Last $6.01 USD
Change Today +0.31 / 5.44%
Volume 4.7K
OCTX On Other Exchanges
Symbol
Exchange
OTC US
Berlin
As of 8:10 PM 07/10/14 All times are local (Market data is delayed by at least 15 minutes).

octagon 88 resources inc (OCTX) Snapshot

Open
$5.80
Previous Close
$5.70
Day High
$6.01
Day Low
$5.80
52 Week High
09/12/13 - $8.05
52 Week Low
08/7/13 - $4.75
Market Cap
161.9M
Average Volume 10 Days
5.2K
EPS TTM
$-0.03
Shares Outstanding
26.9M
EX-Date
--
P/E TM
--
Dividend
--
Dividend Yield
--
Current Stock Chart for OCTAGON 88 RESOURCES INC (OCTX)

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octagon 88 resources inc (OCTX) Details

Octagon 88 Resources, Inc., a natural resource exploration stage company, is engaged in acquiring, exploring, and developing oil and gas assets in the United States and Canada. It holds interests in 73 sections of 46,720 acres of oil sands leases in the Manning area of northwestern Alberta. The company was founded in 2008 and is headquartered in Steinhausen, Switzerland.

octagon 88 resources inc (OCTX) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: --
Chief Financial Officer, Principal Accounting...
Total Annual Compensation: --
Secretary and Director
Total Annual Compensation: --
Compensation as of Fiscal Year 2013.

octagon 88 resources inc (OCTX) Key Developments

Octagon 88 Resources, Inc. Announces Confirmation of First Horizontal Production Well Drill License

Octagon 88 Resources, Inc. announced that the Manning project's operator has confirmed it has received the license to drill the first horizontal production well (W 7-10-91-22W5), one of a series of horizontal wells on the Bluesky Gething formation as previously advised. Lease preparation on site has been concluded, based on rig availability the operator is now targeting to spud the well on July 15, 2014. This well will be the first of 5 horizontal wells that will be drilled from one well pad; the other four licenses are currently underway. Each well targets the upper zones of the Bluesky Gething formation where the operator has experienced ideal primary production conditions by way of prior core results, lab testing and previous vertical production well testing. The operator reports: 'each well will be 800 to 1200 meters in length with expected results to be production of 150 to 200 barrels a day. The oil tested from the last vertical at AGAT labs showed a consistency of API in the range of 10.5 to 11.5 degrees which is known to be exploitable by Conventional Heavy Oil drilling technology.

Octagon 88 Resources, Inc. announced delayed 10-Q filing

On 05/15/2014, Octagon 88 Resources, Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC.

Octagon 88 Resources Inc. Receives Summary of Results on Bluesky Gething Production Test Well

Octagon 88 Resources Inc. announced it has received a comprehensive report including recent core and Oil sample testing results concluded by AGAT laboratories. The Operator has received oil and core sample properties taken from the recent Bluesky Gething vertical well. The summary made by the operator has confirmed the following: core analysis of these sandstones indicates excellent porosity and permeability, ranging up to 36% and 6200md respectively AGAT analysis of oil saturations in the pay interval are approximately 75%. The well CEC NORTH STAR DEADW 7-10-91-22W5 was drilled in late March 2014 to test the Bluesky Formation. Based on log and core analysis: Analysis of the 3D seismic suggests that the Bluesky channels extend beyond the 3(rd) party PIIP analysis concluded late summer 2013. The operator has confirmed that they will now proceed to drill a horizontal production well starting approximately 1,400 meters east of the targeted 10-23 well to achieve a longer horizontal production well into the desired upper channel target. The Operator expects that this well will encounter much thicker upper channel sandstones with more pay, and similar to the producing Bluesky Gething sandstones to the south. The well has been surveyed and the D-56 letter issued and licensing is underway. Well license should be issued by mid-May and as soon as the spring melt is dried up, the Operator will move on to drill, complete and produce this well.

 

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