88 Energy Limited - Operations Update - Spud on Schedule
Operations Update - Spud on Schedule, Final Preparations Underway
o Spud on schedule for 15th February (AK time) - final preparations underway
Western Leases - Winx-1 Exploration Well
The Nordic Rig#3 arrived on location, as planned, on the 7th February (AK time). Rig up activities have proceeded smoothly and final preparations for spud are now underway. The call to "crew-up" was made at 0530 14th February (AK time), which usually indicates spud will occur within 24 hours. Regular updates will be made during the drilling operations.
The Nordic Rig#3 on location, ready to spud, and a map of the Winx-1 Well Location and Regional Nanushuk/Torok Discovery Wells can be viewed at the link below:
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 oil resource of 400 million barrels of oil (144 million barrels net to 88E) across multiple stacked objectives, including the Nanushuk Formation, 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.
Media and Investor Relations:
Email: [email protected]
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
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