88 Energy makes good progress at Winx-1

The AIM-traded firm also said drilling of the intermediate section was scheduled to start in the week beginning 25 February.

It said the Winx-1 exploration well was drilled to around 2,500 feet on 20 February local time, as scheduled, with casing run successfully.

The forward plan included the cementing of casing in place, a mandatory test of the blowout preventer system, drilling out cement into the 8.5 inch hole, and performing a formation integrity test.

After those activities, drilling would commence in the intermediate section of the well, where the primary Nanushuk target formation would be intersected.

“Winx-1 is located four miles east of the Horseshoe-1/1A well that significantly extended the highly successful Nanushuk topset play fairway to the south,” the 88 Energy board explained in its statement.

“Winx-1 will target gross best estimate prospective oil resource of 400 million barrels of oil - 144 million barrels net to 88 Energy - across multiple stacked objectives, including the Nanushuk Formation, which is the primary target of the well.”