RE: here comes July22 Jun 2021 08:15
Commencement of the 2021 Work Programme -- Beetaloo Sub-Basin
22 June 2021 - Falcon Oil & Gas Ltd. (TSXV: FO, AIM: FOG) is pleased to announce the commencement of the 2021 work programme, starting with operations at Kyalla 117 N2-1H ST2 ("Kyalla 117") in the Beetaloo Sub-Basin, Northern Territory, Australia with our joint venture partner, Origin Energy B2 Pty Ltd, a wholly owned subsidiary of Origin Energy Limited ("Origin").
On-site operations at Kyalla 117 have begun, with rigging up now complete, and clean-up operations resumed. These operations, if successful, will result in an extended production test ("EPT") being carried out to determine the expected longer-term performance of the well.
Further details on the 2021 work programme, including proposed activity at Velkerri 76 and Amungee NW 1H, are set out below.
Kyalla 117
Kyalla Shale Play Summary
-- Liquids rich gas play, which has only been identified in the joint
venture acreage.
-- Material play fairway > 3,000 km2 with multi TCF potential.
-- Liquids rich play with two prospective stacked targets in the gas window,
and one in the oil window.
Results to date
-- As announced on 19 January 2021, Origin submitted a notification of
discovery and an initial report of discovery to the Northern Territory
Government.
-- Unassisted gas flow rates ranging between 0.4-0.6 MMscf/d were recorded
over seventeen hours, which are preliminary indications of well
performance, and an EPT is required to determine the longer-term
performance of Kyalla 117.
Velkerri 76
Velkerri Shale Play Summary
-- Largest play fairway in the Beetaloo with four prospective stacked
targets.
-- Predominantly dry gas with OGIP > 500+ TCF.
-- Liquids rich gas fairways on basin flanks with multi TCF potential.
-- Multiple successful tests within the dry gas window (Amungee NW 1H,
Tanumbrini1, Shenandoah 1A).
2021 work programme includes:
-- Targeting the Velkerri play along the south-eastern flank of the Beetaloo
Sub-Basin, which is predicted to be in a liquids rich gas window.
-- Drill a vertical pilot well to acquire core, run logs and perform
diagnostic fracture injection test data across the Velkerri.
Amungee NW 1H
Results to date
-- On 22 December 2016 Falcon announced that, following a 57-day EPT of the
well, production averaged 1.10 MMscf/d.
-- On 15 February 2017 Falcon announced that Origin had submitted the
Results of Evaluation of the Discovery and Preliminary Estimate of
Petroleum in Place for the Amungee NW-1H Velkerri B Shale Gas Pool to the
Northern Territory Government amounting to a gross contingent resource of
6.6 TCF, 1.46 TCF net to Falcon.
cont
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