Falcon Oil & Gas Australia Limited (ABN 53 132 857 008) (“Falcon Australia”) is a 98% owned subsidiary of Falcon Oil & Gas Ltd (“Falcon”), a company headquartered in Dublin, Ireland, incorporated in British Columbia, Canada.
Falcon is listed on the Toronto Venture Exchange (TSXV) under the symbol "FO", the London Stock Exchange Alternative Investment Market (AIM) under the symbol “FOG” and the Dublin Stock Exchange Enterprise Securities Market (ESM) under the symbol “FAC”.
Falcon Australia is an unlisted public company engaged in the exploration and development of world class conventional and unconventional oil & gas resources in the Beetaloo Basin, Northern Territory. The Beetaloo Basin is a Proterozoic and Cambrian age tight oil and gas basin that the Board believes is well suited for unconventional oil and gas projects. Connected to the major industrial and export markets in Darwin 600km to the north, Falcon Australia is uniquely positioned in the Northern Territory to achieve commercial production. Existing infrastructure includes a major highway, two gas pipelines and a railway.
Falcon Australia holds a 30% interest in 4.6 million gross acres in Exploration Permits 98, 76, and 117 covering the majority of the Beetaloo Basin.
On 21 August 2014, Falcon Australia completed a Farm-Out Agreement and Joint Operating Agreements with Origin Energy Resources Limited, a subsidiary of Origin Energy Limited (“Origin”) and Sasol Petroleum Australia Limited, a subsidiary of Sasol Limited (“Sasol”), each farming into 35% of Falcon’s Exploration Permits in the Beetaloo Basin, Australia.
In 2015, Falcon Australia with their partners Origin and Sasol completed the drilling of three exploration wells, including the first horizontal well to be drilled in the Beetaloo Basin.
2016 will see the continuation of exploration activities with the first fracture stimulation of a horizontal well in the Beetaloo Basin, followed by the drilling of two additional vertical exploration wells, one of which will be fracture stimulated.