88 Energy Ltd (AIM:88E, ASX:88E, OTC:EEENF) told investors that the Arctic Fox rig has started drilling the Merlin-2 appraisal well, part of Project Peregrine, on Alaska’s North Slope.
Drilling began on March 7, it said in a statement. The plan is to drill Merlin-2 to a depth of 8,000 feet.
It is targeting some 652mln barrels of oil across the N18, N19 and N20 targets which were encountered in the Merlin-1 well.
The programme will include logging while drilling, mudlogging, and wireline logging before, subject to results, a production test.