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09 Oct 2019 | 13:37

Falcon Oil & Gas and partner start drilling appraisal well in Australia

Falcon Oil & Gas said a venture in which it was involved had started drilling a new appraisal well in the Beetaloo sub-basin in Australia.

The Kyalla 117 N2-1 well was the first in a second-stage drilling programme targeting the Kyalla shale liquids-rich gas play.

A vertical pilot hole would target a total vertical depth of about 1,750 metres into the Kyalla formation.

A subsequent horizontal section was planned for about 1,000 metres.

Australia's Origin Energy was operating of the well and held a 70% interest, with Falcon owning the rest.

At 1:37pm: (LON:FOG) Falcon Oil Gas share price was +0.73p at 13.53p

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