logo-loader

Falcon Oil & Gas boss says fracking ‘green light’ is brilliant news for Australia

Published: 10:11 17 Apr 2018 BST

Falcon Oil & Gas Ltd (LON:FOG, CVE:FO) chief executive Philip O’Quigley says it is a big day for the company, but, also for the Northern Territory and Australia.

The lifting of a moratorium on hydraulic fracturing has cleared Falcon and its operating partner Origin Energy - Falcon owns 30% of the shale project while Origin has the other 70%.

It means a five well campaign can now be advanced “as soon as practical”.

“It is brilliant news,” O’Quigley said in a Proactive Investors interview.

He added: “It is a huge resource to go after, and the lifting of the moratorium means we can get back to work.”

FTSE starts flat, Unilever jumps on ice cream overhaul - Market Report

The FTSE 100 has opened flat, with the largest gain coming from multinational consumer goods heavyweight Unilever. The company lifted more than 5% in early trading after launching plans to sack 7,500 workers as part of an overhaul of its ice cream business. Over in the pharmaceutical...

5 minutes ago