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88 Energy confirms Winx-1 exploration drilling is underway

Published: 02:37 18 Feb 2019 EST

Winx-1 drilling.
Drilling started at Winx-1 on Friday

88 Energy Ltd (LON:88E) confirmed that drilling operations kicked off at the Winx-1 well, in Alaska, on Friday.

The drilling began on schedule, it added.

As of yesterday, the well had been drilled down as far as 880 feet, and, the company noted that next in the plan is to drill down to around 2,500 feet before setting the surface casing.

READ: 88 Energy continues to advance Alaska assets

It noted that regular updates will be made during drilling operations.

Winx-1 is targeting multiple objectives for some 400mln barrels of gross prospective resources, which is 144mln net to 88 Energy.

The well will aim to extend the Nanushuk oil play fairway, as it is located around four miles from the Repsol drilled Horseshoe discovery well.

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