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Falcon Oil & Gas gets green light for next Australian shale well

The upcoming well programme represents an important milestone for Falcon and the Beetaloo project.

Falcon Oil & Gas Ltd -
The well is due to spud in September

Falcon Oil & Gas Ltd (LON:FOG) this morning told investors that it has had the environmental green light for its proposed appraisal well at the Beetaloo project.

The environmental management plan (EMP) has been approved by the Northern Territory Department of Environment and Natural Resources, the explorer said in a statement.

READ: Falcon confirms successful placing for well campaign

“Today’s announcement relating to the approval of the Kyalla 117 N2 Well EMP targeting the Kyalla shale liquids rich gas fairway is an exciting development for Falcon shareholders,” said Philip O’Quigley, Falcon chief executive.

“We look forward to the commencement of drilling operations.”

The proposed well, due to spud in September, will target the Kyalla shale liquids rich gas fairway.

Falcon noted that operations to build the well pad and associated civil works are now nearing completion.

Quick facts: Falcon Oil & Gas Ltd

Price: 7.7 GBX

Market: AIM
Market Cap: £75.6 m

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