88 Energy Ltd (AIM:88E, ASX:88E, OTC:EEENF) has selected the location for its planned Merlin-2 appraisal well on Alaska’s North Slope, where the explorer aims to begin drilling by February.
The company told investors Merlin-2 will be drilled in a location east and downdip of Merlin-1, in an area expected to display thicker reservoir sections along with higher permeability and porosity.
Merlin is seen as a possible 652mln barrel exploration target with an estimated geological chance of success of 56%.
It is anticipated Merlin-2 will undergo production testing, subject to results.
Permitting and planning are at an advanced stage..
The chosen well location for Merlin-2 was preferred among three potential sites. 88 Energy said the other two locations can potentially be used at a later stage for follow up wells.