Falcon Oil and Gas Ltd. (LON:FOG)


Founded in 1980, Falcon Oil and Gas Ltd is an Ireland based international oil and gas business engaged in exploration and development of unconventional oil and gas assets. Its principal assets are located in two major underexplored basins in South Africa and Australia, with additional assets in Hungary, covering area of around 12.3 million gross acres. The company’s interests are in a range of countries that are characterised by a high regional demand for energy and are near the infrastructure facilities that enables fast delivery of oil and gas to market in Australia and Hungary. The company’s shares are traded on the Alternative Investment Market (AIM) segment of the London Stock Exchange as LON: FOG and in the Toronto’s TSX Venture Exchange (TSX-V) as TSX: FO.V.

The company’s objectives are to explore unconventional oil and gas basins, monetize assets prior to production and following successful exploration, continue with appraisal programmes to determine commercialization options. The company seeks to add value to its interest by entering into farm-out arrangements with leading oil & gas businesses that will fully or partially carry the company through seismic and drilling work programmes.

The company’s projects include Beetaloo Sub-Basin, Karoo Basin and Mako Trough. The Beetaloo Sub-Basin is  Proterozonic and Cambrian tight oil and gas basin consists of three assets that include EP76, EP98 and EP117. The company holds 98% interest in the Falcon Oil & Gas Australia Limited, which holds 22.5% interest in 4.6 million gross acres in the Beetaloo assets. The project is located in the Northern Territory, 600 km south of Darwin. Its EP76 asset covers 1,891.30 km sq gross area, EP98 asset cover 10,316 km sq gross area and EP117 asset covers 6,412 km sq gross area.

The Karoo Basin holds a Technical Cooperation Permit (TCP) covering area of around 7.4 million acres (30,327.90 Km sq) in the southwest Karoo Basin located in South Africa. In August 2010, TCP offered the company with exclusive rights to apply for an exploration right over the underlying acreage, submitting an application to the Petroleum Agency of South Africa (PASA). Since 2004, the company has been active in Mako Trough asset located in south-eastern Hungary in the mature Pannonian basin, when it acquired the Mako and Tisza exploration licences. The company’s subsidiary, TXM Oil and Gas Exploration Kft, was awarded with the 35 years licence in the project over a tight and shale gas exploration project covering around 245,775 acres. The company and its partner in the Mako Trough have acquired a total of 1.100 sq km of 3D seismic data and nine exploration wells.

Contact Information

company address 5th Floor, Styne House, Upper Hatch Street, Dublin, 2, Ireland

company phone+353.1.6768702

company websitehttp://www.falconoilandgas.com/

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