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Falcon Preps to Begin Beetaloo Basin Drilling; IDs Well Plans
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Falcon Oil & Gas Ltd. reported the following operational update for its operations in Australia, South Africa and Hungary.
Operational Highlights: Preparations for 2016 Beetaloo Basin, Australia, drilling programme at an advanced stage. Drilling locations being finalised for the two new vertical wells following technical evaluation undertaken by Origin, Sasol and Falcon. Well locations to penetrate condensate rich gas mature through to dry gas mature sections of the Middle Velkerri shale. Drilling expected to start Q2, 2016. Rig 185 remains "warm stacked" in the Beetaloo basin. Tendering and contracting for hydraulic stimulation and key well services ongoing. Financial Highlights: US$3.7 million cash settlement agreed with NIS - received in December 2015. US$12.7 million (unaudited) in…- ✓ Full news archive — U.S., Canada & international coverage
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