Global Oil & Gas Limited provides the following update and review of the Sasanof-1 well campaign, conducted approximately 207 km northwest of Onslow, Western Australia

Highlights

  • The Sasanof-1 exploration well was drilled by the Valaris MS-1 without incident. The rig has demobilised from the well location and departed exploration permit WA-519-P on 12 June 2022
  • The well has been plugged and permanently abandoned, with wellhead infrastructure removed
  • The well was drilled to a total depth of 2390 m on 5 June 2022 and intersected the Lower Barrow Group target sands at a depth of 2252.9m (TVDSS), 3.9m below the prognosed pre-drill prediction
  • A preliminary evaluation indicates 40 m of net sand was encountered. However, the sands contained water and no commercial hydrocarbons were detected
  • Initial technical analysis indicates that the expected western seal of the targeted stratigraphic trap was breached allowing migration of gas out of the Prospect
  • As planned, the well cost under US$25 million with a duration of 25 days

WA-519-P PROSPECTIVITY

WA-519-P remains highly prospective with material leads identified in the proven Lower Barrow Group and Triassic Mungaroo plays and play opening leads in the Jurassic “Perseus” Syn-rift.

The Company and its joint venture participants will continue to review and progress these leads to prospects, including an assessment of data from the Sasanof-1 well, to support future exploration and targeted farmout discussions.

COMMENT – Global Oil & Gas

“While we were disappointed with the geological outcome, we are pleased that Sasanof was drilled on time, on budget and without incident. The Company will retain its 25% interest in the WA-519-P permit and will continue to work with its JV partners in further evaluating the remaining exploration targets within the permit, with a view to commence targeted farm-out discussions”

The Company is also currently advancing a planned exploration program on EP127 and will update shareholders shortly, along with a review of its Canning Basin interests”

Patric Glovac, Executive Director

Authorised by the Board of Global Oil & Gas Limited.

For further information please contact:

Patric Glovac

Director

info@globaloilandgas.com.au


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This article includes content from Global Oil & Gas Limited , licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

GLV:AU

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