Source - SMW
88 Energy continues to monitor pressure and flowback of stimulation fluid from Icewine #2, while waiting for hydrocarbons to be released from the reservoir. 

88 Energy said flowback began on 19th June from stage 2 (upper zone). 

It said approximately 8% of total stimulation fluid volume was recovered until it became apparent, due to rate and pressure observations, that the upper zone was likely in communication with the lower zone. 

It said: "Consequently, a decision was made to drill out the plug between the upper and lower zones. 

"No increase in pressure was observed, confirming that the two zones are in effective communication. 

"Trace hydrocarbons were encountered whilst flowing back the upper zone prior to drilling out the plug and, as expected, the flow rate returned to 100% stimulation fluid once the two zones were flowed back together.

"Flowback, currently comprising 100% stimulation fluid, is continuing. Percentage of fluid recovered to date is ~13% of the total fluid pumped. 

"It is estimated that up to 30% of the stimulation fluid will need to be recovered before hydrocarbons will be released from the reservoir."

Managing director Dave Wall said: "We continue to monitor pressure and flowback of stimulation fluid whilst we wait for hydrocarbons to be released from the reservoir. 

"Given that we are breaking new ground in relation to the HRZ formation, we need to establish the conditions under which the hydrocarbon cut will return and then increase.

"The stimulation was executed precisely as per plan with over one million lbs of proppant placed into the formation.

 "A little patience is now required as we give the rocks time to show us what they can deliver."


At 9:06am: (LON:88E) 88 Energy Ltd share price was -0.5p at 2.93p