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

Clontarf EnergyAnnouncement

18/05/2022 07:00

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RNS Number : 8340L  Clontarf Energy PLC  18 May 2022

18 May 2022

Clontarf Energy plc

("Clontarf" or "the Company")

 

 

Sasanof-1 well mobilisation update

 

Clontarf Energy plc (AIM: CLON),provides the following operational update on
the drilling of the Sasanof-1 exploration well and will issue further updates
upon the completion of campaign milestones:

·    Valaris MS-1 rig has started mobilisation activities for departure to
the Sasanof Prospect 200km away on the North West Shelf.

·    Secondary anchors securing the rig at Dampier outer harbour, Western
Australia, have been pulled, and the rig is secured to the GO Spica support
vessel bridle for the tow to the Sasanof-1 exploration well location.

·    Primary anchors will then be recovered by the Far Senator, and the
tow commenced. Transit time is expected to be approximately four days, weather
dependent.

·    All required equipment has been loaded onto the rig for commencement
of drilling.

·    Preliminary preparations for drilling operations are being conducted:

o Mud mat, low pressure wellhead housing and conductors prepared for
deployment.

o 13-3/8" casing stands made up and racked in preparation for deployment on
completion of 17-1/2" hole section.

o Third party services equipment being installed and tested.

·    Drilling operations (conductor jetting) are expected to start during
week starting Monday 23rd May.

 
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 Tcf gas and 176 Million bbls condensate (P50(1)), with a high case 3U
Prospective Resource estimate of 17.8 Tcf gas and 449 Million bbls
condensate (P10(1)).

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 will be 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(2)). 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 (Operator) - 52.5%

·    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

Megan Ray

 Teneo                              +353 (0) 1 661 4055

 Luke Hogg

 Alan Tyrrell

 Ciara Wylie

 

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