Drilling underway at Red Emperor’s Winx-1 well

By Justin Ware. Published at Feb 18, 2019, in Energy

Drilling of the Winx-1 exploration well located on the prolific Western Blocks, North Slope of Alaska has commenced.

Red Emperor Resources' (ASX:RMP) announced today that 88 Energy Limited(ASX/AIM: 88E), in its capacity as consortium operator, commenced drilling via Nordic Rig#3 at 15:15 Alaska time on 15 February –on schedule

Nordic Rig#3 is drilling ahead at 880’.

The forward plan is to deepen the hole to ~2,500’ before setting surface casing.

The well was drilled to 600ft prior to pulling out of the hole, this was done to pick up the smart bottom hole assembly.

RMP will continue to supply regular updates through the drilling operations.

More info about the Winx-1 exploration work

As previously noted, drilling and testing of Winx-1 (in a success case scenario), is scheduled to take approximately 50 days.

The Winx prospect is a 3D seismic defined conventional oil prospect in the successful Nanushuk play fairway, with a gross mean unrisked prospective resource of 400 million barrels. It is adjacent to the Horseshoe 1/1A discovery well drilled by the Armstrong/Repsol JV in 2017.

The primary objective of Winx-1 is the Nanushuk Topset play, targeting the Nanushuk 4 and 5 sands. The Winx prospect has been identified using the Nanuq South 3D data, which covers the third party 2017 Horseshoe discovery plus a large section of the ‘Western Blocks’.

The following map indicates who is playing in this region.

Technical work on the Western Blocks has identified a gross best estimate prospective resource volume of 400 MMbbls (126 MMbbls net to RMP), and a geological chance of success of 25-35%.

About Red Emperor Resources

Red Emperor Resources is a natural resource exploration company which has oil and gas interests on the Alaska North Slope and in South East Asia.

The company has entered into Definitive Agreements with its consortium partners 88 Energy Limited and Otto Energy Limited that will ensure its participation in the ongoing drilling of the highly prospective Nanushuk oil trend on the Alaska North Slope.

Where to invest $1,000 right now

S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.

Conflict of Interest Notice

S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.

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The information contained in this article is current at the finalised date. The information contained in this article is based on sources reasonably considered to be reliable by S3 Consortium Pty Ltd, and available in the public domain. No “insider information” is ever sourced, disclosed or used by S3 Consortium.

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