Clontarf Regulatory News (CLON)

12 May 2022

Clontarf Energy plc

("Clontarf" or "the Company")

Update on Sasanof-1 well

VALARIS MS-1 PREPARING TO MOVE TO DRILL LOCATION

Clontarf Energy plc (AIM: CLON), can update shareholders on drilling of the Sasanof-1 exploration well and will issue further updates upon the completion of campaign milestones:

• Valaris MS-1 rig is anchored in the Dampier outer harbour (North Western Australia) and is scheduled to commence tow to the Sasanof-1 location on 16 May 2022.

• The Operator's (Western Gas) drilling operations team have been deployed to the field and are now on board the MS-1 rig undertaking pre-mobilisation checks.

• Drilling support vessels started logistical operations as scheduled on 9 May 2022, with the transport and loading of drilling equipment and bulk materials to the MS-1 rig.

• More than 800m of 18-3/4" marine riser for deploying the Blow Out Preventer (BOP) is being transported to the rig in preparation of deployment at the Sasanof-1 location (water depth of 1,070m).

• Drilling operations are expected to start on 24 May 2022.

ABOUT SASANOF 

The Sasanof Prospect covers an area of up to 400 km2 and is on trend and up-dip of Western Gas' liquids rich, low CO2 Mentorc Field. ERCE estimates the Sasanof Prospect to contain a 2U Prospective Resource of 7.2 Tcf gas and 176 Million bbls condensate (P501), with a high case 3U Prospective Resource estimate of 17.8 Tcf gas and 449 Million bbls condensate (P101). Sasanof is a large, seismic amplitude supported, structural-stratigraphic trap in the high-quality reservoir sands at the top of the Cretaceous top Lower Barrow Group formation on the Barrow Delta within the Exmouth Plateau. Sasanof-1 will be Western Gas' first well drilled from its extensive exploration portfolio surrounding the existing Equus Gas Project that contains a discovered resource of 2 Tcf and 42 MMbbl (2C Gaffney Cline2). The Equus Gas Project has a historic exploration drilling success rate of 88%, with 15 discoveries from 17 wells. Western Gas (519P) Pty Ltd is the holding company for Sasanof and comprises the following working interests:

• Clontarf Energy Plc (AIM: CLON) - 10%

• Western Gas (Operator) - 52.5%

• Global Oil and Gas (ASX:GLV) - 25% 

• Prominence Energy (ASX:PRM) - 12.5%

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.

Ends

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