Red Emperor Resources NL announced that 88 Energy Limited, in its capacity as consortium operator, has advised that Winx-1 intersected all of the pre-drill targets safely and efficiently. Total Depth of 6,800ft was reached on 3 March 2019, with multiple potential pay zones identified in the Nanushuk Formation Topset Play (primary targets) and Torok Formation (secondary targets). A comprehensive wireline logging program is due to commence on 6 March 2019 (AK time) to verify the prospectivity of the zones of interest. This program, including first pass interpretation, is expected to take approximately 10 days to complete. Based on the results of the interpretation, a decision will then be made on whether to proceed with production testing of the most prospective zone within the Nanushuk Formation. The Winx prospect is a 3D seismic defined conventional oil prospect in the successful Nanushuk play fairway with a gross mean unrisked prospective resource of 400 million barrels ("MMbbls") (126MMbbls net to Red Emperor) and is adjacent to the Horseshoe 1/1A discovery well drilled by the Armstrong/Repsol JV in 2017.