Global Oil and Gas (ASX:GLV) and Prominence Energy (ASX:PRM) gear up for Sasanof-1 well drilling

• Western Gas advises its joint venture partners Global Oil and Gas (GLV) and Prominence Energy (PRM) that mobilisation of equipment has commenced for drilling of the Sasanof-1 well in Western Australia
• Drilling is expected to start in late May, with a drill rig due to commence tow to the location mid-this month
• Drilling equipment and bulk materials are being prepared for transfer to the drill rig, which is currently anchored in Dampier’s outer harbour
• Three support vessels will commence logistical and drilling support operations from Monday
• GLV shares are trading 7.41 per cent higher at 2.9 cents while PRM shares soared 22.2 per cent to 1.1 cent

Western Gas has advised its joint venture partners Global Oil and Gas (GLV) and Prominence Energy (PRM) that mobilisation of equipment has commenced for drilling of the Sasanof-1 well in Western Australia.

The company holds a 62.5 per cent interest in the project, with Global Oil and Gas holding 25 per cent and Prominence Energy at 12.5 per cent.

Drilling is expected to start in late May, with a drill rig due to be towed to the location this month.

Drilling equipment and bulk materials are being prepared for transfer to the drill rig, which is currently anchored in Dampier’s outer harbour.

Three support vessels will commence logistical and drilling support operations from Monday.

“We are thrilled to have commenced the mobilisation process for the drilling of Sasanof-1 after multiple years of technical studies, regulatory approvals, contracting and planning,” Executive Director Will Barker said.

“The rig is due to leave port on 16 May, enabling this short duration and high impact well to deliver results by early June.”

GLV shares were trading 7.41 per cent higher at 2.9 cents while PRM shares soared 22.2 per cent to 1.1 cent at 12:06 pm AEST.