Sign up United Kingdom
Proactive Investors - Run By Investors For Investors

Falcon Oil & Gas 'taking Beetaloo shale project forward at pace'

Philip O'Quigley, chief executive of Falcon Oil & Gas Ltd (LON:FOG, CVE:FO) tells Proactive's Andrew Scott that they, along with their partner Origin Energy, have agreed to accelerate exploration activity for the Beetaloo shale project.

Together they now deem the Stage 1 campaign to be complete, essentially meaning that in light of the 2014 successes – drilling three vertical wells and one horizontal, fracture stimulated well – that it is now appropriate to move ahead.

In all, the Stage 2 cost cap is now A$65mln. Any portion of the additional budget not spent in Stage 2 will carry over into Stage 3 (which presently has a cap of A$48mln).

''This is a huge step forward now''

''The moratorium is gone, the recommendations are being implemented by the government ... working with industry... and we're now taking this forward at pace''.

''This is a huge step forward for the Beetaloo Basin, for Falcon and for Origin ... it's a good day''.

 
Meet Grit Real Estate Income Group Ltd, Kogi Iron Ltd, Ethernity Networks Ltd and Advanced Blast & Ballistic Systems Ltd at our event, London , 15 November 2018. Register here »
View full FOG profile View Profile

Falcon Oil & Gas Ltd Timeline

© Proactive Investors 2018

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use