Falcon Oil & Gas says 2025 Beetaloo drilling campaign completed

(Alliance News) - Falcon Oil & Gas Ltd on Wednesday said that its subsidiary Falcon Oil & Gas Australia Ltd's joint venture partner Tamboran (B2) Pty Ltd has "completed the largest drilling program ever conducted" in the Beetaloo Sub-basin.

The Shenandoah South pilot project was the first multi-well drilling campaign implementing batch drilling in the Beetaloo Sub-basin.

The Australia, Hungary and South Africa-focused oil and gas explorer said it expects all wells included in the campaign to deliver the contracted 40 million cubic feet per day volume required under its agreement with the Northern Territory government.

Subject to weather conditions and final stakeholder approvals, three wells, including the second well of Tamboran's 2024 drilling campaign, are expected to be stimulated ahead of the commencement of gas sales in the first half of 2026.

Falcon Australia opted to reduce its participating interest in the three wells drilled in 2025 to 0%, with no cost exposure.

Chief Executive Officer of Falcon Philip O'Quigley said: "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."

Shares in Falcon rose 0.2% to 10.97 pence in London on Wednesday afternoon.

By Roya Shahidi, Alliance News reporter

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