- Falcon Oil & Gas Ltd. (FO) has provided preliminary petrophysical interpretation and mud gas composition data from the Velkerri 76 S2-1 vertical appraisal well
- In October, Falcon announced drilling of the Velkerri 76 well had been completed and preliminary evaluation of the results had been very encouraging
- The preliminary petrophysical interpretation of the Velkerri 76 wireline logs has now been carried out, which has confirmed positive indications from the B shale of the Amungee Member (formerly known as the Middle Velkerri)
- The Amungee Member B shale was the principal area of focus with Falcon’s operations at Amungee NW-1H and the results obtained to date compare favourably to some of the most commercially successful shale plays in North America
- Falcon Oil & Gas Ltd. (FO) is down 3.70 per cent and is trading at $0.13 per share at 1:36 p.m. ET
Falcon Oil & Gas (FO) has provided preliminary petrophysical interpretation and mud gas composition data from the Velkerri 76 S2-1 vertical appraisal well.
Velkerri 76 is in the Beetaloo Sub-Basin, Northern Territory, Australia and is being worked on with a joint venture partner, Origin Energy B2 Pty Ltd., a subsidiary of Origin Energy Limited.
In October, Falcon announced drilling of the Velkerri 76 well had been completed and preliminary evaluation of the results had been very encouraging.
The preliminary petrophysical interpretation of the Velkerri 76 wireline logs has now been carried out, confirming positive indications from the B shale of the Amungee Member (formerly known as the Middle Velkerri).
Other intervals within the Amungee Member also show positive indications, and further analysis will now be undertaken to confirm these results.
The Amungee Member B shale was the principal area of focus with Falcon’s operations at Amungee NW-1H and the results obtained to date compare favourably to some of the most commercially successful shale plays in North America.
The Amungee Member B shale is also the focus of activities in the neighbouring Santos and Empire Resources operated blocks.
Mud gas composition data also provides evidence that the Amungee Member is within the wet gas maturity window and contains good LPG yields and high heating gas value.
Falcon Oil & Gas Ltd. (FO) is down 3.70 per cent and is trading at $0.13 per share at 1:36 p.m. ET.