---
title: "Falcon Oil & Gas to sell for £128m in cash-and-shares deal with Tamboran"
publisher: "Share Talk"
author: "sharetalk"
published: "2025-09-30T11:52:34+00:00"
modified: "2025-09-30T19:27:04+00:00"
date: 2025-09-30
canonical: "https://www.share-talk.com/falcon-oil-gas-to-sell-for-128m-in-cash-and-shares-deal-with-tamboran/"
category: "Energy"
categories: ["Energy"]
tags: ["Anne Flynn", "Australia", "Beetaloo Sub-Basin", "British Columbia", "canada", "Falcon Oil & Gas", "Falcon Oil & Gas Ltd", "FOG", "frack stages", "Liberty Energy", "Mr. Viktor Vekselberg", "natural gas", "Northern Territory", "Origin Energy", "Philip O’Quigley", "Share Talk", "South Africa", "Toronto"]
image: "https://i0.wp.com/www.share-talk.com/wp-content/uploads/2025/09/Rro-mkLq-750x406-1.webp?fit=750%2C406&quality=80&ssl=1"
format: "news"
language: "en-GB"
---

# Falcon Oil & Gas to sell for £128m in cash-and-shares deal with Tamboran

**Published:** September 30, 2025
**Author:** sharetalk
**Categories:** Energy
**Tags:** Anne Flynn, Australia, Beetaloo Sub-Basin, British Columbia, canada, Falcon Oil & Gas, Falcon Oil & Gas Ltd, FOG, frack stages, Liberty Energy, Mr. Viktor Vekselberg, natural gas, Northern Territory, Origin Energy, Philip O’Quigley, Share Talk, South Africa, Toronto
**Featured image:** ![](https://i0.wp.com/www.share-talk.com/wp-content/uploads/2025/09/Rro-mkLq-750x406-1.webp?fit=750%2C406&quality=80&ssl=1)

---

[Falcon Oil & Gas Ltd (AIM: FOG, TSX-V: FO)](https://www.investegate.co.uk/announcement/gnw/falcon-oil-gas-ltd---fog/falcon-oil-gas-ltd-tamboran-to-acquire-f-/9139718) shares rose after the company agreed a £128 million (C$239 million) takeover by exploration partner Tamboran Resources Corporation (ASX: TBN, NYSE: TBN, OTC: TBNRL). The deal is mostly in shares, with an additional US$23.7 million in cash.

The transaction follows Falcon’s self-funding of its Beetaloo Basin interests in Australia since mid-2024, after its earlier farm-out “carry” was exhausted. It also comes ahead of new farm-out and financing processes to fund the next phase of development.

Under the agreement, Falcon shareholders will own about 28% of the enlarged group. Each Falcon share will be exchanged for 0.00687 Tamboran shares, with the package valued at a 19.7% premium to Falcon’s last closing price.

Chief executive Philip O’Quigley said the deal increases exposure to the Beetaloo pilot development and removes uncertainty over Falcon’s participation in the next farm-out process. Tamboran interim CEO Richard Stoneburner described the tie-up as a “logical consolidation” that strengthens its ownership of the Phase 2 Development Area, positioning the group to attract a new partner while retaining a material stake.

In London trading, Falcon shares climbed 7% to 10.51p, valuing the company at just over £100 million. The stock has gained around 136% so far in 2025.

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