The Company is pleased to announce that Western Gas Corporation Pty Ltd ("WGC") and has secured funding commitments for the remaining 25% of the Sasanof-1 well.


WGC will provide this funding to Western Gas (519 P) Pty Ltd (the holding company for Sasanof) to maintain its working interest at 62.5%. Together with the existing committed funding from Global Oil & Gas Ltd (ASX:GLV) (50%) and Prominence Energy Limited (ASX:PRM) (25%), the drilling program is now fully funded.


Highlights

• Western Gas Corporation Pty Ltd ("WGC") has secured funding commitments for the remaining 25% of the Sasanof-1 well

• All major service and supply contracts now awarded

• Rig Mobilisation commencing end of April and Spudding of Sasanof-1 set for early May 2022


Rig Mobilisation and Spudding

Western Gas and Valaris, the owner and operator of the MS-1 semi-submersible drill rig, are progressing plans for the mobilisation of the rig to commence drilling of Sasanof-1 in early May.


Click here for the full ASX release


This article includes content from Global Oil & Gas Ltd, 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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