88 Energy (ASX:88E) has announced drilling of the Hickory-1 exploration well has commenced, in the project Phoenix on the north slope of Alaska.

88 Energy says the initial surface hole will be drilled to about 3,500 feet, cased and BOP (Blow-Out Preventer) system tested, which is anticipated to take about a fortnight. 

It also says the well is designed to appraise up to six conventional reservoir targets within the SMD, SFS, BFF, and KUP reservoirs, and 647 million barrels of oil.

Following the announcement, shares of 88 Energy were unchanged at $0.012.