88 Energy (LON:88E) told investors, in a weekly progress update, that drilling operations for the Icewine-1 well have been waylaid as the Kuukpik requires additional repairs.
Repairs are being made to the drawworks system and other ancillary systems, it added.
The well is currently at a depth of 8,773 feet and remains within the Brookian section, an area of conventional prospectivity and a secondary target of the well.
88 Energy said the hole remains in excellent condition, it expects drilling to resume within five days and the programme will stay on budget.
Dave Wall, 88 Energy chief executive, said: “Excellent progress had been made up until the issue with the drawworks and we are now within striking distance of the primary, HRZ target.
“Fortunately, significant time was clawed back prior to the issues and we remain within the budget.”
Wall also highlighted that, prior to the mechanical set-back, the well had observed increased background gas readings, heavier gases and more frequent minor oil shows.
He added: “The presence of the heavy gases does not definitively prove the thermal maturity model but if these had not been present, then it may have indicated that the HRZ was likely over mature at this location.
“This encouragement is only partially offset by the ongoing mechanical issues with the rig. We will keep shareholders informed as to progress on a more regular basis until the issues are resolved and we are back to drilling.”