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88 Energy counts down to drilling at Merlin

The permit to drill was approved on January 29, before an expected spud date of February 12.

88 Energy Ltd - 88 Energy counting down to drilling at Merlin

88 Energy Ltd (LON:88E) confirmed it is expected to spud the Merlin-1 exploration well in Alaska, as it has now landed approval for its permit to drill.

The company said that the permit was deemed complete by the Alaska Bureau of Land Management (BLM) on the January 28, 20231, and was submitted to the Deputy Assistant Secretary for Land and Minerals Management.

There, it was approved on January 29, ahead of an expected spud date of February 12.

"After a brief hiatus in activity, it is now back to full operations with ramp up towards the spud of Merlin-1, which is expected in around four weeks,” said 88 Energy managing director Dave Wall in a statement.

“The support received for our project at the local and Federal level has been extremely satisfying and we are very grateful to all involved in getting things back on track."

88 Energy resumed site operations and preparation work last week, and it expects rig mobilisation is due this week.

Quick facts: 88 Energy Ltd

Price: 0.55 GBX

Market: AIM
Market Cap: £66.89 m

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