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88 Energy Ltd (EEENF)

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Last Post: 7/29/2021 3:45:55 PM - Followers: 660 - Board type: Free - Posts Today: 62


88 Energy one week from spud at Merlin-1, targeting 645 million barrels

By Trevor Hoey. Published at Mar 2, 2021, in Energy

88 Energy Limited (ASX:88; AIM 88E) has advised that pre-spud operations are now entering the final phase as Rig 111 makes it way to the drilling location for Merlin-1, and that the spud date is now scheduled for next Monday, 8 March.

The Merlin-1 well will initially be drilled to 1,500 feet, then surface casing will be installed and the Blow Out Preventer System tested.

This is expected take approximately one week to execute, after which the well will be deepened through the target horizons in the Nanushuk Formation to a maximum total depth of 6,000 feet.

The Merlin-1 well is scheduled for spud in early March 2021 and is targeting 645 million barrels of gross mean prospective resource.

Logging while drilling and mudlogging will provide initial indications as to the prospectivity of the well during this part of the operation that is expected take three to five days.

A sophisticated wireline logging suite will then be run, including sidewall cores and downhole sampling.

Wireline logging is expected to take five to seven days, and if the results are encouraging, then the well will be completed with casing and a flow test conducted.

The drilling of the second well in the program, Harrier-1, remains subject to permitting, Merlin-1 results and weather/schedule.

Commenting on progress and outlining what may lie ahead following Merlin-1, managing director Dave Wall said, “Pre-spud operations are now entering the final phase as Rig 111 makes it way to the drilling location for Merlin-1.

"Success at Merlin-1 could yield over 300 million barrels net to 88E and open up further prospectivity at Project Peregrine (see above), in addition to unlocking the substantial proven resource at the adjacent Umiat oil field, which is 100% owned by 88 Energy.

"Metrics for discovered oil were demonstrated by the late-2017 Oil Search (ASX:OSH) transaction where US$3.10 per barrel was paid in a low oil price environment for an interest in the Pikka Field, a discovery in the Nanushuk Formation.

"Success at Merlin-1 would be transformational for our shareholders and we look forward to providing further information on operations over the next 4 to 6 weeks.’’



This section maintained by Pro-Life:

88 Energy trades on 3 global platforms:
Australian Stock Exchange (ASX), London Stock Exchange (LSE) and otcMarkets:

Check ASX action: https://www2.asx.com.au/markets/company/88e

Check German Boerse action: https://www.boerse-frankfurt.de/equity/88-energy-ltd

Check LSE action: https://www.lse.co.uk/SharePrice.asp?shareprice=88E&share=88-Energy

Check otcMarkets action: https://www.otcmarkets.com/stock/EEENF/quote

Convert AUD to USD or British Pounds to USD: https://www.bankrate.com/calculators/investing/currencycalc.aspx

Lots of 88E coverage:  https://www.nextoilrush.com

Share Structure per the company website: https://www.88energy.com/capital-structure/

Going debt free... the greatest 88E announcement to date - 6.21.2021!!!

Via e-Mail...

88 Energy Limited

Sale of Tax Credits and Full Repayment of Debt


88E Due Diligence Collection from PokeStonksTrainer (@HarisRad88):




