The exploration and appraisal programme will include the drilling and hydraulic fracture stimulation of two horizontal wells
Falcon Oil & Gas Ltd
Falcon Oil & Gas Ltd. (“Falcon” or “Company”) is an international oil and gas company engaged in the acquisition, exploration and development of unconventional oil and gas assets. The Company’s principal interests are located in two major underexplored basins in Australia and South Africa; with further interests in Hungary, covering approximately 12.3 million gross acres. The Company’s...
| EPIC: | FOG |
| Market: |
AIM:FOG TSX-V:FO |
| 52-week High/Low: | 22.40p / 13.00p |
| Sector: | Energy |
| Market Cap: | £131.55 m |
| Website: | falconoilandgas.com |
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Big Picture – A Deep Dive Examination of Falcon Oil & Gas Ltd
Falcon Oil & Gas Ltd Timeline
“This placing will see the company being adequately funded through the next c.US$100mln of capital expenditure on the Beetaloo project," said Phillip O’Quigley.
An important and hotly anticipated new well programme is due to kick off in the coming months.
The exploration and appraisal programme will include the drilling and hydraulic fracture stimulation of two horizontal wells
The company described it as an exciting development.
As it prepares for drilling, Falcon confirmed it ended 2018 with US$6.9mln of cash
Falcon will be able to make a decision over the royalty acquisition after the next phase of work, due to start in June
“Today’s announcement is an exciting development for Falcon shareholders as the JV prepares to commence drilling in the highly prospective Beetaloo Sub-basin,” said Falcon boss Philip O’Quigley.
The business has shale interests in Australia at Beetaloo and in South Africa’s Karoo Basin
Falcon Oil & Gas narrowed its first-half loss as it continued to focus on tight cost control
The royalty cancellation comes as the partners prepare to step up exploration and appraisal activities in the Beetaloo shale project, in Australia's Northern Territory
Together the partners agree to bring forward and expand the Stage 2 work programme for the Australian shale project
Falcon’s partner at Beetaloo, Origin Energy, said the four new plays have the potential to “redefine Australia’s energy market”
Falcon saw a major breakthrough last month, as Australian authorities green-lighted its shale project in the Northern Territory.
Falcon's shale project is now clear to advance now that a ban on fracking has been lifted in Australia's Northern Territory.
Article
Falcon Oil & Gas marks modest rise on fracking breakthrough but CEO says low prices won’t be around
“Falcon are fully carried for the next five wells ... we’ve got US$9mln cash in the bank, so we’re not looking to raise any money any time in the next two to three years."
A five well drill campaign will now be targeted for the Beetaloo shale project, which is estimated to contain some 6.6 trillion cubic feet of gas
Sentiments were significantly lifted late March as a scientific report concluded that fracking risks could be managed in Australia's Northern Territory but the regional government has yet to decide on the future of fracking
Article
Falcon Oil & Gas jumps as final scientific report says Australian fracking risks can be managed
The report's findings are intended to inform a decision by the Northern Territory government which put a moratorium on fracking in 2016
As a long awaited final report on fracking in the Northern Territory looms, Falcon's partner Origin Energy has detailed further upside potential for future shale wells at the Beetaloo project
“We see Falcon as a near pure option on what could prove to be a very large, economic gas resource with long-dated strategic appeal"
Article
Falcon Oil & Gas boosted as draft scientific report says Australian fracking risks are manageable
The report’s overall conclusion states that “the challenges and risks associated with any onshore shale gas industry in the NT are manageable”
Article
Falcon Oil & Gas’s prospects improving as Northern Territory prepares to make fracking decision
Falcon is sitting on a major shale discovery in the Beetaloo basin, but, it is waiting for the Northern Territory to green-light fracking - with a decision expected next year.
