REG - Clontarf Energy PLC - Sasanof-1 well spudding

Clontarf EnergyAnnouncement

27/05/2022 07:00

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RNS Number : 0543N  Clontarf Energy PLC  27 May 2022

 

27th May 2022

Clontarf Energy plc

("Clontarf" or "the Company")

 

 

Sasanof-1 well spudding

 

Clontarf Energy plc (AIM: CLON),is pleased to provide the following
operational update on the drilling of the Sasanof-1 exploration well:

·    Drilling of Sasanof-1 well has now started.

·    The well was spudded with the jetting of the 36" conductor at a water
depth 1,068.3 metres (below mean sea level "BMSL").

·    Drilling is now underway on the 17-1/2" intermediate hole section to
a depth of 2,030m (BMSL), 13-3/8" casing will then be run and cemented.

·    This will be followed by the drilling the 12-1/4" hole section
through the target reservoir section to a total depth of 2,500 metres (BMSL).

The current schedule expects drilling through the target reservoir occurring,
at earliest, between Thursday 2nd and Sunday 5th June.

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 Tcf (Trillion Cubic Feet) of gas and 176 Million barrels of 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.

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%

·    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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