REG - Clontarf Energy PLC - Sasanof-1 well drilling update

Clontarf EnergyAnnouncement

30/05/2022 08:15

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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
(http://clontarfenergy.com) or contact:

 

Enquiries:

 

 Clontarf Energy                    +353 (0) 1 833 2833

 David Horgan, Chairman

 John Teeling, Director

 Nominated & Financial Adviser      +44 (0) 20 7409 3494

 Strand Hanson Limited

 Rory Murphy

 Ritchie Balmer

 Broker                                     +44 (0) 207 399 9400

 Novum Securities Limited

 Colin Rowbury

 Financial PR                       +44 (0) 207 138 3206

 BlytheRay

 Tim Blythe/Megan Ray

 Teneo                              +353 (0) 1 661 4055

 Luke Hogg

 Alan Tyrrell

 Ciara Wylie

 

 

 

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