Clontarf Energy PLC Sasanof-1 well drilling update (2194N)

TIDMCLON

RNS Number : 2194N

Clontarf Energy PLC

30 May 2022

30th May 2022

Clontarf Energy plc

("Clontarf" or "the Company")

Sasanof-1 well

Intermediate Section drilled, cased and cemented

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

-- Over last weekend the 17-1/2" hole section was drilled to planned depth at 2072.7 metres true vertical depth below rotary table ( TVDBRT).

-- The geology of the intermediate section was assessed via the Logging While Drilling tools and all Formation tops were in accordance with pre-drill predictions. This illustrates the excellent quality seismic data and demonstrates consistency with the near-by Mentorc-1 and Mentorc-2 discoveries.

   --    13-3/8" casing was run and cemented in accordance with the Well Operations Management Plan. 

-- The next stage of operations has commenced with the rig Blow Out Preventer (BOP) and marine riser being prepared for deployment.

-- This will be followed by drilling operations in the 12-1/4" target hole section through the target reservoir intervals.

We anticipate drilling through the target reservoir section between 2nd and 5th June 2022.

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 Trillion Cubic Feet (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).

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 is our partner 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). 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 - 52.5% (Operator) 
   --    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 or contact:

Enquiries:

 
 Clontarf Energy 
  David Horgan, Chairman 
  John Teeling, Director                  [phone] 
 
 Nominated & Financial Adviser 
  Strand Hanson Limited 
  Rory Murphy 
  Ritchie Balmer                         [phone] 
 
 Broker 
  Novum Securities Limited 
  Colin Rowbury                          [phone] 
 
 Financial PR 
  BlytheRay 
  Tim Blythe/Megan Ray                   [phone] 
 
 Teneo 
  Luke Hogg 
  Alan Tyrrell 
  Ciara Wylie                            + 353 (0) 1 661 4055 
 

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May 30, 2022 03:00 ET (07:00 GMT)