{"id":47284,"title":"88 Energy Limited (L0N:88E) & Red Emperor Resource (LON:RMP) Spud on Schedule","publisher":"Share Talk","author":"sharetalk","published":"2019-02-15T08:42:27+00:00","modified":"2019-03-04T16:04:40+00:00","canonical_url":"https://www.share-talk.com/88-energy-limited-l0n88e-red-emperor-resource-lonrmp-spud-on-schedule/","markdown_url":"https://www.share-talk.com/88-energy-limited-l0n88e-red-emperor-resource-lonrmp-spud-on-schedule.md","json_url":"https://www.share-talk.com/88-energy-limited-l0n88e-red-emperor-resource-lonrmp-spud-on-schedule.json","category":"Energy","categories":["Energy"],"tags":["88 ENERGY LIMITED","88e","Exploration Well","Red Emperor Resource","RMP","Western Leases","Winx-1"],"featured_image":"https://i0.wp.com/www.share-talk.com/wp-content/uploads/2023/11/Stencil-Google-Chrome-2023-04-19-at-2.47.43-PM.jpeg?fit=1231%2C615&quality=89&ssl=1","format":"news","language":"en-GB","content":" \n\n**Operations Update – Spud on Schedule, Final Preparations Underway**\n\n \n\nNordic rig moving down the gravel road to new drill pad on the North Slope, Alaska\n\n**Western Leases – Winx-1 Exploration Well**\n\nThe Nordic Rig#3 arrived on location, as planned, on the 7th February (AK time). Rig up activities have proceeded smoothly and final preparations for spud are now underway. The call to “crew-up” was made at 0530 14th February (AK time), which usually indicates spud will occur within 24 hours. Regular updates will be made during the drilling operations.\n\nThe Nordic Rig#3 on location, ready to spud, and a map of the Winx-1 Well Location and Regional Nanushuk/Torok Discovery Wells can be viewed at the link below:\n\n[http://www.rns-pdf.londonstockexchange.com/rns/1915Q_1-2019-2-15.pdf](http://www.rns-pdf.londonstockexchange.com/rns/1915Q_1-2019-2-15.pdf)\n\nWinx-1 is located ~4 miles east of the Horseshoe-1/1A well that significantly extended the highly successful Nanushuk play fairway to the south. Winx-1 will target gross best estimate prospective oil resource of 400 million barrels of oil** (144 million barrels net to 88E)** across multiple stacked objectives, including the Nanushuk Formation, which is the primary target of the well.\n\n \n\n \n\nAs previously announced, drilling and testing of Winx-1, in a success case scenario, is scheduled to take approximately 50 days. For further details please refer to the announcement of 31 January 2019 made by 88 Energy Limited.\n\n**Read: ****[OEL, RMP & 88E Set to Drill Multi-Billion Barrel Alaska North Slope](https://www.share-talk.com/rmp-88e-set-to-drill-multi-billion-barrel-alaska-north-slope/?utm_source=twitter&utm_medium=social&utm_campaign=SocialWarfare)**\n\nThe Winx prospect is a 3D seismic defined conventional oil prospect in the successful Nanushuk play fairway with a gross mean unrisked prospective resource of 400 million barrels (“MMbbls”) (**126MMbbls net to Red Emperor**) and is adjacent to the Horseshoe 1/1A discovery well drilled by the Armstrong/Repsol JV in 2017. Refer to the Company’s announcement of 25 June 2018 for further details.\n\n \n\n \n\n![](https://www.share-talk.com/wp-content/uploads/2019/02/Image-2019-02-15-at-9.18.49-AM-259x300.png)\n\n \n\nCautionary Statement: The estimated quantities of petroleum that may potentially be recovered by the application of a future development project(s) relate to undiscovered accumulations. These estimates have both an associated risk of discovery and a risk of development. Further exploration, appraisal and evaluation is required to determine the existence of a significant quantity of potentially moveable hydrocarbons.\n\n \n\n \n\nThe primary objective of Winx-1 is the Nanushuk Topset play, targeting the Nanushuk 4 and 5 sands. As can be seen in Figure 3, the Winx prospect has been identified using the Nanuq South 3D which covers the third party 2017 Horseshoe discovery plus a large swathe of the “Western Blocks”. Similar amplitude response is observed at the Winx prospect to that seen at the successful Horseshoe well location, which is situated approximately 4 miles (6 kilometres) to the west.\n\n "}