RE: 88e - Eddison 2019 drill research30 Jan 2019 16:43
Operational update wording relating to target (Oldest first)
The Winx -1 well will test a 3D seismically defined oil prospect in the successful Nanushuk play fairway comprising multiple stacked objectives with a gross mean unrisked prospective resource of 400MMbbls (144MMbbls net to 88E) and a geological chance of success in the range of 25-30%.
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The rig contract was executed with Nordic-Calista Services utilising Rig 3, which is a single module, self-propelled drilling rig, capable of drilling to depths of 12,000' - 14,500'. The rig structure is fully winterised for Arctic Operations and the rig has previously been utilized for grassroots drilling, exploration, sidetracks and workovers on the North Slope.
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The Winx -1 well will test multiple stacked conventional Brookian targets delineated on 3D seismic with the primary objective located in the successful Nanushuk play fairway. The unrisked gross mean prospective resource at Winx-1 totals 400MMbbls, (144MMbbls net to 88E), with a geological chance of success in the range of 25-30%.
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Additionally, further analysis has provided positive insights into the prospects / discoveries identified in the shallow Schrader Bluffs Formation as well as the deeper Torok Formation. These insights are particularly encouraging by comparison to recent successful production testing in the Nanushuk Formation discoveries made over the last four years on the North Slope.
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The Winx-1 exploration well is located onshore North Slope of Alaska, ~4 miles east of the Horseshoe#1/1A discovery well, which substantially extended the fairway for the successful Nanushuk oil play. Winx-1 has a best estimate unrisked prospective resource of 400 million barrels of oil, (net to 88E 144 million barrels - refer release 30th July 2018), over multiple stacked objectives, including the Nanushuk Formation (primary target).Further details of Winx-1 operations related to the date of spud, drilling plan and contingent testing program will be released closer to commencement of drilling.
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Winx-1 is located ~4 miles east of the Horseshoe-1/1A well that significantly extended the highly successful Nanushuk play fairway to the south. Winx-1 will target gross best estimate prospective resource of 400 million barrels of oil (144 million barrels net to 88E) across multiple stacked objectives, including the Nanushuk, which is the primary target of the well
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Winx-1 is located ~4 miles east of the Horseshoe-1/1A well that significantly extended the highly successful Nanushuk play fairway to the south. Winx-1 will target gross best estimate prospective resource of 400 million barrels of oil (144 million barrels net to 88E) across multiple stacked objectives, including the Nanushuk Formation, which is the primary target of the well.
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https://www.rns-pdf.londonstockexchange.com/rns/6101K_1-2018-12-17.pdf
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