Clontarf spuds Sasanof-1 exploration well

27th May 2022 11:16

(Sharecast News) - Clontarf Energy updated the market on the drilling of the Sasanof-1 exploration well on Friday, confirming that drilling had now started at the site offshore Western Australia.

The AIM-traded firm said the well was spudded with the jetting of the 36 inch conductor at a water depth of 1,068.3 metres below mean sea level.

Drilling was now underway on the 17-and-a-half inch intermediate hole section to a depth of 2,030 metres below mean sea level, when a 13-and-three-eighths inch casing would then be run and cemented.

That would be followed by drilling the 12-and-a-quarter inch hole section through the target reservoir section to a total depth of 2,500 metres below mean sea level.

"The current schedule expects drilling through the target reservoir occurring, at earliest, between 2 June and 5 June," the board said in its statement.

"Further updates will be provided upon the completion of campaign milestones."

At 1110 BST, shares in Clontarf Energy were down 4.47% at 0.43p.

Reporting by Josh White at Sharecast.com.