Initial wireline data points to low quantities of non-mobile oil in both the Nanushuk and Torok formations in Winx-1. The well, drilled by a consortium of independent companies (88 Energy, Red Emperor Resources, Otto Energy and Pantheon Resources )
was targeting the Nanushuk play fairway of Alaska’s North Slope and was looking to build on Repsol’s 2017 success at Horseshoe-1. The Repsol well is located four miles to the west of Winx-1 and had extended the Nanushuk play 20 miles to the south of the Pikka Unit.
Preliminary interpretation indicates that oil saturation and fluid mobility in the Nanushuk was negatively impacted by the presence of dispersed clay in the matrix. While this is a known characteristic elsewhere in the Nanushuk, Winx-1 did not benefit from the presence of further high quality oil saturated sandstones as typically seen in successful wells in the play.
The reservoir in the deeper Torok Channel Sequence was better quality than seen in the Nanushuk, however oil saturations were still too low for hydrocarbons to flow. The well has demonstrated the evidence of an active petroleum system and charge, but it is not clear at this stage if there is an effective trapping mechanism at this location. Winx-1 was targeting 400mmbbls in Nanushuk sequences where a similar amplitude response to that seen in Horseshoe-1 was present. The well was highlighted in our ‘Exploration Watch: 2019 exploration wells‘ report and is the first of these wells to be completed (see table). The key risk pre-drill was considered to be seal, as the prospect was relying on a pinch out on the clinoform edge to form an effective seal. While it is yet to be established if a seal is present, the overriding issue here is the lack of good quality reservoir at this location. The estimated gross dry hole cost for Winx-1 was $15m
Source: 88 Energy Ltd, Investor Presentation September 2018
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