Next Investors logo grey

Oil junior Red Emperor secures key drilling permits


Published 17-DEC-2018 12:28 P.M.


2 minute read

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

Oil junior, Red Emperor Resources (ASX:RMP), has revealed that consortium operator, 88 Energy (ASX:88E), has received approval for all major permits needed to commence drilling of the Winx-1 exploration well on the North Slope of Alaska.

These permits include the Plan of Operations and key permits for both the ice road and pad. The Permit to Drill is due for submission (as planned) prior to the end of the year, with approval expected in January 2019 (prior to spud in February).

The Winx prospect is a 3D seismic defined conventional oil prospect in the successful Nanushuk play fairway, containing a gross mean unrisked prospective resource of 400MMbbls (126MMbbls net to RMP) and is adjacent to the Horseshoe 1/1A discovery well drilled by the Armstrong/Repsol JV in 2017.

This is a proven area of high-profile discoveries and prolifically producing projects, including Prudhoe Bay and Kuparuk River, which have produced 15 billion barrels of oil since 1977.

Recent discoveries made by the likes of Armstrong Oil and Gas, Repsol and ConocoPhillips (NYSE:COP) are also confidence-boosting.

Winx-1 is surrounded by majors

RMP managing director, Greg Bandy, commented on the permit approval: “Granting of these major permits ahead of schedule has bought us one significant step closer to drilling the much anticipated Winx-1 exploration well in Q1 2019.

“Thanks must go to the operations team at 88 Energy, who have once again shown their ability to efficiently manage this JV, and we look forward to updating the market with more detailed aspects of the operations over the coming weeks.”

The main objective of the Winx-1 well is the Nanushuk Topset play, targeting the Nanushuk 4 and 5 sands.

The Winx prospect has been identified using the Nanuq South 3D, which covers the Horseshoe discovery plus a large swathe of the Western Blocks. Similar amplitude response has been observed at the Winx prospect, as seen at Horseshoe.

Source: 88E

More about Red Emperor Resources

Red Emperor Resources is a natural resource exploration company with oil and gas interests on the Alaska North Slope and in South East Asia.


The company has executed definitive agreements with its consortium partners, 88 Energy and Otto Energy, that will see it participate in the drilling of a highly prospective Nanushuk oil trend exploration well on the Alaska North Slope in early 2019.

The drill target is immediately adjacent to and a direct analogue of the Horseshoe – 1/1A oil well drilled in 2017. Horseshoe is part of the billion-barrel-plus Nanushuk oil play-fairway, one of the largest conventional oil fields discovered in the US in more than 30 years.

Some technical work on the Western Blocks has identified a gross best estimate prospective resource volume of 400MMbbls (126 MMbbls net to RMP), and a geological chance of success of 25-35%.

Interest breakdown for Winx prospect

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.