31st Jan 2019 14:23
LONDON (Alliance News) - Red Emperor Resources NL on Thursday said the ice road construction at its Winx-1 exploration well located in the US state of Alaska is now nearing completion.
Construction of the ice road is now 99% complete, while the ice pad is 95% done, the company said.
Furthermore, the company started operations for the installation of the conductor, with the rig mobilisation being imminent. Winx-1 is now scheduled to spud in mid-February 2019.
Winx-1 is targeting a gross best estimate prospective resource of 400 million barrels of oil.
Red Emperor Resources shares were trading up 5.0% at 4.86 pence each on Thursday.
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