Sasanof-1 Mobilisation of Equipment Commenced for Drilling

Global Oil & Gas Limited is pleased to announce that Western Gas (“WGC”) has advised that mobilisation of equipment to the Valaris MS-1 semi-submersible drilling rig has now commenced in preparation for rig mobilisation to location on 16 May 2022.

Highlights

• Drilling equipment and bulk materials are now being prepared for transfer to the Valaris MS-1 rig anchored in Dampier outer harbour
• The Valaris MS-1 rig is due to commence tow to the Sasanof-1 location on 16 May 2022, with drilling operations expected to commence on 24 May 2022
• The Solstad Far Senator AHSV, Maersk Mover AHSV and GO Spica PSV support vessels will commence logistical and drilling support operations on 9 May 2022
• Sasanof is a 2U Prospective Resource of 7.2 Tcf gas and 176 Million bbls condensate (P501), with 32% geological chance of success

The MS-1 is expected to take approximately four days to reach the Sasanof Prospect, which is approximately 200 km northwest of Onslow, Western Australia, following which the rig and support vessels will prepare for drilling the Sasanof-1 exploration well. The well will be drilled vertically to a total depth of 2500 m in 1070 m of water.

Commencement of the drilling operations (jetting 36” conductor) is expected to commence on 24 May 2022, once the rig is on location and anchors have been set.

ABOUT THE SASANOF PROSPECT

The Sasanof Prospect covers an area of up to 400 km2 and is on trend and updip of Western Gas’ liquids rich, low C02 Mentorc Field.

ERCE estimates the Sasanof Prospect to contain a 2U Prospective Resource of 7.2 Tcf gas and 176 Million bbls condensate (P501), with a high case 3U Prospective Resource estimate of 17.8 Tcf gas and 449 Million bbls condensate (P101).

Sasanof is a large, seismic amplitude supported, structural-stratigraphic trap in the high-quality reservoir sands at the top of the Cretaceous top Lower Barrow Group formation on the Barrow Delta within the Exmouth Plateau.

Sasanof-1 will be Western Gas’ first well drilled from its extensive exploration portfolio surrounding the existing Equus Gas Project that contains a discovered resource of 2 Tcf and 42 MMbbl (2C Gaffney Cline2). The Equus Gas Project has a historic exploration drilling success rate of 88%, with 15 discoveries from 17 wells.

EQUIPMENT PREPARED FOR LOADOUT TO THE VALARIS MS-1

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