Falcon Oil & Gas Ltd (AIM:FOG, TSX-V:FO) shares moved higher on Monday after it updated on operations in the Beetaloo project, in Australia, where joint venture partner Tamboran (B2) Pty Limited continues to advance a multi-well campaign.
The first two wells have been drilled and cased, each with a 3,000-metre horizontal section, while the rig has now moved to the third and final well in the 2025 programme.
The partners plan to conduct up to a 60-stage stimulation on one of the newly drilled wells, with flow testing to take place over a 30-day period in early 2026.
Gas sales from the Shenandoah South Pilot Project are expected to begin in mid-2026, following completion of the stimulation programme and the wet season.
“It’s great to report our operating partner, Tamboran Resources, is executing the 2025 drilling campaign to plan," said chief executive Philip O'Quigley.
"We look forward to providing further updates over what will be an extremely busy next few months."
The shares rose 7% to 9.81p.