Falcon Oil JV completes drilling Kyalla 117 well

2020-02-20 07:41 ET - News Release

Mr. Philip O'Quigley reports

FALCON OIL & GAS LTD. ("FALCON") SUCCESSFUL DRILLING OF KYALLA 117 N2-1H ST2 HORIZONTAL WELL

Drilling operations, including casing and cementing, on Falcon Oil & Gas Ltd.'s Kyalla 117 N2-1H ST2 well have been successfully completed.

The well has been drilled to a total measured depth of 3,809 metres, including a 1,579 metre lateral section (from 90 degrees) in the Lower Kyalla Formation. Preparatory work, including the drilling of water impact monitoring bores - a new requirement of the Code of Practice for onshore petroleum activities in the NT - will commence in the coming month ahead of the next stage of operations.

The JV will continue its in-depth shale evaluation program of all the technical data gathered from the conventional cores, sidewall cores, DFITs and extensive wireline logging, to build an understanding of the prospectivity of the Kyalla Formation.

Philip O'Quigley, CEO of Falcon commented: "We are delighted to have successfully completed the Kyalla horizontal well section and we now look forward to the next phase of operations with the fracture stimulation of Kyalla 117 N2-1H ST2. We will continue to update the market as results become available." Ends.

This announcement has been reviewed by Dr. Gabor Bada, Falcon Oil & Gas Ltd's Head of Technical Operations. Dr. Bada obtained his geology degree at the Eotvos L. University in Budapest, Hungary and his PhD at the Vrije Universiteit Amsterdam, the Netherlands. He is a member of AAPG.