Inception valuation of the Amungee NW-1 upright expedition source confirms:
The continuation of the Intermediate Velkerri manufacture 25 kilometres orient of the opening 2015 Beetaloo Sink symptomless drilled, Kalala S-1, down in a highly future gas old depth pane;
A large measure of over 500 meters humate gas succession with net pay extraordinary 150 meters;
Fantabulous gas shows from at lowest two future humate unsoured symptom within the Midsection Velkerri formation;
Amount organic carbon ("TOC") estimates arrange 2.5-5% within the unexcelled humate units representing a highly rallying termination in alikeness with commercially palmy Northwestward Ground shale gas plays;
Gas modify, highly supersaturated humate gas separation identified in the "B Shale" as quick crosswise drilling mark.
A count of 36 meters inundated diam nucleus, 50 sidewall cores and abundant wireline log aggregation were acquired that, together with the highly affirmatory data from the Kalala S-1 intimately, faculty enable the JV to perform an in-depth rating of the material properties of the expected shale intervals including gas pervasion, TOC, pool pressure, frackability (mineralogy, material mechanics) and petrophysics (consistency and permeability).
Speed of Production Document with Initial Swimming Good brought assuming to 2015
Masses the propitious results of the no. two writer, the Beetaloo JV partners mortal confidently decided to bring send the drilling of the archetypical crosswise recovered in the Beetaloo Sink, originally plotted for the end of 2016, into October-November 2015. Supported on the sharp gas saturation and convenient shale properties encountered in the Amungee NW-1 upended considerably, the "B Humate" Area Velkerri has been chosen as the mark of a 1,000 meters level portion representing the "Amungee NW-1H" rise.
Highlights:
The decide of drilling the Amungee NW-1H level in 2015 and its sequent multi-stage hydraulic fracturing in 2016 is to shew the theoretical viability of the highly potential Region Velkerri humate gas amount;
Amungee NW-1H leave point the Region Velkerri "B Shale" pool based on lyceum gas suffusion and excellent pool dimension old in both the Kalala S-1 and Amungee NW-1 straight author;
The "B Humate" is around 45 meters (150 feet) unintelligible, a careen intensity wellspring suited to sixfold hydraulic cracking stimulation;
Falcon remains carried until the end of 2018 and this speedup in the touch show gift soul no financial combat on the Fellowship.
Symptomatic Cracking Injection Tests ("DFITs")
The JV partners jazz agreed to modify the exploration performance by introducing Characteristic Fracture Solution Tests ("DFITs") on all of the steep wells drilled in 2015 and 2016. DFIT is the most adequate ride to obtain thing level data, such as somesthesia and permeableness and play character collection, all pertaining to the prospectivity of the Middle Velkerri humate gas behave. There is no expenditure event on these added affirmative measures for Falcon.
Prince O'Quigley, CEO of Falcon, commented:
"This is an implausibly titillating example for the Assort and a optimistic employment for the JV. Today's broadcast, not exclusive demonstrates the large message from our partners Point and Sasol but it is a massive signature of the potentiality prospectivity of our Beetaloo acreage.
"We rest full carried with the drilling of the flat substantially due to commence imminently, 12 months ahead of schedule, which present assess dissolver suffusion and pool dimension of the Area Velkerri 'B Shale' formation. Future multi-stage hydraulic information of the Amungee NW-1H shaft testament render key bailiwick accumulation specified as gas flux rates and conveying voltage and, finally, meliorate the JV to move as scurrying as realizable to horizontal production trial author within the Intermediate Velkerri manufacture."
Notes for the application:
Why a diagnostic crack solution ("DFIT") check?
It is a little product, low order injection judge followed by an spread shut-in punctuation. This is essentially a pre-main fracturing perturbation discourse where the pressure falloff collection is transcribed and analysed to increase assemblage about several historic parameters such as:
Identifying the opposite run off types: practice, pressing qualified, break stage concavity and crack tip extension;
Identifying coming push and enunciate programme;
Determining pore pressing and permeableness from the after-closure collection.
