88 Energy Ltd (AIM:88E, ASX:88E, OTC:EEENF) has told investors that its Merlin-2 appraisal well remains on-track for spud, next week.
The company, in a stock market statement, said that the mobilisation of the Arctic Fox rig to the Merlin-2 appraisal well drilling location is now complete. On-site, pre-spud operations are continuing and now entering the final phase, it added.
Merlin-2 will be drilled down to a target depth of 8,000 feet and it is intended to be flow tested, subject to results.
"We are now entering the final phase of pre-spud preparations and look forward with excitement to the next few weeks of drilling operations,” said chief executive Ashley Gilbert.
“Success at Merlin-2 has the clear potential to be transformational for our shareholders and we look forward to providing updates as the drilling of this appraisal well progresses."