
Charlie-1 looms as potential company maker for 88 Energy
Written by Trevor Hoey ALASKAN focused oil and gas group, 88 Energy Ltd (ASX:88E) provided a further update on Monday regarding the progress of the group’s Charlie-1 appraisal well on the North Slope of Alaska. With the rig mobilised and drilling to start this weekend there is the potential for near-term market moving news. 88 Energy has the support of Premier Oil Plc which sees the company fully carried up to US$23 million while still maintaining a 30% working interest. Charlie-1 will test multiple stacked targets in the March quarter assessed at 480 million barrels net to 88E. This will see the group step-out to Malguk-1, an historic discovery well drilled by BP in 1991. Consequently, the group is in…