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    Falcon wraps up drilling of Velkerri 76 S2-1 in Beetaloo

Summary

The company said the preliminary evaluation of the well was “very encouraging”.

by: Shardul Sharma

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Falcon wraps up drilling of Velkerri 76 S2-1 in Beetaloo

London-listed Falcon Oil & Gas has completed the drilling of the Velkerri 76 S2-1 vertical appraisal well in Australia’s Beetaloo sub-basin, it said on October 15. The preliminary evaluation of the well is “very encouraging”, it added.

Falcon CEO Philip O’Quigley said the results at Velkerri 76, together with the revised normalised gas flow rate equivalent to 5mn ft3/d at Amungee NW-1H announced in September, “is really exciting news for Falcon shareholders as attention shifts to future activity in the Beetaloo.”

“Falcon is in a prime position within the Beetaloo sub-basin with significant areal exposure to the Velkerri shales across a range of maturity windows, as established by the results from the five wells drilled in the work programme to date,” he said. “This further development at Velkerri 76 emphasises the ever growing significance of the Velkerri play.”

Falcon is partnered with Australian explorer Origin Energy in the project.