Red Emperor Resources has said the Hawkeye-1 exploration well in Palawin Basin in the Philippines has been performing well since being spud at the end of July.
The company said operations had “run smoothly” since the well was spudded on July 31.
The well is located in a deep-water block in the middle of a proven regional oil and gas fairway that extends from the productive offshore Borneo region in the southwest to the offshore Philippine production assets northwest of Palawan.
The company will provide updates on the drilling programme after target depth has been reached.
