- Falcon Oil & Gas (FO) is moving ahead with planned work at the Beetaloo Sub-Basin
- The Beetaloo Sub-Basin is located in Northern Territory, Australia
- The work is with the company’s joint venture partner, Origin Energy B2 Pty Ltd., a wholly owned subsidiary of Origin Energy Limited
- Work is expected to include cleanup, further test drilling and an extended production test
- Falcon Oil & Gas is unchanged, trading at C$0.12 at 9:30 am ET
Falcon Oil & Gas (FO) is moving ahead with planned work at the Beetaloo Sub-Basin.
The Beetaloo Sub-Basin is located in Northern Territory, Australia.
The work is in conjunction with the company’s joint venture partner, Origin Energy B2 Pty Ltd., a wholly owned subsidiary of Origin Energy Limited.
The 2021 work is scheduled to include resumption of reservoir clean-up operations using an artificial lift technique at Kyalla 117 N2-1H ST2.
If that is successful, work will progress to an extended production test (EPT).
Following that, drilling a vertical well at Velkerri 76 S2-1 is expected to take place, 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. Drilling will include a vertical pilot well to acquire core and log and run diagnostic fracture injection test data across the Velkerri.
A production test is also planned for the Amungee NW 1H shale gas pool.
“This year’s programme covering three different plays in the Beetaloo will provide key information that will help determine the future appraisal and development programme. The prospect of multiple positive results is exciting, and we look forward to providing these results as soon as they become available. Falcon is fully carried for the 2021 work programme costs,” said Falcon CEO Philip O’Quigley.
Falcon Oil & Gas is an international oil and 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 is incorporated in British Columbia, Canada and headquartered in Dublin, Ireland with a technical team based in Budapest, Hungary.
Falcon Oil & Gas is unchanged, trading at C$0.12 at 9:30 am ET.
