Falcon Oil & Gas - CEO, Philip O’Quigley.
CEO, Philip O’Quigley.
Source: Falcon Oil & Gas.
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  • Falcon Oil & Gas (FO) announced that drilling operations, including casing and cementing, at the Amungee NW-2H (A2H) well have been completed
  • Drilling was completed in 38 days and had a total cost of A$14.1 million
  • The joint venture is currently reviewing all available data before finalizing the location of the final well under the Stage 3 work programme
  • Falcon Oil & Gas Ltd is an international oil & gas company engaged in the exploration and development of unconventional oil and gas assets
  • Falcon Oil & Gas Ltd. (FO) opened trading at C$0.125

Falcon Oil & Gas (FO) announced that drilling operations, including casing and cementing, at the Amungee NW-2H (A2H) well have been completed.

The A2H well has been drilled to a total depth of 3,883 metres, including a 1,275-metre horizontal section within the Amungee Member B Shale, in the Beetaloo Sub-Basin, Northern Territory, Australia, with Falcon Oil & Gas Australia Limited’s joint venture partner, Tamboran (B1) Pty Limited.

Key points:

  • The A2H well intersected the Amungee Member B Shale at 2,413 metres vertical depth
  • Preliminary drilling data confirms elevated gas shows with a high concentration of methane observed
  • Drilling was completed in 38 days and had a total cost of A$14.1 million, slightly ahead of pre-drill design days and budget. Falcon remains fully carried for the cost of these operations
  • Up to 24 stimulation stages are planned within the Amungee Member B Shale when operations are expected to resume in the first quarter of 2023, subject to weather conditions
  • Stimulation and flow testing of the A2H well over the 1,275-metre horizontal section will enhance the joint venture’s understanding of the potential commerciality of the Amungee Member B Shale
  • The joint venture is currently undertaking a comprehensive review of all available data before finalizing the location of the final well under the Stage 3 work programme, targeted to be drilled in 2023

Philip O’Quigley, Falcon’s CEO, commented on the news.

We are delighted that the joint venture’s new operator, Tamboran Resources Limited, has successfully drilled and cased the Amungee NW-2H well and look forward to the next phase of operations with the fracture stimulation in the New Year and obtaining productions rates that would support the joint venture moving to a multi-well pilot development program in 2023/2024. We will continue to update the market as results become available.

Falcon Oil & Gas Ltd is an international oil & gas company engaged in the exploration and development of unconventional oil and gas assets, with the current portfolio focused in Australia, South Africa and Hungary.

Falcon Oil & Gas Ltd. (FO) opened trading at C$0.125.


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