88 Energy starts drilling at Alaska oil well

Oil and gas explorer 88 Energy has started drilling at its Icewine 2 production test well in the north slope of Alaska in the US,

The AIM-listed company started drilling on the well on Monday evening and the Arctic fox rig is currently drilling ahead in the surface hole.

Production resting is on schedule for late June, early July.

Managing Director Dave Wall said: "The spud of Icewine#2 represents another milestone for the company and its shareholders and we now look forward to a safe operation, above all else.

“It is only a few short weeks before production testing begins, which could unlock the huge resource potential of the HRZ shale play."