Clontarf Energy plc (AIM: CLON), is pleased to provide the following operational update on the drilling of the Sasanof-1 exploration well, and will issue further updates upon the completion of campaign milestones:
· The Valaris MS-1 rig has arrived at the Sasanof-1 exploration well location on the Australian North West Shelf.
· The MS-1 semi-submersible drilling rig completed the 190 Nautical Miles mobilisation safely and efficiently under tow from the support vessel, GO Spica.
· While under tow, the support vessel, Far Senator, continued logistical support operations, mobilising drilling mud, bulk equipment and supplies from the Port of Dampier.
· Primary anchors are now being run and will be followed by deployment of secondary and tertiary anchors; a total of 12 anchors will be set.
· Once anchoring is complete, spudding of the prospective Sasanof-1 well, targeting multi Tcf (Trillion Cubic Feet) of gas , will start with jetting of the 36″ conductor.
· This will be followed by drilling the 17-1/2″ intermediate hole section.
The Sasanof Prospect covers circa 400 km2 and is on trend, and up-dip of the liquids rich, low CO2 Mentorc Field.
ERC Equipoise Ltd (“ERCE”) estimates the Sasanof Prospect to contain a 2U Prospective Resource of 7.2 Tcf gas and 176 Million barrels (bbls) condensate (P50), with a high case 3U Prospective Resource estimate of 17.8 Tcf gas and 449 Million bbls condensate (P10). The Sasanof undiscovered resources figures in this announcement are based on an Independent Assessment of Hydrocarbon Volumes for the Sasanof Prospect, Western Australia completed by ERCE in August 2021.
Sasanof is a large, seismic amplitude supported, structural-stratigraphic trap in the high-quality reservoir sands at the top of the Cretaceous Lower Barrow Group formation on the Barrow Delta within the Exmouth Plateau.
The overall “Equus Gas Project” area has a historic exploration drilling success rate of 88%, with 15 discoveries from 17 wells.
Western Gas (519P) Pty Ltd” is the holding company for the Sasanof prospect, with the following working interests:
· Clontarf Energy Plc (AIM: CLON) – 10%
· Western Gas (Operator) – 52.5%
· Global Oil and Gas (ASX:GLV) – 25%
· Prominence Energy (ASX:PRM) – 12.5%
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.
For further information please visit http://clontarfenergy.com or contact:
David Horgan, Chairman
John Teeling, Director
+353 (0) 1 833 2833
If anyone reads this article found it useful, helpful? Then please subscribe www.share-talk.com or follow SHARE TALK on our Twitter page for future updates.
Terms of Website Use
All information is provided on an as-is basis. Where we allow Bloggers to publish articles on our platform please note these are not our opinions or views and we have no affiliation with the companies mentioned