Falcon Oil & Gas Ltd. (TSXV: FO, AIM: FOG) is pleased to announce that Falcon Oil & Gas Australia Limited’s (“Falcon Australia”) joint venture partner Tamboran (B2) Pty Limited (collectively the “BJV partners”) has successfully completed the three well batch drilling 2025 campaign, the largest drilling program ever conducted in the Beetaloo Sub-basin.
- The three wells of the 2025 batch drilling campaign (Shenandoah South SS2-1H, SS2-3H and SS2-5H) are now drilled, cased and suspended ahead of stimulation, each with a 3,000-metre horizontal section (10,000-foot).
- The campaign was the first multi-well drilling program implementing batch drilling in the Beetaloo Sub-basin.
- The average drilling to target depth was 26.7 days with the drilling and casing time delivered within the 35-day forecast.
- Modifications to the mud system and use of anti-vibration drilling bits led to increased drilling efficiency. This resulted in reaching ~1,000 metres drilled in a day in the SS2-1H well, the fastest horizontal section drilled in the Amungee Member B-shale to date.
- Up to a 60-stage stimulation across the full 3,000-metre horizontal section of SS2-5H well is now planned in Q4 2025 and is expected to be flow tested for 30 days prior to being shut-in ahead of the commencement of gas sales, which are expected to commence in mid-2026.
- In H1 2026, three wells (which includes the second well of the 2024 drilling campaign) are expected to be stimulated ahead of the commencement of gas sales.
- All wells included in the Shenandoah South Pilot Project are expected to deliver the contracted 40 MMcf/d volume required under the Gas Sales Agreement with the Northern Territory Government subject to weather conditions and final stakeholder approvals.
- As previously announced, Falcon Australia opted to reduce its participating interest in the three wells drilled in 2025 to 0%, with no cost exposure.
Philip O’Quigley, CEO of Falcon commented:
“Tamboran has executed a fantastic three well drilling campaign delivering three 3,000 metre (10,000-foot) horizontal cased wells. We now have 12,000 metres (40,000 feet) of horizontal cased sections to be fracture stimulated over the coming months. Once completed, these wells will then be hooked up to the gas gathering and compression facilities currently under construction in the Beetaloo with sales to the Northern Territory government commencing in the second half of 2026. We look forward to updating shareholders during this next phase as momentum in the Beetaloo continues to increase.”
Ends.
CONTACT DETAILS:
| Falcon Oil & Gas Ltd. | +353 1 676 8702 |
| Philip O’Quigley, CEO | +353 87 814 7042 |
| Anne Flynn, CFO | +353 1 676 9162 |
