Falcon Oil & Gas Ltd. indicated Wednesday that the joint venture for Exploration Permits 98, 76 and 117 in the Beetaloo Basin in Northern Territory, Australia is making preparations to drill three wells soon, the company said in its release of full year 2014 results.
Work to prepare for the 2015 Australian three well drilling program in the Beetaloo Basin with partners Origin Energy Ltd. and Sasol Ltd. are at an advanced stage and drilling operations are expected to commence in the middle of this year.
Falcon Oil & Gas said the principal objectives of the 2015 drilling program will enable the joint venture to carry out formation evaluation and reservoir characterization from these initial three wells through petrophysical interpretation, core analysis, geomechanical studies and stimulation design.
Tendering and contracting for the rig and key well services, and recruiting additional project resources are ongoing.
“Operationally it has been a busy twelve months for Falcon, following the execution of our transformational farmout with Origin and Sasol of our Beetaloo permits in Australia, as we work with our partners to progress preparations for our 2015 three well drilling campaign in this highly attractive basin," Philip O’Quigley, CEO of Falcon Oil & Gas said in the press release.
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