The explorer said that the construction work is presently underway for the 11-mile ice road to access the Winx-1 site. It will take around three weeks to complete and the well pad will be completed thereafter.
Winx-1 aims to extend the Nanushuk oil play fairway, as it is located around four miles from the Repsol drilled Horseshoe discovery well.
It has a 400mln barrel target, 144mln net to 88 Energy, across multiple stacked objectives.
"Commencement of drilling at the highly anticipated Winx-1 exploration well is now as little as six weeks away, with everything proceeding to plan,” said Dave Wall, 88 Energy managing director.
“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."
88 Energy has a 40% interest in the project and it is partnered with Red Emperor Resources which has a 31.5% interest.
Red Emperor chief executive Gracjan Lambert, in a separate statement, added: "It is very exciting to reach this significant operational milestone with the commencement of ice road construction.
“We are on schedule and fast approaching what will be a very exciting and potentially company transforming well."
88 Energy shares gained just over 3% in Monday morning’s dealing, to trade at 1.09p each.
-- Updated to include share price details --