88 Energy Limited - Operations Update
· Ice road construction commenced for Winx-1 exploration well
· Winx-1 Permit to Drill submitted
· Spud schedule for mid-late
Western Leases - Winx-1 Exploration Well
Construction of the ~11 mile ice road to the Winx-1 exploration well location commenced on the 2nd
An image of the
The Permit to Drill for Winx-1 was submitted to the
Winx-1 is located ~4 miles east of the Horseshoe-1/1A well that significantly extended the highly successful Nanushuk play fairway to the south. Winx-1 will target gross best estimate prospective resource of 400 million barrels of oil (144 million barrels net to 88E) across multiple stacked objectives, including the Nanushuk, which is the primary target of the well.
Cautionary Statement: The estimated quantities of petroleum that may be potentially recovered by the application of a future development project relate to undiscovered accumulations. These estimates have both an associated risk of discovery and a risk of development. Further exploration, appraisal and evaluation are required to determine the existence of a significant quantity of potentially movable hydrocarbons.
Commenting on the operations update,
Winx-1 aims to further extend the Nanushuk play fairway, only 4 miles east of the recently successful Horseshoe well where similar seismic amplitude response was observed."
Media and Investor Relations:
Finlay Thomson, Investor Relations Tel: +44 797 624 8471
Dale Bryan Tel: + 61 8 9268 2829
Neil McDonald/Derrick Lee Tel: +44 131 220 6939
This information is provided by RNS, the news service of the
Quick facts: 88 Energy Ltd
Market Cap: £33.96 m
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