Red Emperor releases additional results from Winx-1 well
Hey! Looks like you have stumbled on the section of our website where we have archived articles from our old business model.
In 2019 the original founding team returned to run Next Investors, we changed our business model to only write about stocks we carefully research and are invested in for the long term.
The below articles were written under our previous business model. We have kept these articles online here for your reference.
Our new mission is to build a high performing ASX micro cap investment portfolio and share our research, analysis and investment strategy with our readers.
Click Here to View Latest Articles
Red Emperor Resources (ASX:RMP) has provided another strong update from its Winx-1 exploration well, located on the Western Blocks on the north slope of Alaska.
Interim drilling highlights include:
- Primary Nanushuk targets intersected between 4,667ft and 4,901ft
- Upper Nanushuk formation interval (4,460ft to 4,530ft) remains the subject of further ongoing analysis
- The Torok Topset Sequence 4 was intersected at 6,052ft
Winx-1 intersected the primary Nanushuk topset targets between 4,667ft and 4,901ft. Elevated mud gas readings, oil shows and an increase in LWD resistivity were observed in multiple topset features within this primary target interval of the well.
Data obtained by the Joint Venture consortium from a nearby third party Nanushuk well has proven comparable to that observed in Winx-1 over the same topset features, thereby providing early encouragement. These initial observations and interpretations (while encouraging) require further data and analysis for validation.
The previously announced interim drilling results March 1 2019 stemmed from an interval in the Nanushuk Formation above the primary target zone, this interval (4,460ft to 4,530ft) remains the subject of further analysis to determine true potential.
The well successfully intersected the top of the Torok formation at 4,913ft. The Topset Sequence 4 sandstones (secondary target) were encountered at approximately 6,052ft. Elevated mud log gas readings (C1-C5) associated with oil shows an elevated LWD resistivity response were recorded during the drilling of this sequence.
On reaching final Total Depth, RMP intends to run a comprehensive wireline logging program over the zones of interest. Subject to the results of this program the JV will then decide whether to proceed to stimulate and test the most prospective of the Nanushuk primary targets.
The Winx prospect is a 3D seismic defined conventional oil prospect, located in the successful Nanushuk play fairway. It contains a gross mean unrisked prospective resource of 400 million barrels and is adjacent to the Horseshoe 1/1A discovery well drilled by the Armstrong/Repsol JV in 2017.
The Winx prospect was identified using the Nanuq South 3D which covers the third party 2017 Horseshoe discovery.
Similar amplitude response is observed at the Winx prospect to that seen at the successful Horseshoe well location, which is located approximately 6km to the west.
More information about the Winx-1 well exploration program
RMP has entered into Definitive Agreements with its consortium partners 88 Energy Limited (ASX:88E) and Otto Energy to participate in the drilling of the highly prospective Nanushuk oil trend exploration well.
As previously mentioned, 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 25-35% chance of success.
General Information Only
S3 Consortium Pty Ltd (S3, ‘we’, ‘us’, ‘our’) (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 and is for informational purposes only. Any advice is general advice only. Any advice contained in this article does not constitute personal advice and S3 has not taken into consideration your personal objectives, financial situation or needs. Please seek your own independent professional advice before making any financial investment decision. Those persons acting upon information contained in this article do so entirely at their own risk.
Conflicts of Interest Notice
S3 and its associated entities may hold investments in companies featured in its articles, including through being paid in the securities of the companies we provide commentary on. We disclose the securities held in relation to a particular company that we provide commentary on. Refer to our Disclosure Policy for information on our self-imposed trading blackouts, hold conditions and de-risking (sell conditions) which seek to mitigate against any potential conflicts of interest.
Publication Notice and Disclaimer
The information contained in this article is current as at the publication date. At the time of publishing, the information contained in this article is based on sources which are available in the public domain that we consider to be reliable, and our own analysis of those sources. The views of the author may not reflect the views of the AFSL holder. Any decision by you to purchase securities in the companies featured in this article should be done so after you have sought your own independent professional advice regarding this information and made your own inquiries as to the validity of any information in this article.
Any forward-looking statements contained in this article are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results or performance of companies featured to differ materially from those expressed in the statements contained in this article. S3 cannot and does not give any assurance that the results or performance expressed or implied by any forward-looking statements contained in this article will actually occur and readers are cautioned not to put undue reliance on forward-looking statements.
This article may include references to our past investing performance. Past performance is not a reliable indicator of our future investing performance.
