The company ended the quarter with a healthy cash balance.of A$20mln. 88 Energy Ltd’s (LON:88E) quarterly activities update said the Merlin well is able to be re-entered to drill a side-track that could be flow-tested. It comes after the well provided some evidence of oil but due to equipment failure and poor hole conditions, could not be fully tested. The company earlier this month decided to plug the well as it was now too late in the season to start a testing programme. Multiple potentially hydrocarbon-bearing zones were encountered in the well, which can be re-opened for future programmes.