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

Clontarf EnergyAnnouncement

23/05/2022 07:00

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RNS Number : 3997M  Clontarf Energy PLC  23 May 2022

 

 

 

23rd May 2022

Clontarf Energy plc

("Clontarf" or "the Company")

 

 

Sasanof-1 well mobilisation update

 

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

·    The Valaris MS-1 rig has arrived at the Sasanof-1 exploration well
location on the Australian North West Shelf.

·    The MS-1 semi-submersible drilling rig completed the 190 Nautical
Miles mobilisation safely and efficiently under tow from the support vessel,
GO Spica.

·    While under tow, the support vessel, Far Senator, continued
logistical support operations, mobilising drilling mud, bulk equipment and
supplies from the Port of Dampier.

·    Primary anchors are now being run and will be followed by deployment
of secondary and tertiary anchors; a total of 12 anchors will be set.

·    Once anchoring is complete, spudding of the prospective Sasanof-1
well, targeting multi Tcf (Trillion Cubic Feet) of gas , will start with
jetting of the 36" conductor.

·    This will be followed by drilling the 17-1/2" intermediate hole
section.

 

ABOUT SASANOF

The Sasanof Prospect covers circa 400 km(2) and is on trend, and up-dip of the
liquids rich, low CO(2) Mentorc Field.

ERC Equipoise Ltd ("ERCE") estimates the Sasanof Prospect to contain a 2U
Prospective Resource of 7.2 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).  The Sasanof undiscovered
resources figures in this announcement are based on an Independent Assessment
of Hydrocarbon Volumes for the Sasanof Prospect, Western Australia completed
by ERCE  in August 2021.

Sasanof is a large, seismic amplitude supported, structural-stratigraphic trap
in the high-quality reservoir sands at the top of the Cretaceous Lower Barrow
Group formation on the Barrow Delta within the Exmouth Plateau.

The overall "Equus Gas Project" area 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 the Sasanof prospect,
with 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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