Falcon Oil & Gas Ltd V.FO

Alternate Symbol(s): FOLGF

Energy Oil & Gas E&P

Falcon Oil & Gas Ltd. is an international oil and gas company. The Company is engaged in the exploration and development of unconventional oil and gas assets, with the portfolio focused in Australia, South Africa and Hungary. Its principal interest is located in two underexplored basins in Australia and South Africa, with further interest in Hungary, covering over 12.3 million gross acres. Its Beetaloo Sub-basin project is located in the Northern Territory, over 600 kilometers south of Darwin. The Company holds a Technical Cooperation Permit, covering an area of over 30,327 square kilometers in the southwest Karoo Basin, South Africa. The Karoo Basin contains thick, organic rich shales, such as the permain whitehill formation representing the focus of shale gas permit applications. Its Mako Production License (Mako Trough) is a sedimentary basin located in south-eastern Hungary in the mature Pannonian basin. Mako Trough includes two plays: Mako Shallow Play and Mako Deep Play.

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Falcon Oil & Gas Ltd

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Post by Ebenizer3on Jun 22, 2023 9:43pm

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Post# 35510537

MOU signed with BP and Shell...

Tamboran Resources Limited Signs Non-Binding LNG MOUs with BP and Shell

Today at 05:31 pm

TAMBORAN RESOURCES LIMITED

0.2050 AUD 0.00%

Sydney, Australia (ABN Newswire) - Tamboran Resources Limited (ASX:TBN) (OTCMKTS:TBNNY) has entered into two non-binding Memorandum of Understandings (MOU) with BP Singapore Pte. Limited (bp), a subsidiary of BP plc., and Shell Eastern Trading (Pte) Ltd. (Shell), a subsidiary of Shell plc. regarding the potential purchase of liquefied natural gas (LNG) from Tamboran's proposed NTLNG project at Middle Arm.

The two MOUs include volumes for bp and Shell to each purchase up to 2.2 million tonnes of LNG per annum (MTPA) over a 20-year period.

Gas volumes have the potential to be supplied from Tamboran's Beetaloo Basin gas assets, subject to completion of the Concept Select studies, successful Beetaloo appraisal drilling and Government approvals.

Tamboran to progress discussions with both bp and Shell prior to the completion of the FEED in 2024 and aim for formal execution of the LNG Sale and Purchase Agreements (SPA) in 2025.

Tamboran Resources Limited Managing Director and Chief Executive Officer, Mr Joel Riddle, said:

"Securing these MOUs with bp and Shell is a significant step in progressing the proposed NTLNG development at Middle Arm.

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