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Falcon Oil & Gas Ltd - Australia, Hungary and South Africa-focused oil and gas company - Announces start of 2024 drilling programme with spudding of Shenandoah South 2H horizontal well in exploration permit 98 Beetaloo Sub-basin in Australia’s Northern Territory. The drilling is alongside Falcon Oil & Gas Australia Ltd’s joint venture partner Tamboran B2 Pty Ltd. Further, Tamboran B2 will move to the Shenandoah South 3H well after SS2H has been drilled. Falcon Oil expects inflow flow test results from both wells in the first quarter of 2025. Falcon Oil Chief Executive Officer Philip O’Quigley says: ‘The spudding of the SS2H horizontal well, which is the first of the planned two horizontal wells to be drilled in 2024, is an exciting next step in the development of the Beetaloo Sub-basin. Following on from the success of the Shenandoah South 1H well announced earlier this year, and using the same drilling company, H&P, together with the arrival of the Liberty frac fleet, capable of materially increasing the stimulation intensity, we are really excited about being able to demonstrate the deliverability of the Amungee Member B-shale over 3,000 metre horizonal sections.’ Current stock price: 5.55 pence per share, closed 5.7% higher on Friday in London 12-month change: down 18% Copyright 2024 Alliance News Ltd. All Rights Reserved.
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