Falcon Oil & Gas completes successful drilling operations in Australia

(WO) — Falcon Oil & Gas Ltd. announced that drilling operations, including casing and cementing, at the Amungee NW-2H (“A2H”) well have been successfully completed.

The A2H well has been drilled to a total depth of 3,883 m, including a 1,275 m horizontal section within the Amungee Member B Shale in the Beetaloo Sub-Basin, Northern Territory, Australia with Tamboran Pty Limited.

The A2H well intersected the Amungee Member B Shale at 2,413 m vertical depth. Preliminary drilling data confirms a high concentration of methane.

Drilling was completed in 38 days and had a total cost of A$14.1 million (US$9.48 million) slightly ahead of pre-drill design days and budget. Falcon remains fully carried for the cost of these operations.

Up to 24 stimulation stages are planned within the Amungee Member B Shale when operations are expected to resume in the first quarter of 2023.

Stimulation and flow testing of the A2H well over the 1,275 m horizontal section will enhance the joint venture’s understanding of the potential commerciality of the Amungee Member B Shale.

The joint venture is currently undertaking a comprehensive review of all available data before finalizing the location of the final well under the Stage 3 work program, targeted to be drilled in 2023.