Philip O’Quigley, CEO of Falcon commented: The spudding of the Kyalla 117 N2-1 appraisal well is an exciting development for Falcon and marks the re-commencement of the drilling programme with our JV partner.
We look forward to updating the market as soon as results become available.
9 October 2019 – Falcon Oil & Gas Ltd. (TSXV: FO, AIM: FOG) is pleased to announce the spudding of the Kyalla 117 N2-1 appraisal well in the Beetaloo Sub-Basin, Australia.
Highlights:
- Kyalla 117 N2-1 is the first well in the Stage 2 drilling programme to target the Kyalla shale liquids rich gas play.
- Located within Exploration Permit 117 approx. 32 kilometres north of the Beetaloo W-1 well.
- A vertical pilot hole will target a total vertical depth of approximately 1,750 metres into the Kyalla Formation.
- A subsequent horizontal section is planned for approximately 1,000 metres that will be drilled, completed, stimulated and production tested in the prospective Kyalla shale reservoir interval.
- Origin Energy B2 Pty Ltd (“Origin”), as Operator, will drill the Kyalla 117 N2-1 well.
- Origin hold a participating interest of 70% and Falcon Oil & Gas Australia Limited hold the other 30% participating interest over the Beetaloo Exploration Permits, 76, 98 and 117.
The principal objectives for the drilling of the Kyalla 117 N2-1 well are to:
- Penetrate the Kyalla Formation to assess hydrocarbon maturity, saturation and reservoir quality.
- Provide further information on the areal distribution of the Kyalla Formation.
- Collect data for subsequent horizontal drilling, completion, stimulation and production testing; including ability to flow liquids rich gas.
Formation evaluation, including reservoir characterisation, will be carried out through petrophysical interpretation, geo-mechanical studies and core analysis.
