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88 Energy looks forward to February spud for Winx exploration well

The company is working towards its first conventional oil exploration well, slated for February
oil and gas operations
It could be a 400mln barrel asset

88 Energy Ltd (LON:88E) is looking forward to the February spud of the Winx-1 exploration as today confirms that it has secured most permits for the project.

The explorer, in a stock market statement, said the final application for a ‘permit to drill’ is on schedule for submission prior to year-end, and, accordingly, approval is expected in January.

READ: 88 Energy successfully completes placing ahead of new Alaska well

At the same time, it highlighted that operations to prepare for ice road and pad construction are underway. It is anticipated that the build will also get underway in January.

Winx-1, on Alaska’s North Slope, is set to be drilled some 4 miles to the east of the third-party drilled Horseshoe discovery well.

The 88 Energy prospect is estimated to host a potential 400mln barrel oil resources, split across multiple ‘stacked’ objectives.

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