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Falcon Oil & Gas delighted as Kyalla well’s horizontal drilling is successfully completed

More than 1,500 metres of lateral drilling was completed in the Kyalla shale formation

Falcon Oil & Gas Ltd - Falcon Oil & Gas delighted as Kyalla well’s horizontal drilling is successfully completed

Falcon Oil & Gas Ltd (LON:FOG) (CVE:FO) has told investors that drilling operations have been successfully completed for the Kyalla 117 N2-1H ST2 horizontal well at the Beetaloo shale project in Australia.

The well was drilled to a total of 3,809 metres, including a 1,579 lateral in the Lower Kyalla formation.

“We are delighted to have successfully completed the Kyalla horizontal well section and we now look forward to the next phase of operations with the fracture stimulation of Kyalla 117 N2-1H ST2,” Philip O’Quigley, Falcon chief executive said in a statement.

“We will continue to update the market as results become available,” he added.

The joint venture continues its in-depth shale evaluation programme, the company said, with technical data available from conventional cores, sidewall cores, DFITs and extensive wireline logging to provide further understanding of the Kyalla formation.

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Price: 7.6 GBX

AIM:FOG
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Market Cap: £74.62 m
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