope of Alaska.
Highlights
•
Flow testing on Icewine#2
re-commenced
31
st
August 10:26 (AK time)
post ~7 week shut
-in
•
Currently f
lowing back naturally on 4/64 choke at ~70 barrels per day frac fluid
•
Minor hydrocarbon indications via formation of
gas
hydrates within the choke manifold
•
Pressure data analysis indicates limited connection to the reservoir prior to last 24 hours
Icewine#2
Operations Update
The Icewine#2 well was shut
-in on 10
th
July to allow for imbibition and pressure build up to occur
within
the HRZ shale.
Flow testing r
e-commenced on 3
1
st
August at 10:26 (AK time)
, and is ongoing. Results
since flow testing recommenced are summarised below.
The Icewine#2 well is located on the North Slope of Alaska (ADL 392301). 88 Energy Ltd (via its
wholly owned subsidiary, Accumulate Energy Alaska, Inc)
has a 77.55% working interest in the well.
The well was stimulat
ed in two stages over a gross 128
foot v
ertical interval in the HRZ shale
formation, from
10,957
-11,085
ft TVD, using a slickwater treatment comprising
27,837 barrels of fluid
and 1,034
,838
pounds of proppant.
The well
was initially
flowed back on a 6/64 inch choke and was reduced to a 4/64 inc
h choke
after 26
hours
to maintain pressure. Approximately 370
barrels of frac fluid
had
been
recovered as at 1730 on
3
rd
September (AK time)
at an average rate of
100 barrels per day
. Hydrocarbon
indications have
been minor and are associated only with
the formation of gas hydrates in the choke manifold. Methanol
injection has been initiated to prevent the surface manifold equipment from freezing thereby ensuring
free flow of produced fluids through the choke.
Wellhead pressure built to ~
3,500psi during
shut
-in and has dropped to 1,130psi
since

[mrfortune] 03/9/2017 23:10

Super Highways...

This is a long term hold for me!

And then when the value is realised and Paul gets the call from his old pals at Connoco Phillips for a take over, Ill hope it all starts over again with ROSE Petroleum.

I can dream ay.

Best of luck everyone

[ride daice] 03/9/2017 17:23

Is it not tricky switching between all these accounts ?

[11_percent] 03/9/2017 17:20

Hey......my m8s at the Hedge fund have pointed out that the last few hours trading on Friday were a "share shuffle".

The sellers took it down....then buying.......

[11_percent] 03/9/2017 17:17

No, you do kill or even suspend a well to work it over.

Anyway, the well is still shut in.

My man on the site says they will open it tonight.

[ronjoe77] 03/9/2017 17:05

I think you might be getting it right.You temp kill wells to work on them.Me being in drilling we call it killing.As I said it's no big deal.It's a bit like going to surgery knock you out, work on you bring you back.. It's the word kill that freak investors out, you know if killing a well freaks you out. And that you have to call me out.. Then o&g is not for you.. The word kill will come up in many,many times in drilling campaign if you think like the Waltons over on Lse you going to be in big trouble.. This is wildcat drilling, if you follow the big Base drum from the t shirt mob. Ask your self we're have all the ramped gone..

[11_percent] 03/9/2017 16:48

RNS tomorrow...saying they just opened the well......flow up-dates pending.

[ronjoe77] 03/9/2017 16:34

Yes it's suspend the well, rather than kill the well. I will say that from now on. But drilling terminology is kill the well, on a temporary basis. Lol