Falcon Oil & Gas Ltd V.FO

Alternate Symbol(s): FOLGF

Energy Oil & Gas E&P

Falcon Oil & Gas Ltd. is an Ireland-based international oil & gas company. The Company is engaged in the exploration and development of unconventional oil and gas assets, with the current portfolio focused on Australia. Its principal interests are located in two underexplored basins in Australia and South Africa, and it also has interests in Hungary, covering approximately 12.3 million gross acres in total. The Beetaloo Sub-basin project is a Proterozoic and Cambrian tight oil and gas basin which covers approximately 35,260 square kilometers (km2). The Karoo Basin project is a sedimentary basin covering approximately 600,000 km2 in central and southern South Africa. It has thick, organic-rich shales such as the Permian Whitehill Formation, representing the focus of shale gas permit applications. The Mako Trough project is a large sedimentary basin located in south-eastern Hungary in the mature Pannonian basin. It has approximately two plays, Mako Shallow Play and Mako Deep Play.

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Falcon Oil & Gas Ltd

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Comment by hikarion May 13, 2025 2:44pm

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Post# 36572095

RE:RE:RE:RE:The Flare is Burning!!!

https://ir.tamboran.com/news-events/press-releases/detail/24/tamboran-finalizes-the-checkerboard-of-beetaloo-basin-blocks-and-announces-us15-million-acreage-sale-to-daly-waters-energy-lp

Highlights

Tamboran and Daly Waters Energy, LP (DWE) have signed a binding agreement to finalize the checkerboard of the joint acreage position across EPs 76, 98 and 117.
In conjunction with the checkerboard, Tamboran and DWE have entered into a binding agreement whereby DWE will acquire a non-operating and non-controlling interest in 100,000 acres within two areas for a consideration of US$15 million. The transaction is subject to certain conditions precedent and regulatory approvals.
On completion, Tamboran will have retained approximately 1.9 million net prospective, development-ready acres across the Beetaloo Basin.
Tamboran has reserved 406,693 gross acres as its Phase 2 Development Area, located immediately north of the Pilot Area, where Tamboran plans to focus development on supplying gas into Australia’s East Coast domestic gas market.
On completion of the sale to DWE, Tamboran is expected to hold 236,370 net acres (58.12% operated interest) over the Phase 2 Development Area, with DWE (19.38%) and Falcon Oil & Gas Australia Limited (Falcon) (22.5%) holding the remaining interest.
Tamboran has engaged RBC Capital Markets to commence a formal farm-down of the Phase 2 Development Area. The formal process will commence on release of the IP30 flow test from the Shenandoah South 2H sidetrack (SS-2H ST1) well, planned for June 2025. DWE will have participation rights to any transaction on the same terms.
Ownership of the proposed northern Pilot Area, which will provide initial gas production to the Northern Territory, remains unchanged (Tamboran 47.5% operator) with expansion into the proposed southern Pilot Area (Tamboran 38.75%) anticipated in accordance with the terms of the acreage sale. Future working interests are subject to participation of parties in the Joint Venture.
Tamboran will hold 77.5% operating interest in the remaining half of the ex-EP 76, 98 and 117 acreage positions following the completion of the checkboard process, with Falcon holding the remaining 22.5% interest.