Project Icewine area A, Central North Slope, appraisal to the 1991 Malguk-1 light oil discovery, TD 3,387m (Kuparuk fm), targets reached + logged, results consistent with Malguk-1 (1991, BP). 7 days of wireline logging underway, Nordic rig 3. Premier funding USD 23 MM of drill costs + has the option to obtain 50% in Areas B + C for USD 15 MM if Charlie successful. 88 Energy (op) would retain 30%, partnered with Burgundy Xploration + Premier.
Charlie-1 (Malguk) appr Project Icewine area A, Central North Slope, appraisal to the 1991 Malguk-1 light oil discovery, TD 3,387m (Kuparuk fm), targets reached + logged, results consistent with Malguk-1 (1991, BP). 7 days of wireline logging underway, Nordic rig 3. Premier funding USD 23 MM of drill costs + has the option to obtain 50% in Areas B + C for USD 15 MM if Charlie successful. 88 Energy (op) would retain 30%, partnered with Burgundy Xploration + Premier.