Falcon Oil Share Price (FOG)

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Beetaloo hits major milestone with NT well gas stimulation

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By Bill McConnell

July 8, 2025 — 1.09pm

Https://www.marketscreener.com/quote/stock/BEETALOO-ENERGY-AUSTRALIA-190544101/news/Beetaloo-Energy-Australia-Limited-ASX-BTL-Completion-of-Carpentaria-5H-Hydraulic-Stimulation-50452039/

ADNOC from the UAE is interested in taking over Santos.

Qatar is interested in buying LNG from Santos.

These are the Santos` LNG customers: "Santos’ portfolio of high-quality, tier-one customers now comprises, Hokkaido Gas Co., Ltd, Shizuoka

Gas Co. Ltd, TotalEnergies Gas & Power Asia Limited, Glencore Singapore Pte Ltd, Mitsubishi

Corporation, PETRONAS, KOGAS, Osaka Gas, JERA, Sinopec (Unipec Asia Co Ltd), CPC

Corporation, and now QET"

Why do we not hear that Mr POQ has established an excellent business relationship or at least contacts with these big companies, that are buying LNG from Australia. Companies that are the logical buyers of Beetaloo gas or FOG shares.

Northern -- IF the S.A. ever gets it's act together and passes the shale gas regulations (14 years now and counting with no legislation enacted) -- then Falcon would most likely do exactly the same as they have done in the Beetaloo with Origin (and Sasol). Falcon would do the same and just be holding company and trade off the majority ownership of Falcon's 7 million acre permits (in the absolutely best part of the Karoo) to a big oil and gas company in return for a commitment to develop the Karoo -- with something like a 7 well (Origin Style) commitment again.

IF the S.A. gov't ever gets it head out of it's own assss -- then Falcon could have a couple of big players very interested in an Origin type of agreement. Chevron paid Falcon one million US dollars about 12 years ago -- just to have an "option" on an Origin type of agreement -- if the legislation was passed within a couple of years. Of course the legislation was never passed and Chevron moved on to better countries to deal with.

The other big oil and gas company that would most likely be very keen would be Sasol AGAIN. Any legislation that does get passed will require Falcon to have a black owned South African company as a partner involved in shale gas development in the Karoo. I am fairly sure that Sasol is the biggest oil and gas company in South Africa. Sasol had to give up a 35% ownership in the Beetaloo (with potentially now 30 TCF of gas) to Origin for what was most likely a pittance. Sasol was under a great deal of financial pressure about 11 years ago due to the very slow progress in the shale gas basins in Northern British Columbia -- where Sasol had just spent $1 billion to buy into Talisman -- who had the biggest acreages in the Laird and Horn River shale gas basins in B.C..

"Calgary-based Talisman Energy Inc. announced a deal Tuesday with South African Chemical producer Sasol on a shale natural gas project in northeastern British Columbia. Sasol has agreed to pay $1.05 billion for half of Talisman's Cypress A properties".

In terms of what might be required if there was interest in developing it. However, won't Falcon be in a similar situation they were in so the the Beetaloo. Firstly they will need quite a lot of funds to find some Seismic and if exploration wells required they will need substantial funding for that and presumably a drilling partner with lots of funding too.

At the moment therefore South Africa seems very much one on the backburner unless there is a policy decision that is made to develop the shale resources.

Atb,

Northern