88 Energy has reported a delay at its Icewine #1 exploration well while it awaits a drilling permit from Alaskan authorities.
Drilling is scheduled to begin this month. The company’s oil spill plan was approved at the end of last week, but the drilling permit must wait until additional information has been supplied to the Alaska Oil and Gas Conservation Commission.
The Australian-headquartered explorer anticipates the information can be obtained and incorporated into a modified Permit to Drill by October 19 with permission given later that week, allowing for spudding of the Icewine #1 well.
Dave Wall, managing director of 88 Energy, commented:”Unfortunately, a seemingly inevitable left field issue has resulted in delay of spud.
“We appreciate that this is frustrating for shareholders at this late stage; however, the Company has the situation well in hand.”
Managing Director Dave Wall, said: “Unfortunately, a seemingly inevitable left field issue has resulted in delay of spud. We appreciate that this is frustrating for shareholders at this late stage; however, the company has the situation well in hand.”