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Falcon Oil & Gas Ltd. - Spudding of Amungee 2H Development Well in Exploration Permit 9810.11.2022 | 8:00 Uhr | GlobeNewswire
Falcon Oil & Gas Ltd. Spudding of Amungee 2H Development Well in Exploration Permit 98 10 November 2022 - Falcon Oil & Gas Ltd. (TSXV: FO, AIM: FOG) is pleased to announce the spudding of the Amungee 2H development well ("A2H") with the Silver City Rig 40 on 10 November 2022 on EP 98 in the Beetaloo Sub-Basin, Northern Territory, Australia with Falcon Oil & Gas Australia Limited's joint venture partner, Tamboran (B1) Pty Limited ("Tamboran B1"). Tamboran B1 is a 50:50 joint venture partnership between Daly Waters Energy, LP and Tamboran Resources Limited ("Tamboran"), with Tamboran appointed as operator across the exploration permits. Tamboran will drill the vertical and build section to a depth of approximately 2,450 metres, followed by the drilling of a 1,000 metre horizontal section within the primary target of the Amungee Member B Shale (formerly known as the Middle Velkerri B-shale). Following drilling, the A2H well is expected to commence a hydraulic fracture stimulation programme with a US style unconventional shale design. The well is designed with 5-? inch casing to allow for effective placement of proppant into the formation, optimizing completion efficiency. This is the first of two horizontal wells in the Stage 3 programme to be drilled during this current drilling campaign. The precise location of the second horizontal well, also targeting the Amungee Member B shale is currently being evaluated, and an update will be provided in due course. Philip O'Quigley, Falcon's CEO, commented: "The spudding of the A2H development well is an exciting first step for the planned two horizontal wells of the Stage 3 work programme with our new JV partner, Tamboran B1. This follows a successful production log test in September last year at Amungee NW-1H which suggested normalised gas flow rate equivalent to around 5,000 Mscf/d per 1,000 metres of horizontal section. Obtaining production rates over the first 30 days between 2,000-3,000 Mscf/d on the Stage 3 wells will support the JV moving to a multi-well pilot development program in 2023/2024. Falcon remains fully carried for the drilling and fracture stimulation of the A2H well." Ends. CONTACT DETAILS:
This announcement has been reviewed by Dr. G?bor Bada, Falcon Oil & Gas Ltd.'s Head of Technical Operations. Dr. Bada obtained his geology degree at the E?tv?s L. University in Budapest, Hungary and his PhD at the Vrije Universiteit Amsterdam, the Netherlands. He is a member of AAPG. About Falcon Oil & Gas Ltd. 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 Tamboran (B1) Pty Limited Tamboran Resources Limited, is a natural gas company listed on the ASX (TBN) and U.S. OTC markets (TBNNY). Tamboran is focused on playing a constructive role in the global energy transition towards a lower carbon future, by developing the significant low CO2 gas resource within the Beetaloo Basin through cutting-edge drilling and completion design technology as well as management's experience that in successfully commercialising unconventional shale in North America. Bryan Sheffield of Daly Waters Energy, LP is a highly successful investor and has made significant returns in the US unconventional energy sector in the past. He was Founder of Parsley Energy Inc. ("PE"), an independent unconventional oil and gas producer in the Permian Basin, Texas and previously served as its Chairman and CEO. PE was acquired for over US$7 billion by Pioneer Natural Resources Company ("Pioneer"), itself a leading independent oil and gas company and with the PE acquisition became a Permian pure play company. Pioneer has a current market capitalisation of c. US$60 billion. Glossary of terms
Advisory regarding forward looking statements Readers are cautioned that the foregoing list of important factors is not exhaustive and that these factors and risks are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. Falcon assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to Falcon. Additional information identifying risks and uncertainties is contained in Falcon's filings with the Canadian securities regulators, which filings are available at www.sedar.com, including under "Risk Factors" in the Annual Information Form. Advisory regarding oil and gas information Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Dieser Artikel stammt von Rohstoff-Welt.de
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