24th Nov 2021 21:20
88 Energy Ltd - Alaska-focused oil exploration and appraisal company - Selects location for Merlin-2 well, which is situated east and downdip of Merlin-1. The location is expected to encounter thicker reservoir sections and higher permeability and porosity sands.
The Merlin-2 well appraisal well is planned for a total depth of 8,000 feet, and targeting 652 million barrels of oil. Permitting and planning for the Merlin-2 well remains on track for a scheduled spud in February 2022.
Current stock price: 1.45 pence
Year-to-date change: up sharply from 0.46p
By Dayo Laniyan; [email protected]
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