VALARIS MS-1 PREPARING TO MOVE TO DRILL LOCATION
Clontarf Energy plc (AIM: CLON), can update shareholders on drilling of the Sasanof-1 exploration well and will issue further updates upon the completion of campaign milestones:
• Valaris MS-1 rig is anchored in the Dampier outer harbour (North Western Australia) and is scheduled to commence tow to the Sasanof-1 location on 16 May 2022.
• The Operator’s (Western Gas) drilling operations team have been deployed to the field and are now on board the MS-1 rig undertaking pre-mobilisation checks.
• Drilling support vessels started logistical operations as scheduled on 9 May 2022, with the transport and loading of drilling equipment and bulk materials to the MS-1 rig.
• More than 800m of 18-3/4″ marine riser for deploying the Blow Out Preventer (BOP) is being transported to the rig in preparation of deployment at the Sasanof-1 location (water depth of 1,070m).
• Drilling operations are expected to start on 24 May 2022.
ABOUT SASANOF
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 gas and 176 Million bbls condensate (P501), with a high case 3U Prospective Resource estimate of 17.8 Tcf gas and 449 Million bbls condensate (P101). 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. Sasanof-1 will be Western Gas’ first well drilled from its extensive exploration portfolio surrounding the existing Equus Gas Project that contains a discovered resource of 2 Tcf and 42 MMbbl (2C Gaffney Cline2). The Equus Gas Project 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 Sasanof and comprises 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.
Ends
For further information please visit http://clontarfenergy.com or contact:
Enquiries:
Clontarf Energy
David Horgan, Chairman
John Teeling, Director
+353 (0) 1 833 2833
