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BRIEF-88 Energy Says Charlie-1 Well Confirms Large Condensate Discovery In Torok Formation

Published 2020-04-06, 06:28 p/m
© Reuters.

April 7 (Reuters) - 88 Energy Ltd 88E.AX :

* CHARLIE-1 CONFIRMS LARGE CONDENSATE DISCOVERY IN TOROK FORMATION

* CHARLIE-1 WELL PROVED PRESENCE OF MOBILE HYDROCARBONS IN FORM OF CONDENSATE GAS IN MIDDLE STELLAR & LOWER STELLAR TARGETS

* PREMIER INFORMED JV IT INTENDS TO WITHDRAW FROM PROJECT, AS CHARLIE-1 WELL DID NOT MEET PRE-DRILL EXPECTATIONS

* COST OF CHARLIE-1 WELL REMAINS WITHIN EXPECTED BUDGET & CO DOES NOT EXPECT TO INCUR COSTS FROM DRILLING

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