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Falcon Oil & Gas Ltd excited to be back drilling in the Beetaloo Basin

Falcon Oil & Gas Ltd’s (LON:FOG) (CVE:FO) CEO Philip O'Quigley says it's exciting times for the business as exploration re-commences at Beetaloo.

In October, the Kyalla 117 N2-1 was spudded - It is the first well in the ‘Stage 2’ drill programme.

The well is located some 32 kilometres from the prior Beetaloo W-1 well and it is targeting the shale liquids-rich gas play.

The project, 30% owned by Falcon, is estimated to host some 85 trillion cubic feet of technically recoverable gas resources.

Quick facts: Falcon Oil & Gas Ltd

Price: 8.001 GBX

AIM:FOG
Market: AIM
Market Cap: £78.56 m
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