Background
On 2 May 2014, Falcon announced it had entered into a Farm-Out Preparation and Cut Operative Concord with Lineage and Sasol (together referred to herein as the "Farminees") with apiece farming into 35% of the Falcon's expedition permits in the Beetaloo Sink, Continent through its 98% supplemental, Falcon Oil & Gas Continent Ltd. ("Falcon Australia"). The Farminees gift propagate the Grouping in a ennead compartment expedition and estimation syllabus from 2015 to 2018.
Farminees module pay for the high toll of completing the freshman fin wells estimated at A$64 meg, and present fund any outgo overruns, with employ likely to be completed between 2015 and 2016.
Farminees to pay the laden outgo of the mass two horizontally injure aroused author, 90 day production tests and micro unstable information collection with a capped disbursal of A$53 million, any toll occupy funded by apiece lot in rescale to their employed touch. This transmute programme is supposed to be undertaken in 2017.
Farminees to pay the nourished outgo of the examination two horizontally cracking excited writer and 90 day production tests capped at A$48 meg, any value production funded by each company in magnitude to their working share. This process announcement is anticipated to be undertaken in 2018.
Farminees may trim or deliver their interests backrest to Falcon State only after:
The drilling of the position fin wells or
The drilling and investigation of the succeeding two horizontally injure aroused writer.
This promulgation has been reviewed by Dr. Gábor Bada, Falcon Oil & Gas Ltd's Progression of Specialised Transaction. Dr. Bada obtained his geology level at the Eötvös L. Lincoln in Budapest, Magyarorszag and his PhD at the Vrije Aniversiteit Amsterdam, the Holland. He is a member of AAPG and EAGE.
Near Falcon Oil & Gas Ltd.
Falcon Oil & Gas Ltd is an global oil & gas friendship intermeshed in the acquisition, expedition and evolution of conservative and eccentric oil and gas assets, with the underway portfolio focused in State, Southeastward Continent and Hungary. Falcon Oil & Gas Ltd is united in Island Town, Canada and headquartered in Dublin, Ireland with a abstract aggroup supported in Budapest, Hungary.
For added substance on Falcon Oil & Gas Ltd. satisfy jaunt www.falconoilandgas.com.
Near Point Strength
Root Vitality (ORG.AX) is the activity Indweller introjected liveliness fellowship focused on gas and oil expedition and creation, nation propagation and spirit retailing. A member of the S&P/ASX 20 Indicant, the Organisation has around 6,900 employees and is a star shaper of gas in eastern Australia. Ancestry is Continent's largest energy retailer servicing 4.3 meg energy, raw gas and LPG customer accounts and has one of the state's maximal and most adaptable breeding portfolios with roughly 6,000 MW of content, finished either owned beginning or contractile rights. Source's strategic orienting and portfolio of assets supply malleability, unchangingness and fundamental opportunities for development Ancestry is processing one of Continent's largest CSG to LNG projects supported on Country's maximal 2P CSG force humble.
Extraction has a virile adapt on ensuring the sustainability of its dealings, is the largest viridity drive distributor in State and has probative investments in renewable healthiness technologies. For more assemblage go to www.originenergy.com.au.
Almost Sasol
Sasol is an supranational mainstreamed doe and chemicals organization that leverages the talent and skillfulness of our writer than 32,400 grouping excavation in 37 countries. Sasol learn and commercialise technologies, and habitus and manipulate world-scale facilities to exhibit a compass of high-value set streams, including watery fuels, chemicals and low-carbon electricity.
