Falcon completes hydraulic stimulation on Beetaloo well

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

Developing large acreage positions of unconventional and conventional oil and gas resources

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solyomtwo

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Falcon completes hydraulic stimulation on Beetaloo well

posted on Oct 02, 2020 08:58AM

2020-10-02 06:27 ET - News Release

Mr. Philip O'Quigley reports

FALCON OIL & GAS LTD. - TECHNICAL UPDATE OF KYALLA 117 N2-1H ST2

Falcon Oil & Gas Ltd. has provided the following technical update on the Beetaloo project in the Beetaloo subbasin, Northern Territory, Australia, regarding the hydraulic stimulation of the horizontal Kyalla 117 N2-1H ST2 well.

Highlights of the preliminary results from the Kyalla 117 well:

The company has completed 11 hydraulic stimulation stages along the 1,579-metre horizontal section in the Lower Kyalla formation.
Stimulation treatments were successfully executed.
Activities have commenced in preparation for the flowback and extended production test.
Early-stage gas flow rates are expected in the coming weeks.

Philip O'Quigley, chief executive officer of Falcon, commented, "We look forward to the next phase of operations with the production testing 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.

We seek Safe Harbor.

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