You probably heard (or read) that a planet has been detected around Proxima (a red dwarf) and Proxima B close enough and earth sized that it can enjoy surface water. Nevermind the heavy x-rays its being bombarded with...we can send an unmanned probe ship to examine the planet.
There are indications of other planets in the Proxima System so the prospect of some planet on the edge of the solar system where we can establish an observatory are improving.
They now think that Proxima B is an ocean world. An ocean 124 miles deep around an iron core, receiving 0.2% of the light we get from our own Sun yet 2000 times the x-ray dose. First off what they will realize is with an ocean depth of a hundred and twenty four miles the pressure increases to the 2.3 gigapascal range. Sufficient for the formation of Oxygen4 (solid oxygen). Oxygen is a diamagnetic so solid oxygen will migrate to the core. With electromagnetic fields applied by the star the planet will have a very strong magnetic field.
It also means It can be a Super-ocean. It will be much larger than earth with a solid oxygen core. The larger size and subsequent depth of ocean means Oxygen8 as opposed to Oxygen4. So Red Dwarf stars are condusive to Super-oceans.
And Electromagnetic fields means increased chance of supporting life: Oxygen based life forms are going to be very different from Carbon Based Life. They will need to exist at great depths and Pressure. They probably wont be very complex and it will definatly not be like anything you know.
Life near the surface will be from cometary introduced organisms. Space Bacteria. Without vast mineral resources to build on it wont flourish.