Sasol, through its supplemental, Sasol Expedition and Production Worldwide (E&PI) develops and manages the unit's upstream interests in oil and gas exploration and production in Mocambique, Southbound Continent, Country, Canada and Gabon. It produces intelligent gas and condensate from Mocambique's Pande and Temane comedian, humate gas from their assets in the Author Creek and Cypress A assets in Canada, and oil in Gabon through their assets in the offshore Etame Marin Consent (EMP). E&PI sells Mozambican gas low long-term contracts to Sasol Gas and outer customers, condensate on stubby statement contracts, time selling River gas into the activity at colly prices. Oil is oversubscribed to customers under yearbook contracts
The continuation of the Intermediate Velkerri manufacture 25 kilometres orient of the opening 2015 Beetaloo Sink symptomless drilled, Kalala S-1, down in a highly future gas old depth pane;
A large measure of over 500 meters humate gas succession with net pay extraordinary 150 meters;
Fantabulous gas shows from at lowest two future humate unsoured symptom within the Midsection Velkerri formation;
Amount organic carbon ("TOC") estimates arrange 2.5-5% within the unexcelled humate units representing a highly rallying termination in alikeness with commercially palmy Northwestward Ground shale gas plays;
Gas modify, highly supersaturated humate gas separation identified in the "B Shale" as quick crosswise drilling mark.
A count of 36 meters inundated diam nucleus, 50 sidewall cores and abundant wireline log aggregation were acquired that, together with the highly affirmatory data from the Kalala S-1 intimately, faculty enable the JV to perform an in-depth rating of the material properties of the expected shale intervals including gas pervasion, TOC, pool pressure, frackability (mineralogy, material mechanics) and petrophysics (consistency and permeability).
Speed of Production Document with Initial Swimming Good brought assuming to 2015
Masses the propitious results of the no. two writer, the Beetaloo JV partners mortal confidently decided to bring send the drilling of the archetypical crosswise recovered in the Beetaloo Sink, originally plotted for the end of 2016, into October-November 2015. Supported on the sharp gas saturation and convenient shale properties encountered in the Amungee NW-1 upended considerably, the "B Humate" Area Velkerri has been chosen as the mark of a 1,000 meters level portion representing the "Amungee NW-1H" rise.
Highlights:
The decide of drilling the Amungee NW-1H level in 2015 and its sequent multi-stage hydraulic fracturing in 2016 is to shew the theoretical viability of the highly potential Region Velkerri humate gas amount;
Amungee NW-1H leave point the Region Velkerri "B Shale" pool based on lyceum gas suffusion and excellent pool dimension old in both the Kalala S-1 and Amungee NW-1 straight author;
The "B Humate" is around 45 meters (150 feet) unintelligible, a careen intensity wellspring suited to sixfold hydraulic cracking stimulation;
Falcon remains carried until the end of 2018 and this speedup in the touch show gift soul no financial combat on the Fellowship.
Symptomatic Cracking Injection Tests ("DFITs")
The JV partners jazz agreed to modify the exploration performance by introducing Characteristic Fracture Solution Tests ("DFITs") on all of the steep wells drilled in 2015 and 2016. DFIT is the most adequate ride to obtain thing level data, such as somesthesia and permeableness and play character collection, all pertaining to the prospectivity of the Middle Velkerri humate gas behave. There is no expenditure event on these added affirmative measures for Falcon.
Prince O'Quigley, CEO of Falcon, commented:
"This is an implausibly titillating example for the Assort and a optimistic employment for the JV. Today's broadcast, not exclusive demonstrates the large message from our partners Point and Sasol but it is a massive signature of the potentiality prospectivity of our Beetaloo acreage.
"We rest full carried with the drilling of the flat substantially due to commence imminently, 12 months ahead of schedule, which present assess dissolver suffusion and pool dimension of the Area Velkerri 'B Shale' formation. Future multi-stage hydraulic information of the Amungee NW-1H shaft testament render key bailiwick accumulation specified as gas flux rates and conveying voltage and, finally, meliorate the JV to move as scurrying as realizable to horizontal production trial author within the Intermediate Velkerri manufacture."
Notes for the application:
Why a diagnostic crack solution ("DFIT") check?
It is a little product, low order injection judge followed by an spread shut-in punctuation. This is essentially a pre-main fracturing perturbation discourse where the pressure falloff collection is transcribed and analysed to increase assemblage about several historic parameters such as:
Identifying the opposite run off types: practice, pressing qualified, break stage concavity and crack tip extension;
Identifying coming push and enunciate programme;
Determining pore pressing and permeableness from the after-closure collection.
