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Falcon Oil & Gas Ltd back to drilling and 'full steam ahead' as rig contract signed

Philip O’Quigley, chief executive of Falcon Oil & Gas Ltd (LON:FOG), tells Proactive London's Andrew Scott a rig contract's been signed for the Stage 2 work programme that will advance its potentially world class shale project in Australia.

The exploration and appraisal programme will include the drilling and hydraulic fracture stimulation of two horizontal wells, with drilling slated to start in June.

It will be a particularly significant project milestone as it will see Falcon finally get back to drilling after a 2 year delay imposed by the fracking moratorium in Australia’s Northern Territory.

Quick facts: Falcon Oil & Gas Ltd

Price: 13.25 GBX

AIM:FOG
Market: AIM
Market Cap: £130.09 m
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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...

on 10/10/19

2 min read