88 Energy Ltd (AIM:88E, ASX:88E, OTC:EEENF) has been given permission by the US Bureau of Land Management (BLM) for the upcoming Merlin-2 appraisal well, on Alaska’s North Slope.
The Merlin appraisal well is slated to spud in early March, 88 Energy said in a statement.
In Alaska, the Arctic Fox drill rig has been commissioned and mobilisation is underway to the Merlin 2 site. Once underway in March, drilling is expected to take three to four weeks, including wireline logging.
“We look forward with excitement to the drilling of the highly anticipated Merlin-2 appraisal well," said managing director Ashley Gilbert.
Merlin-2 is designed to be 8,000 feet deep and it is targeting some 652mln barrels of oil across three targets (N18, N19 and N20) which were encountered in the first Merlin well.
In Merlin 1, analysis of drill results demonstrated the presence of oil in multiple stacked sequences within the Brookian Nanushuk Formation.