29th Aug 2018 10:53
LONDON (Alliance News) - 88 Energy Ltd said on Thursday it has secured a rig contract for drilling work at the company's Winx prospect on Alaska's North Slope.
The rig has been contracted from Nordic-Callista Services. It is "fully winterised" for Arctic weather conditions and has previously worked on the North Slope.
88 Energy's Managing Director Dave Wall said: "The execution of a rig contract is an important milestone for the consortium as plans progress to drill the large Winx prospect in the first quarter of 2019."
The announcement was noted by 88 Energy's partner on the North Slope, Red Emperor Resources NL.
Shares in 88 Energy were 0.6% lower at 1.17 pence Wednesday, while Red Emperor shares were down 0.7% at 2.93p.
Related Shares:
88 EnergyRMP.L