Falcon is a global energy company with projects in Hungary, Australia & South Africa

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Message: Falcon Oil to start fracking Kyalla 117 in Q3 or Q4

2020-08-20 06:02 ET - News Release

 

Mr. Philip O'Quigley reports

FALCON OIL & GAS LTD. - BEETALOO OPERATIONAL UPDATE

Falcon Oil & Gas Ltd. has provided the following operational update on the Beetaloo project in the Northern Territory, Australia.

Kyalla liquids-rich gas play

In February, 2020, the Kyalla 117 N2-1H ST2 well was drilled to a total measured depth of 3,809 metres, which included a 1,579-metre lateral section in the Lower Kyalla formation. Results obtained demonstrated good reservoir continuity, conductive natural fractures and continuous gas shows.

In March, 2020, operations in the Beetaloo basin were paused in response to the COVID-19 pandemic. The Ensign rig was secured and maintained locally, and by mid-May all personnel had left the Kyalla 117 well site.

Subject to COVID-19-related conditions, fracture stimulation of Kyalla 117 is expected to commence in the third quarter or fourth quarter of 2020 with extended production testing of the well to follow. Initial results from the production test are expected during Q4 2020 with final results expected by the end of the first quarter of 2021. These results will inform the decision to either further evaluate this liquids-rich gas play or commence activities in the Velkerri liquids-rich gas play.

Construction of the Velkerri 76 well lease pad was completed in early December, 2019, and environmental approval to drill and fracture stimulate the Velkerri flank well was granted in late December, 2019.

Philip O'Quigley, chief executive officer of Falcon, commented, "We look forward to the next phase of operations with the fracture stimulation of the Kyalla 117 well and will update the market as results become available."

About Falcon Oil & Gas Ltd.

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.

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