Alaska, page-403

also some 88E/Winx coverage in the nextoilrush

" ........88E Drilling in Q1 2019 – The Winx-1 well at Nanushuk88E’s interests in the North Slope include ground across the Nanushuk oil field, one of the US’s largest conventional oil discoveries in 30 years and one of the largest globally in the last three years.A recent IHS Markit report makes reference to the Nanushuk formation as a previously ignored shallow formation, which forms part of the multi-billion barrel increase in recoverable reserves in Alaska.The Nanushuk fairway is exactly where Repsol and Armstrong Energy make the Horseshoe discovery, which extended Nanushuk and boosted the resource potential to at least 500 million barrels of oil.A consortium of 88E, Otto Energy Ltd (ASX: OEL) and Red Emperor Ltd (ASX | AIM: RMP) acquired the majority of privately owned Great Bear’s working interest in the four leases comprising the Western Blocks in the middle of 2018 marking the groups entry into Nanushuk.Technical evaluation and 3D seismic interpretation of the Western Blocks by Otto Energy generated a large oil prospect located just seven kilometres east of the Horseshoe#1/1A Nanushuk oil discovery well drilled in 2017.The prospect has a gross mean unrisked prospective resource volume of 400MMbbls (144MMbbls net to 88E) and a geological chance of success in the range of 25-30%.88E are going to test this resource potential with the drill bit in Q1 of 2019 via the Winx-1 well.88E will be earning 36% by paying 40% of the drilling costs of the Winx-1 well, estimated at US$15M on a dry hole basis, which is funded by the company’s current cash position.Note that the Winx prospect identified on 3D seismic with a similar amplitude signature to that seen at Horseshoe only seven kilometres to the east:

The consortium have selected the location of Winx-1 to test multiple stacked objectives within the proven Nanushuk fairway, so as the drill bit passes through each target, investors and other Alaskan oil explorers will be paying close attention to the results.

The Horseshoe oil discovery signalled the presence of an extensive previously overlooked hydrocarbon province on the North Slope, which is now attracting major development capital – and we will soon find out what 88E can unlock here early in the New Year....."

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