Falcon Oil & Gas Ltd.

(“Falcon”)

Operational Update – Kyalla 117 N2-1H ST2

25 November 2020 – Falcon Oil & Gas Ltd. (TSXV: FO, AIM: FOG) provides an update on exploration activity in the Beetaloo Sub-basin, Northern Territory, Australia following the successful hydraulic stimulation of the Kyalla 117 N2-1H ST2 well (“the Well”).

As announced on 4 November 2020, flowback operations of the fracture stimulation fluid commenced in early October before the Well was shut in and production tubing was successfully installed, with flowback operations recommencing in late October.

The Well continues to flow back fracture stimulation fluid, with some gas shows, however a measureable gas breakthrough that would allow  the commencement of extended production testing to assess the extent of the resource that may be present has yet to occur.

Data collected and analysed to guide ongoing operations is showing greater pressures in the horizontal section of the Well than in the surrounding reservoir, do to the saline content and density of the flowback fluid and the hydrostatic column weight of this fluid in the vertical section. this pressure difference can prevent flow of gas from the reservoir into the fractures and then to surface and it is not unusual in shale plays to observe the salinity and densety of the flowback floid to increase as salt easily migrates from the formation.

Operations are now being planned to re-enter the Well with coiled  tubing and apply nitrogen lift techniques to lower pressures in the Well and assist with achieving and sustaining gas breakthrough that, if successful, will allow extended production testing to commence. This technique not uncommon and was applied to the successful Amungee NW1-1H well in 2016.

The timing of coiled tubing activities and the nitrogen lift are being considered as the wet season approaches, with health, safety, environment and cost consideration in mind. If a decision is made to temporarily shut-in the Well, operations will resume in early 2021.

As is the nature of exploration and appraisal, Falcon and its partner, Origin, are continually responding  to the data gathered through operations to inform ongoing activities.

Other data collected to date remains positive. In particular, core analysis indicates mature hydrocarbons and good permeability (natural pathways for gas to flow) and mud logs indicate liquids rich gas. The fracture stimulation of the well was successful and integrity of the well remains.

Further updates will be provided to the markets as appropriate.

Philip O’Quigley (CEO of Falcon) commented:

“Based on all the technical data gathered from conventional cores, DFIT’s and extensive wireline logging, together with the successful completion of the hydraulic fracture stimulation, we remain optimistic about the potential outcome of the production test. While we have not had a successful flow rate to date, our ongoing goal is that the planned Well activities will support a successful outcome”

Take away:

Do not sell any of your Falcon shares under $10.00

Prior to the 2019-10-09 Falcon announcement The Backroom Boys with other parties of interest suppressed all information from australia, just to get their grubby fingers on your shares.By now, you would think that they would turn over a new leaf and stop manipulating the stock with fake trades.

No, I did not moved or delated any images. Draw your own conclusions.

Many thanks to the BackroomBoys to prove just how badly they yearn to possess your Falcon shares. 

So hold and do not selll any of your shares under $10.00

The heat is on!

Do not sell your shares under $10.00

Falcon Oil & Gas Ltd. - Successful Drilling of Kyalla 117 N2-1H ST2 Horizontal Well

Sooo.. If you Boys want our shares you can start paying $10.00 

Are you suprised ? I don't think you are...  The Wrecking Boys are back!  And they failed again!

Today's designated hitters: Every Tom, Dick and Harry .

Kudos to Falcon's long-term shareholders for not falling for the latest backroom shenanigens.

Red indicates the top backscratching, churning collaborators.

So hold and do not sell any of your shares under $10.00 

Missing images? Apparently the manipulators are back. Many thanks to the BackroomBoys to prove just how badly they yearn to possess your Falcon shares. 

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