Clontarf Energy PLC Sasanof-1 well drilling update (2194N)
30 May 2022 - 5:00PM
UK Regulatory
TIDMCLON
RNS Number : 2194N
Clontarf Energy PLC
30 May 2022
30th May 2022
Clontarf Energy plc
("Clontarf" or "the Company")
Sasanof-1 well
Intermediate Section drilled, cased and cemented
Clontarf Energy plc (AIM: CLON) , is pleased to provide the
following operational update on the drilling of the Sasanof-1
exploration well :
-- Over last weekend the 17-1/2" hole section was drilled to
planned depth at 2072.7 metres true vertical depth below rotary
table ( TVDBRT).
-- The geology of the intermediate section was assessed via the
Logging While Drilling tools and all Formation tops were in
accordance with pre-drill predictions. This illustrates the
excellent quality seismic data and demonstrates consistency with
the near-by Mentorc-1 and Mentorc-2 discoveries.
-- 13-3/8" casing was run and cemented in accordance with the Well Operations Management Plan.
-- The next stage of operations has commenced with the rig Blow
Out Preventer (BOP) and marine riser being prepared for
deployment.
-- This will be followed by drilling operations in the 12-1/4"
target hole section through the target reservoir intervals.
We anticipate drilling through the target reservoir section
between 2nd and 5th June 2022.
Further updates will be provided upon the completion of campaign
milestones.
ABOUT SASANOF
The Sasanof Prospect covers an area of up to 400 km(2) and is on
trend and up-dip of Western Gas' liquids rich, low CO(2) Mentorc
Field.
ERCE estimates the Sasanof Prospect to contain a 2U Prospective
Resource of 7.2 Trillion Cubic Feet (Tcf) gas and 176 Million
barrels (bbls) condensate (P50), with a high case 3U Prospective
Resource estimate of 17.8 Tcf gas and 449 Million bbls condensate
(P10).
Sasanof is a large, seismic amplitude supported,
structural-stratigraphic trap in the high-quality reservoir sands
at the top of the Cretaceous top Lower Barrow Group formation on
the Barrow Delta within the Exmouth Plateau.
Sasanof-1 is our partner Western Gas' first well drilled from
its extensive exploration portfolio surrounding the existing Equus
Gas Project that contains a discovered resource of 2 Tcf and 42
MMbbl (2C Gaffney Cline). The Equus Gas Project has a historic
exploration drilling success rate of 88%, with 15 discoveries from
17 wells.
Western Gas (519P) Pty Ltd is the holding company for Sasanof
and comprises the following working interests:
-- Clontarf Energy Plc (AIM: CLON) - 10%
-- Western Gas - 52.5% (Operator)
-- Global Oil and Gas (ASX:GLV) - 25%
-- Prominence Energy (ASX:PRM) - 12.5%
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) 596/2014.
Ends
For further information please visit http://clontarfenergy.com
or contact:
Enquiries:
Clontarf Energy
David Horgan, Chairman
John Teeling, Director +353 (0) 1 833 2833
Nominated & Financial Adviser
Strand Hanson Limited
Rory Murphy
Ritchie Balmer +44 (0) 20 7409 3494
Broker
Novum Securities Limited
Colin Rowbury +44 (0) 207 399 9400
Financial PR
BlytheRay
Tim Blythe/Megan Ray +44 (0) 207 138 3206
Teneo
Luke Hogg
Alan Tyrrell
Ciara Wylie + 353 (0) 1 661 4055
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END
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