Prominence Energy advises that Western Gas ("WGC") has provided the following operational update on the Sasanof-1 exploration well operations, located in exploration permit WA-519-P, in Commonwealth waters approximately 207km northwest of Onslow Western Australia. The Sasanof-1 exploration well was drilled by the Valaris MS-1 without incident. The rig has demobilised from the well location and departed exploration permit WA-519-P on 12 June 2022.

The well has been plugged and permanently abandoned, with wellhead infrastructure removed. The well was drilled to a total depth of 2,390 m on 5 June 2022 and intersected the Lower Barrow Group target sands at a depth of 2,252.9 m TVDSS, 3.9m below the prognosed pre-drill prediction. A preliminary evaluation indicates 40m of net sand was encountered.

However, the sands contained water and no commercial hydrocarbons were detected. Initial technical analysis indicates that the expected western seal of the targeted stratigraphic trap was breached allowing migration of gas out of the Prospect. As planned, the well cost under $25 million with a duration of 25 days.