Clontarf Energy plc (AIM: CLON), is pleased to provide the following operational update on the drilling of the Sasanof-1 exploration well :
· Drilling of Sasanof-1 well has now started.
· The well was spudded with the jetting of the 36″ conductor at a water depth 1,068.3 metres (below mean sea level “BMSL”).
· Drilling is now underway on the 17-1/2″ intermediate hole section to a depth of 2,030m (BMSL), 13-3/8″ casing will then be run and cemented.
· This will be followed by the drilling the 12-1/4″ hole section through the target reservoir section to a total depth of 2,500 metres (BMSL).
The current schedule expects drilling through the target reservoir occurring, at earliest, between Thursday 2nd and Sunday 5th June.
Further updates will be provided upon the completion of campaign milestones.
The Sasanof Prospect covers an area of up to 400 km2 and is on-trend and up-dip of Western Gas’ liquids rich, low CO2 Mentorc Field.
ERCE estimates the Sasanof Prospect to contain a 2U Prospective Resource of 7.2 Tcf (Trillion Cubic Feet) of gas and 176 Million barrels of condensate (P50), with a high case 3U Prospective Resource estimate of 17.8 Tcf gas and 449 Million bbls condensate (P10).
Sasanof is a large, seismic amplitude supported, structural-stratigraphic trap in the high-quality reservoir sands at the top of the Cretaceous top Lower Barrow Group formation on the Barrow Delta within the Exmouth Plateau.
Western Gas (519P) Pty Ltd is the holding company for Sasanof and comprises the following working interests:
· Clontarf Energy Plc (AIM: CLON) – 10%
· Western Gas – 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
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