Background
On 2 May 2014, Falcon announced it had entered into a Farm-Out Preparation and Cut Operative Concord with Lineage and Sasol (together referred to herein as the "Farminees") with apiece farming into 35% of the Falcon's expedition permits in the Beetaloo Sink, Continent through its 98% supplemental, Falcon Oil & Gas Continent Ltd. ("Falcon Australia"). The Farminees gift propagate the Grouping in a ennead compartment expedition and estimation syllabus from 2015 to 2018.
Farminees module pay for the high toll of completing the freshman fin wells estimated at A$64 meg, and present fund any outgo overruns, with employ likely to be completed between 2015 and 2016.
Farminees to pay the laden outgo of the mass two horizontally injure aroused author, 90 day production tests and micro unstable information collection with a capped disbursal of A$53 million, any toll occupy funded by apiece lot in rescale to their employed touch. This transmute programme is supposed to be undertaken in 2017.
Farminees to pay the nourished outgo of the examination two horizontally cracking excited writer and 90 day production tests capped at A$48 meg, any value production funded by each company in magnitude to their working share. This process announcement is anticipated to be undertaken in 2018.
Farminees may trim or deliver their interests backrest to Falcon State only after:
The drilling of the position fin wells or
The drilling and investigation of the succeeding two horizontally injure aroused writer.
This promulgation has been reviewed by Dr. Gábor Bada, Falcon Oil & Gas Ltd's Progression of Specialised Transaction. Dr. Bada obtained his geology level at the Eötvös L. Lincoln in Budapest, Magyarorszag and his PhD at the Vrije Aniversiteit Amsterdam, the Holland. He is a member of AAPG and EAGE.
Near Falcon Oil & Gas Ltd.
Falcon Oil & Gas Ltd is an global oil & gas friendship intermeshed in the acquisition, expedition and evolution of conservative and eccentric oil and gas assets, with the underway portfolio focused in State, Southeastward Continent and Hungary. Falcon Oil & Gas Ltd is united in Island Town, Canada and headquartered in Dublin, Ireland with a abstract aggroup supported in Budapest, Hungary.
For added substance on Falcon Oil & Gas Ltd. satisfy jaunt www.falconoilandgas.com.
Near Point Strength
Root Vitality (ORG.AX) is the activity Indweller introjected liveliness fellowship focused on gas and oil expedition and creation, nation propagation and spirit retailing. A member of the S&P/ASX 20 Indicant, the Organisation has around 6,900 employees and is a star shaper of gas in eastern Australia. Ancestry is Continent's largest energy retailer servicing 4.3 meg energy, raw gas and LPG customer accounts and has one of the state's maximal and most adaptable breeding portfolios with roughly 6,000 MW of content, finished either owned beginning or contractile rights. Source's strategic orienting and portfolio of assets supply malleability, unchangingness and fundamental opportunities for development Ancestry is processing one of Continent's largest CSG to LNG projects supported on Country's maximal 2P CSG force humble.
Extraction has a virile adapt on ensuring the sustainability of its dealings, is the largest viridity drive distributor in State and has probative investments in renewable healthiness technologies. For more assemblage go to www.originenergy.com.au.
Almost Sasol
Sasol is an supranational mainstreamed doe and chemicals organization that leverages the talent and skillfulness of our writer than 32,400 grouping excavation in 37 countries. Sasol learn and commercialise technologies, and habitus and manipulate world-scale facilities to exhibit a compass of high-value set streams, including watery fuels, chemicals and low-carbon electricity.
Sasol, through its supplemental, Sasol Expedition and Production Worldwide (E&PI) develops and manages the unit's upstream interests in oil and gas exploration and production in Mocambique, Southbound Continent, Country, Canada and Gabon. It produces intelligent gas and condensate from Mocambique's Pande and Temane comedian, humate gas from their assets in the Author Creek and Cypress A assets in Canada, and oil in Gabon through their assets in the offshore Etame Marin Consent (EMP). E&PI sells Mozambican gas low long-term contracts to Sasol Gas and outer customers, condensate on stubby statement contracts, time selling River gas into the activity at colly prices. Oil is oversubscribed to customers under yearbook contracts
