Falcon Oil pauses Kyalla 117 to find flow restriction

2021-07-20 06:10 ET - News Release

Mr. Philip O'Quigley reports

FALCON OIL & GAS LTD. - 2021 WORK PROGRAMME UPDATE A BEETALOO SUB-BASIN

Falcon Oil & Gas Ltd. has provided an update to the 2021 work program.

As noted in the company's press release on June 22, 2021, operations recommenced at Kyalla 117 N2-1H ST2 in the Beetaloo subbasin, Northern Territory, Australia, with the company's joint venture partner, Origin Energy B2 Pty. Ltd., a wholly owned subsidiary of Origin Energy Ltd.

Activity has focused on the continued cleanup of Kyalla 117 in preparation for extended production testing, using nitrogen to support operations.

This has allowed the Kyalla 117 well to begin flowing again without assistance for intermittent periods; however, production has not been sustained, and there is evidence of a potential downhole flow restriction.

Operations will now be temporarily paused while the cause of the restriction is investigated, the results of which will inform the development of a new go-forward plan for Kyalla 117.

In the meantime, the JV's focus will continue on other elements of the work program. The JV remains on track to drill the Velkerri 76 well and commence a further extended production test at Amungee NW 1H in the coming weeks.

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.

© 2021 Canjex Publishing Ltd. All rights reserved.