Sasanof-1 Preparing To Drill Reservoir Section

Global Oil & Gas Limited (“Company”) is pleased to announce that Western Gas (“WGC”) has provided an operational update on the drilling of the Sasanof-1 exploration well.

Highlights

• The marine riser and well control Blow Out Preventer (BOP) have been installed, connecting the Valaris MS-1 rig to the Sasanof-1 High Pressure Wellhead Housing (HPWHH) and the system is currently being pressure and function tested
• Once complete the 12-1/4” bottomhole drilling assembly (BHA) will be run in hole to drill out of the 13-3/8” shoe track cement and integrity tests will then be conducted
• This will be followed by drilling of the 12-1/4” target hole section from the current depth of 2072m to an estimated total depth of 2500m TVDBRT
• The Company anticipates drilling through the target reservoir sand section will occur over the weekend

ABOUT SASANOF

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.

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.

Authorised by the Board of Global Oil & Gas Limited.

For further information please contact:

Patric Glovac

Director

info@globaloilandgas.com.au

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