$Rig's Platinum Penny Alerts

[SPARK]

$EEENF .032~ ...is staring down the barrel of a potential oil discovery at its 600-million-barrel prospective oil target being drill tested in the frozen arctic ground of Alaska’s oil-rich North Slope. The company said its Merlin-1 drill hole has intersected multiple reservoir sandstone layers within the target Nanushuk formation, with many layers exhibiting indications of the presence of oil, collectively referred to as “oil shows”.

The market punted 88 Energy hard in March with the ASX, AIM and OTC-listed 88 Energy’s share price hiking from just below a cent a share to a high of 4c a share on the back of its proposal to drill test Merlin -1.

According to the company, the Merlin-1 test well has drilled through multiple reservoir sand layers which appear similar to those which hold the oil at the giant 750-million-barrel Willow oil field, located a relatively short distance from 88 Energy’s Project Peregrine ground.

88 Energy is targeting a gross mean prospective resource of 645 million barrels at Merlin, with its sibling prospect, Harrier, potentially chiming in for another 417 million barrels of gross mean prospective resource in the same Nanushuk target.

https://thewest.com.au/business/public-companies/88-energy-jumps-again-as-market-absorbs-alaskan-oil-shows-c-2471648.amp?__twitter_impression=true