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News News Alert: WNRS Flirts With $0.05 50 MA Breakout - Retrace Potential Back To $0.10 High 07/29/2021 01:03:23 PM
#27678  Sticky Note 88 Energy Mission Statement and Company Strategy Announcement Waggs 07/12/21 12:49:42 PM
#27323  Sticky Note $EEENF since April: Now owns 100% of Peregrine CashFlowApe 07/08/21 01:17:45 PM
#19312  Sticky Note CHECK OUT INSIDER MOST RECENT TRANSACTION: powerbattles 04/16/21 02:26:16 PM
#13196  Sticky Note >>>> EEENF INFORMATION >>>> PENNIEStoSTACKS 04/06/21 12:20:24 AM
#6711  Sticky Note For Board Newbies...latest $EEENF news/infos down below HighYieldStocks 03/31/21 08:00:17 AM
#28893   Hey buddy - let’s do another TS*NP kind ranger_7 07/29/21 03:55:10 PM
#28892   https://investorshub.advfn.com/uimage/uploads/2021/7/29/TPQGGVAUVTAMWVKZXBY JACKPOT 07/29/21 03:54:01 PM
#28891   Weeeeeeeeeeeeee!!! $EEENF InvestKid36 07/29/21 03:53:28 PM
#28890   looks like we have some party crashers, happy op9171787 07/29/21 03:52:42 PM
#28889   Oh yeah! Good to see all the familiar mustangowner 07/29/21 03:45:55 PM
#28888   Anyone have some insight as to what is Dodgerdude11 07/29/21 03:45:14 PM
#28887   Nice brother! Everyone is here! ranger_7 07/29/21 03:45:00 PM
#28886   I'm also, got my ticket! Thanks Ranger mustangowner 07/29/21 03:44:31 PM
#28885   EEENF--Thanks, same to you my friend. SPORTYNORTY 07/29/21 03:43:53 PM
#28884   Hey Sporty. Nice to see u here. Now JACKPOT 07/29/21 03:42:42 PM
#28883   .20 sounds good Shark. op9171787 07/29/21 03:40:09 PM
#28882   Looking good here! sch100 07/29/21 03:36:39 PM
#28881   Someone knows something! Could it be they know Tankota 07/29/21 03:32:47 PM
#28880   Let's start flipping every tick. CashValue 07/29/21 03:32:12 PM
#28879   Let’s make some money. ranger_7 07/29/21 03:31:31 PM
#28878   EEENF--Thumbs up my friend. SPORTYNORTY 07/29/21 03:31:09 PM
#28877   EEENF--Thanks my friend. SPORTYNORTY 07/29/21 03:30:45 PM
#28876   I joined you and picked up some as well. ranger_7 07/29/21 03:29:19 PM
#28875   Welcome Sportynorty, getting closer to huge catalyst ahead sharky 07/29/21 03:29:03 PM
#28874   EEENF--Thanks for the heads up my friend. SPORTYNORTY 07/29/21 03:24:40 PM
#28873   Couple big slaps at .0083. tj9938 07/29/21 03:18:12 PM
#28872   EEENF big co. holdings: 1 MERRILL LYNCH (AUSTRALIA) sharky 07/29/21 03:00:59 PM
#28871   EEENF 52 week high .20 sharky 07/29/21 02:53:09 PM
#28870   https://investorshub.advfn.com/uimage/uploads/2021/7/29/TPQGGVAUVTAM.jpg[/i JACKPOT 07/29/21 02:45:46 PM
#28869   30 Years the way this one moves! Alpha611 07/29/21 02:39:27 PM
#28868   Looking forward to .30's :) JACKPOT 07/29/21 02:28:13 PM
#28867   .03's coming closer sharky 07/29/21 02:27:20 PM
#28866   Inching UP JACKPOT 07/29/21 02:22:59 PM
#28865   Need to test the 52 week high.. .20c justinian 07/29/21 02:00:57 PM
#28864   Looking good...let's get back over .03 pinkylady 07/29/21 01:42:34 PM
#28863   Just day traders? Poor bastard 07/29/21 01:33:55 PM
#28862   How do you read that chart, it appears Poor bastard 07/29/21 01:11:26 PM
#28861   None, they may not have even felt it? Poor bastard 07/29/21 01:06:12 PM
#28860   Yes, absolutely zero effect...no effect on infrastructure, no OntarioDude 07/29/21 01:00:53 PM
#28859   EEENF SHORT REPORT PIRAT 07/29/21 11:35:11 AM
#28858   EEENF SHORT REPORT PIRAT 07/29/21 11:34:57 AM
#28857   0.00015 ??? Alpha611 07/29/21 11:16:44 AM
#28856   0.00015 up TRUSTUNITS1000000 07/29/21 11:15:04 AM
#28855   Even if there is naked selling this stock TRUSTUNITS1000000 07/29/21 11:14:48 AM
#28854   When a company has a gold mine a TRUSTUNITS1000000 07/29/21 11:06:14 AM
#28853   The 8.2 earthquake was this morning probably didn’t Luckybstrd 07/29/21 10:46:02 AM
#28852  Restored Natural Fractural of the sediment for gas & oil $PennyMover 07/29/21 10:18:33 AM
#28851   I'd like to see a Buyout Offer so mypenneys 07/29/21 10:17:27 AM
#28850   Good point...let the oil flow our way. ChannelTrader 07/29/21 10:05:20 AM
#28849   That should crack a lot of rock and mypenneys 07/29/21 10:01:30 AM
#28848   Agreed! Could be the big weekend! werd 07/29/21 09:59:23 AM
#28847   Definitely looks like it. ChannelTrader 07/29/21 09:55:33 AM
#28846   No earthquake, no tsunami, no winter cold snap Pro-Life 07/29/21 09:54:43 AM
#28845   Thinking .03 break by weekend IMO sharky 07/29/21 09:53:52 AM
#28844   GM sharky...happy $EEENF thursday. ChannelTrader 07/29/21 09:50:57 AM
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