88 Energy Ltd (LON:88E) this morning issued a statement telling investors it is on schedule to spud the Winx-1 exploration well later today.
The explorer said in a statement that the drill rig arrived on site as planned last week, rig-up operations have gone smoothly and final preparations are underway before the spud.
READ: 88 Energy prepares to drill promising Alaska well
Regular investor updates are planned as drilling operations progress, it added.
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.