logo-loader
viewFalcon Oil & Gas Ltd

Falcon Oil & Gas confirms strong financial position

Attentions are on the Kyalla well in the Beetaloo basin where the vertical section was recently completed.

Falcon Oil & Gas Ltd - Falcon Oil & Gas confirms strong financial position

Falcon Oil & Gas Ltd (LON:FOG, CVE:FO) showed its strong financial position as its interim financial statement confirmed US$13mln of cash at the end of September.

The company highlighted that it continued focus on strict cost management and efficient operation of the portfolio.

Earlier this week, Falcon completed drilling the vertical section of the Kyalla 117 N2-1 appraisal well, in Australia’s Beetaloo basin.

READ: Falcon successfully completes vertical section of Beetaloo

The well is located between the previously drilled Beetaloo W-1 and Amungee NW-1H wells. It was drilled down to 1,895 metres and confirmed the continuation of the Kyalla shale play. Elevated gas shows were observed across the shale.

Preparations are now underway for the horizontal phase of drilling through the Kyalla. Work will start once final analysis of the vertical section is completed.

Quick facts: Falcon Oil & Gas Ltd

Price: 11.625 GBX

AIM:FOG
Market: AIM
Market Cap: £114.14 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Falcon Oil & Gas Ltd named herein, including the promotion by the Company of Falcon Oil & Gas Ltd in any Content on the Site, the Company...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

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