Falcon Oil & Gas Ltd. (TSXV:FO) has updated on the activities on Beetaloo Basin area, NT Australia.
As quoted in the press release:
- Falcon fully carried for its 37.5% of the five well exploration program
- Additional carry – Falcon will be fully carried on the first US$10MM gross cost of the first development well
Falcon Oil & Gas’s CEO, Philip O’Quigley, commented:
Today’s operational update is very significant in many respects. The anticipated increase in financial and technical resources being deployed for the seismic program under Falcon’s Participation Agreement with Hess in the Beetaloo, demonstrates commitment to our Permits in the Beetaloo Basin.