88 Energy Ltd (AIM:88E, ASX:88E, OTC:EEENF) is exposed to a potentially transformational ongoing high impact drilling campaign, according to stockbroker Cenkos, which has repeated a ‘buy’ recommendation following the spudding of the Merlin-2 well.
The company, on Tuesday, announced that the Arctic Fox rig had started drilling Merlin-2, part of Project Peregrine, on Alaska’s North Slope.
88 Energy Ltd (AIM:88E, ASX:88E, OTC:EEENF) told investors that the Arctic Fox rig has started drilling the Merlin-2 appraisal well, part of Project Peregrine, on Alaska’s North Slope.
Drilling began on March 7, it said in a statement. The plan is to drill Merlin-2 to a depth of 8,000 feet.
Mosman Oil and Gas Ltd (AIM:MSMN) told investors that its 23%-owned Winters-2 well, in east Texas, has produced at an initial rate of 105 barrels oil equivalent per day (545,000 cubic feet).
New production from Winters-2 is expected to add significantly to the average daily gross production which was 164 boepd in the December 2021 quarter, Mosman noted.
Zephyr Energy Plc told investors it expects to receive the new competent persons report (CPR) for the Paradox project, in Utah, in “the coming weeks”.
The company, in a statement, noted that because of the large scope of the CPR and a significant increase in activity in the North American oil and gas sector, there has been a slight delay to the report.