88 Energy (ASX88E) has reported that the Hickory-1 exploration well in Alaska has intersected the SMD-A, B, and C reservoirs, with indications of potential hydrocarbon reserves.
The presence of hydrocarbons was evidenced by fluroescence under ultraviolet light in cuttings samples, and reservoir permeability was also indicated by "immediate and streaming" blue-white "cuts" when solvent was applied.
88 Energy says the current depth of the well is about 8,820 feet, and it will continue drilling into the secondary reservoirs about 11,000 feet down, with the process expected to take a further three - five days.
Upon completion, wireline logging preparations will commence and are anticipated to last between five to seven days.