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Falcon Oil & Gas says nitrogen lift operations to start soon at Betaloo

If successful, the operation will allow extended production testing to confirm at the Kyalla 117 well.

Falcon Oil & Gas Ltd -

Falcon Oil & Gas Ltd (LON:FOG) has said nitrogen lift operations should start in the next few days at its Kyalla 117 N2-1H ST2 well in the Betaloo basin of the Northern Territory in Australia.

The owners of the Betaloo licence decided earlier this month to execute operations without delay to re-enter Kyalla 117 with coiled tubing and apply nitrogen lift to lower the pressure in the wellbore and to assist with achieving and sustaining gas breakthrough. If successful, the operation will allow extended production testing to confirm at the well.

READ Falcon Oil & Gas says Beetaloo well programme will be advanced without delay

Falcon owns a 22.5% interest in the Beetaloo project alongside majority partner and operator Origin Energy Ltd (ASX:ORG).

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Price: 8.5 GBX

AIM:FOG
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Market Cap: £83.46 m
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