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- 88 Energy (88E) selects the site for the Merlin-2 well after deciding between two other sites east of Merlin-1 at its Alaskan Peregrine Project
- Drilling at Merlin-2 will tap into previously successful targets encountered in Merlin-1 earlier this year
- The production testing program for Merlin-2 has been designed and will be on standby during early well-site operations
- As already announced, the company has selected contractors for the drilling and operations of the site which are expected to begin early next year
- 88 Energy is trading steady at 2.7 cents
88 Energy (88E) has selected a site for the Merlin-2 well after deciding between two other sites east of Merlin-1 at its Alaskan Peregrine Project.
The company confirmed its choice over two other potential sites and said the alternate sites and its Harrier-1 site may be explored in the future.
The drilling at Merlin-2 will begin in February 2022 with plans for a total depth of 8000 feet or 2.4 kilometres and has a target of 652 million barrels of oil.
Drilling at Merlin-2 will tap into the previously successful N18, N19 and N20 targets that were encountered in Merlin-1 which was drilled in March this year to a depth of 5267 feet.
Merlin-2 will target the three oil shafts closer to the shelf break where enhanced reservoir thickness and quality are expected.
The production testing program for the Merlin-2 well was designed and will be on standby during early well-site operations.
The testing is contingent on wireline program results and government approvals. This process was also be subjected to operational, funding and weather considerations.
As stated in previous announcements, the company has already selected contractors for the drilling and operations of the Merlin-2 site.
88 Energy was trading steady at 2.7 cents at 12:31 pm AEDT.
