REG - Clontarf Energy PLC - Update on Sasanof-1 well

Clontarf EnergyAnnouncement

12/05/2022 12:00

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RNS Number : 3004L  Clontarf Energy PLC  12 May 2022

12 May 2022

Clontarf Energy plc

("Clontarf" or "the Company")

 

 

Update on Sasanof-1 well

VALARIS MS-1 PREPARING TO MOVE TO DRILL LOCATION

 

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

 

• Valaris MS-1 rig is anchored in the Dampier outer harbour (North Western
Australia) and is scheduled to commence tow to the Sasanof-1 location on 16
May 2022.

 

• The Operator's (Western Gas) drilling operations team have been deployed
to the field and are now on board the MS-1 rig undertaking pre-mobilisation
checks.

 

• Drilling support vessels started logistical operations as scheduled on 9
May 2022, with the transport and loading of drilling equipment and bulk
materials to the MS-1 rig.

 

• More than 800m of 18-3/4" marine riser for deploying the Blow Out
Preventer (BOP) is being transported to the rig in preparation of deployment
at the Sasanof-1 location (water depth of 1,070m).

 

• Drilling operations are expected to start on 24 May 2022.

 

 

ABOUT SASANOF

The Sasanof Prospect covers an area of up to 400 km2 and is on trend and
up-dip of Western Gas' liquids rich, low CO2 Mentorc Field. ERCE estimates the
Sasanof Prospect to contain a 2U Prospective Resource of 7.2 Tcf gas and 176
Million bbls condensate (P501), with a high case 3U Prospective Resource
estimate of 17.8 Tcf gas and 449 Million bbls condensate (P101). 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 Cline2). 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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