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IN BRIEF: 88 Energy Says Merlin-1 Well In Alaska To Spud Early March

Tue, 23rd Feb 2021 15:31

88 Energy Ltd - Alaska-focused oil producer - Says its Merlin-1 exploration well in the Peregrine project area in Alaska is due to spud in early March. It adds it is targeting 645 million barrels of oil, which will be followed by the Harrier-1 well which has 417 million barrels of oil. Notes it expects Harrier-1 to cost USD7 million. Highlights total prospects at Peregrine - Merlin, Harrier and Harrier Deep - have around 1.63 billion barrels of total prospects.

Current stock price: 0.45 pence

Year-to-date change: down 2.2%

By Ife Taiwo; ifetaiwo@alliancenews.com

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