Falcon Oil & Gas Ltd. spuds the Amungee NW-1 well in the Beetaloo Basin, Australia. Amungee NW-1 is the second of Falcon's fully carried 2015 three well drilling and evaluation programme, the initial phase of a nine well drilling and evaluation programme.

Highlights:

•Amungee NW-1 is targeting the Middle Velkerri formation to assess hydrocarbon saturation and reservoir quality. •The well is located approximately 25 kilometres east of the first well drilled, Kalala S-1, within exploration permit 98 with drilling estimated to be to a total depth of 2,700 meters. •Rig 185, an ATS 400 originally commissioned for the drilling of Kalala S-1 from Saxon Energy Services Australia Pty. Ltd, will be used. •Drilling is estimated to take between 35 and 50 days. •The drilling of Amungee NW-1 will be operated by Origin Resources Limited (35%) with partners Sasol Petroleum Australia Limited (35%) and Falcon (30%). Falcon retains a 30% interest in 4.6 million gross acres of the Beetaloo Basin.

Tags: Falcon Oil & Gas