Business
88 Energy hits oil on North Slope – Energy News Bulletin
Share price rockets on news of potential discovery
On Monday, 88E revealed its logging-while-drilling data showed “multiple potentially hydrocarbon-bearing zones” within its Merlin-1 well.
Merlin-1 is targeting a 645 million barrel of oil gross prospective resource. Managing director David Wall has been bullish that success at Merlin-1 could yield about 300 million barrels of oil net to 88E.
Oil shows were recorded over multiple intervals in the Nanushuk formation – across all primary targets. One prospect also showed “substantially elevated”…
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