Falcon Oil & Gas Closer to Acquiring South African Shale Drilling Licence

Falcon Oil & Gas (TSXV:FO) said it has been notified by the Petroleum Agency of South Africa that it is proceeding with the processing of the company’s application for a shale gas exploration licence in the Karoo Basin.

According to Mining Weekly:

DMR director-general Dr Thibedi Ramontja said it was expected that technical regulations, pertaining to hydraulic fracturing, would be gazetted by the country’s government at the end of January 2015, after a final round of public consultation.

Pasa had requested Falcon to review and update its already draftedenvironmental management programme where necessary. According to the South African Mineral and Petroleum Resources Development Act 2002, Falcon would be required to notify and consult with communities and parties regarding any revisions to the environmental management programme.

Phulip O’Quigley, CEO of Falcon, said:

We are encouraged by these developments and will work to meet all the requirements set by Pasa. The 7.5-million acres in the Karoo basin, for which Falcon is seeking an exploration licence, are geologically prospective with the Whitehill shale believed to be thick, organically rich and thermally mature.

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