Falcon Oil & Gas Ltd. (LON:FOG) Kyalla 117 N2-1 – Horizonal Drilling Commenced

10 December 2019 – Falcon Oil & Gas Ltd. (TSXV: FO, AIM: FOG) is pleased to announce that drilling of the horizontal section of the Kyalla 117 N2-1H appraisal well in the Beetaloo Sub-Basin, Australia has commenced, along with the advancement of the vertical well evaluation.

Drilling of the Kyalla 117 N2-1H horizontal well has commenced

  • The JV has elected to land the horizontal well within the Lower Kyalla shale, at a depth of ~1800mTVD.
  • The horizontal section will be drilled for approximately 1,000-2,000 metres.
  • On completion of drilling, the horizontal section will be fracture stimulated and production tested.

Evaluation of the Kyalla 117 N2-1 vertical well advances

  • Three source rock reservoir (“SRR”) sections are identified within the Kyalla Shale Formation, characterised as the Lower, Middle and Upper Kyalla.
  • The thickness of the entire Kyalla Shale Formation measured almost 900 metres.
  • Gross thickness of each SRR interval is between 75 and 125 metres.
  • Each SRR exhibited elevated gas shows with relatively high C3, C4 and C5 components.
  • Diagnostic fracture injection tests (“DFITs”) were performed on each SRR.

Ongoing analysis of conventional cores acquired in each of the Upper and Lower Kyalla reservoir sections, along with sidewall cores, DFITs and extensive wireline logging, will enable a full-scale evaluation of prospectivity of the Kyalla Formation in the central part of the Beetaloo Sub-Basin.

Philip O’Quigley, CEO of Falcon commented:

“Ongoing evaluation of the of the Kyalla 117 N2-1 vertical appraisal well is very encouraging. The drilling of a 1,000-2,000 metre horizontal well in the Lower Kyalla shale has started and we will continue to update the market as soon as more results become available”.

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