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88 Energy drill programme continues to advance Winx-1

Winx-1 is targeting multiple objectives for some 400mln barrels of gross prospective resources

oil and gas operations
Drilling will start in the intermediate section next week

88 Energy Ltd (LON:88E) has updated on the drilling operations at the Winx-1 well in Alaska, telling investors that the surface casing has been run down to 2,500 feet.

It now expects to start drilling the intermediate section of the well next week.

The company anticipates that the Nanushuk formation, the primary target of the well, in the intermediate section.

READ: 88 Energy’s promising Alaska well

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.

Quick facts: 88 Energy Ltd

Price: 1.2675 GBX

Market: AIM
Market Cap: £90.11 m

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Investor Update: 88 Energy completes Premier Oil farm-out in Alaska

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on 27/11/19

2 min read