Sasanof-1 primary target to be drilled between 2nd and 5th June

Investment Memo: PRM/GLV 2022

Objective #1: Drilling of the Sasanof-1 well in May 2022

Yesterday our gas exploration Investments Prominence Energy (ASX:PRM) and Global Oil and Gas (ASX: GLV) reported that over the weekend the drill rig at the Sasanof-1 well had reached a depth of ~2073m with all of the casing down to that depth run and cemented in place.

The update also confirmed that the next stage of drilling would see the rig penetrate the primary target zone, where we hope our Investments drill into a large gas bearing column.

The rig is expected to reach the primary target area between the 2nd and 5th of June which means at some point next week we will know whether or not our Investment has paid off.

In our last note, we set some expectations for the drilling program, to read the article in detail and to see what we want to see from the drilling results check out the note by clicking on the image below.