LONDON (Alliance News) - 88 Energy Ltd said Friday the surface casing for a well on Alaska's North Slope has been successfully run to the planned depth.
88, the operator of the Winx-1 well, has successfully drilled to the targeted depth of 2,500 feet, and it has now run a casing down to that depth.
The company will now cement the casing in place, test the blow-out preventor system, drill out cement into the hole, and perform a formation integrity test.
Winx-1 is targeting gross best estimate prospective of oil resources of 400 million barrels of oil on the multiple objectives, with the primary target being the Nanushuk formation.
The announcement was also noted by Red Emperor Resources NL, which has a 32% interest in the well.
Shares in 88 were 2.3% higher on Friday at a price of 1.04 pence each, with Red Emperor down 2.2% at 4.05p.
