Last checked at 
LONDON (Alliance News) - 88 Energy Ltd and its partners said Thursday the ice road construction at its Winx-1 exploration well located in the US state of Alaska was now nearing completion.
In separate announcements Thursday, Winx-1 operator 88 Energy and partner Red Emperor Resources NL reported that the ice road was now 85% complete with the ice pad build expected to start "shortly."
Once the 11 mile road and the ice pad is complete, the Nordic Rig No 3 rig will be mobilised at the site. The rig recently underwent a six-day inspection to ensure it was functioning properly. Only minor issues were found during this inspection with it generally reported as in "excellent" condition.
"Final preparations are now being made for mobilisation of the rig for a mid-late February spud," 88 Energy Managing Director Dave Wall said. "The rig is in good condition and we are looking forward to a safe and successful drilling operation."
Last Thursday, 88 Energy, Red Emperor and fellow partner Pantheon Resources PLC reported that the Alaska Oil & Gas Conservation Commission had approved the permit to drill the Winx-1 well.
Winx-1 is targeting a gross best estimate prospective resource of 400 million barrels of oil.
Shares in 88 Energy were 2.2% lower at 1.10 pence on Thursday, Red Emperor 1.6% lower at 4.23p and Pantheon down 3.1% at 21.80p.
