Falcon Oil & Gas Ltd. (TSXV: FO, AIM: FOG) is pleased to announce that the Shenandoah South 2H sidetrack (“SS2H ST1”) well has been cased and suspended at a total measured depth of 16,182 feet (4,932 metres) in the Beetaloo Sub-basin, Northern Territory, Australia. This includes a 5,906-foot (1,800-metre) horizontal section within the Amungee Member B-Shale, of which ~5,577 feet (1,700 metres) is planned to be stimulated with Falcon Oil & Gas Australia Limited’s (“Falcon Australia”) joint venture partner, Tamboran (B2) Pty Limited (“Tamboran B2”).
The decision to case and suspend SS2H ST1 comes following consultation with Tamboran B2 on the failure of a directional drilling tool while drilling the horizontal section. This decision avoids additional rig costs and will enable the immediate drilling of the Shenandoah South 3H (“SS3H”) well from the same well pad, which is planned to be drilled with a 10,000-foot (3,000 metre) horizontal section in the Amungee member B-Shale.
Following the drilling of the SS3H well, Liberty Energy will complete the stimulation of the SS2H ST1 and SS3H wells with 34 and 60 stages planned at the respective wells. Stimulation of both wells is expected to commence in Q1 2025 with 30 day initial production flow rates expected in the same period.
The successful stimulation of SS2H ST1 will create a drilling spacing unit of 20,480 acres.
Falcon Australia will continue its participation in both wells in the Shenandoah South Pilot Project at its elected participating interest of 5%.
Philip O’Quigley, CEO of Falcon commented:
“We look forward to updating the market over the coming weeks as we continue with these drilling operations in the Beetaloo ”
Ends.
CONTACT DETAILS:
| Falcon Oil & Gas Ltd. | +353 1 676 8702 |
| Philip O’Quigley, CEO | +353 87 814 7042 |
| Anne Flynn, CFO | +353 1 676 9162 |
About Falcon Oil & Gas Ltd.
Falcon Oil & Gas Ltd is an international oil & gas company engaged in the exploration and development of unconventional oil and gas assets, with the current portfolio focused in Australia. Falcon Oil & Gas Ltd is incorporated in British Columbia, Canada and headquartered in Dublin, Ireland.
Falcon Oil & Gas Australia Limited is a c. 98% subsidiary of Falcon Oil & Gas Ltd.
For further information on Falcon Oil & Gas Ltd. Please visit www.falconoilandgas.com
About Beetaloo Joint Venture (EP 76, 98 and 117)
| Company | Interest |
| Falcon Oil & Gas Australia Limited (Falcon Australia) | 22.5% |
| Tamboran (B2) Pty Limited | 77.5% |
| Total | 100.0% |
Shenandoah South Pilot Project -2 Drilling Space Units – 46,080 acres1
| Company | Interest |
| Falcon Oil & Gas Australia Limited (Falcon Australia) | 5.0% |
| Tamboran (B2) Pty Limited | 95.0% |
| Total | 100.0% |
1Subject to the completion of the SS2H and SS3H wells on the Shenandoah South pad 2.
