Member Info for Oleo

Before the shareholder meeting on 11th of March,

we have a shareholder meeting now, on 12th of Feb 2026

10 February 2026 – Falcon Oil & Gas Ltd. (TSXV: FO, AIM: FOG) is pleased to announce that Philip O’Quigley, Falcon’s CEO, will give a presentation and conduct a Q&A via the Investor Meet Company platform on Thursday 12 February 2026 at 4:00pm (London time) in advance of the Special meeting of Shareholders that will be held in the Conrad Hotel, Earlsfort Terrace, Dublin 2, Ireland on 11 March 2026 at 4:00 pm (London time).

Full details of the press release can be found on our main website homepage, under the Investor Centre section selecting Press Releases or clicking on the following link -> Investor-presentation-via-investor-meet-company

09 February 2026 - Falcon Oil & Gas Ltd. (TSXV: FO, AIM: FOG) will hold a special meeting of shareholders at the Conrad Hotel, Earlsfort Terrace, Dublin 2, Ireland on 11 March 2026 at 4:00 p.m. (Dublin time). At the Meeting, Shareholders will be asked to vote on the previously announced plan of arrangement which provides for the acquisition by Tamboran Resources Corporation (“Tamboran”), through its wholly-owned subsidiaries, of all of the equity interests of Falcon’s subsidiaries for consideration consisting of 6,537,503 shares of Tamboran common stock and US$23.7 million.

See 2nd page https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-03043648-2A1646679&v=undefined

On page 19 of the Sheffield interview, it is explained how Sheffield handled the financing to acquire 50% of Origin's (ORG) stake in the Beetaloo.

Suppose POQ had not remained passive but had been more active than Mr. Riddle of TBN. A few phone calls from Dublin would have been enough to initiate the first step. Where would FOG stand today? FOG would not have 22.5% today, but rather 62.5% of our Beetaloo stake. FOG would clearly have remained in the driver's seat in the Beetaloo!

Please don't come at me with the argument that FOG didn't have, or doesn't have, the money. The interview clearly states that Riddle and TBN also had no cash —but they followed a more proactive approach in contrast to POQ.

I know: foresight and hindsight. But don't you also think that this passive 'do-nothing' strategy of POQ has been very detrimental to FOG shareholders? If we apply this to the present day—with exactly one month left until closing—don't you think that POQ's passive 'do-nothing' strategy is, for the second time, failing to achieve the optimum for FOG shareholders in the current situation?

Please don't give me the argument that POQ and FOG have no money and have signed an agreement with TBN, especially when there are interested buyers for the Beetaloo.

See the Reuters article from earlier, and the link to the Sheffield interview provided here:

https://online.publicationprinters.com/html5/reader/production/default.aspx?pubname=&edid=97fda155-14c3-40d6-808e-907d983ad1ca

https://napeexpo.com/magazine

Do you think that POQ ever travelled to Japan? If not, why not?

In Australia, Inpex is on the hunt for large gas resources to feed a third LNG train and to backfill existing capacity at its Ichthys project in Darwin, Ueda said.

"We aim to continue Ichthys production even after 2050, and are exploring various options," Ueda said.

"We have secured some assets such as the Cash Maple gas field near Ichthys and other discovered-but-undeveloped fields, but we are also in various discussions for larger gas sources," he said, adding there is interest in the onshore Beetaloo Basin in Australia's Northern Territory.

The company obtained a permit in 2015 to explore for shale gas in the Beetaloo.

"We are studying gas potential in the region," he said.

Reporting by Yuka Obayashi and Katya Golubkova in Tokyo, Additional reporting by Helen Clark in Perth; Editing by Florence Tan and Christian Schmollinger. Our Standards: The Thomson Reuters Trust Principles.

https://www.reuters.com/business/energy/inpex-working-advancing-indonesias-abadi-lng-project-meet-government-request-2026-01-23/

Could sombody share a PANR discord invitation link here, please?

thank you in advance.

Best scenario:

High oil price (gas price) and high US$. This makes oil and gas companies happiest.

You are right that we, as FOG shareholders, still have a chance to participate in TBN's future success.

Question: Did the FOG management secure a higher share (like closer to 34%?) for the shareholders in exchange for handing over FOG’s shares to TBN? The additional FOG acreage in the Beetaloo puts TBN in an excellent position to secure a highly favorable farm-out deal. This acreage makes TBN highly attractive—not just for farm-in or farm-out deals, but also as a prime takeover target for a major oil company.

When you see these numbers from Fitz, it is clear that the FOG management did not do their homework and are selling FOG premature

Based on the announcement of ExxonMobil's acquisition of Pioneer Natural Resources in October 2023, the valuation per acre is calculated as follows:

Total Transaction Value: Approximately $64.5 billion (including net debt of Pioneer).

Acreage: Over 850,000 net acres in the Midland Basin.

Value per Acre: Approximately $75,000 per acre ($64.5 billion / 850,000+ acres).!!!!!

By 2023, Pioneer had over 125 wells with lateral lengths of > 15,000 ft. This generated a 35% higher return than 10,000 ft laterals. Still had another 1,000 future locations to drill. They had 3 simulfrac fleets with another on the way and 2 localised sand mines. By end 2023, they were placing 135 wells on production per quarter.

2023: $24bn of revenue and pre-tax profit of $14bn. Capex of $4.5bn was funded from cash flow.

Unfortunately, Mr. POQ has still not managed to sell FOG at USD 1,000 per acre to date, whereas the Australian TBN shareholders are now dreaming of selling their acres ( including FOG`s acres) for USD 10,000 per acre. "USD 10k per acre is a bargain given the likely cash flows at Asian LNG netback prices".

Https://ir.tamboran.com/sec-filings/all-sec-filings/content/0001193125-26-012025/d31090dprem14a.htm

BLUEWILEY

"Oleo - TBN got the cash and FOG ain’t …."

BlueWiley, I would agree with you,

but only in the case that we as FOG shareholder would get new shares from a TBN company that got many hundres of millions $ of cash.

Instead, we will receive shares in a TBN that isn't making any money, reports negative earnings, and continues to dilute shareholders through further share issuances—meaning we, as FOG shareholders, will be diluted even further. Right?

The optimum for FOG shareholders: a white knight who offers 1,2,3 or more $ cash for every FOG share. This new holder of the 22.5% Beetaloo asset could forge a new and better cooperation agreement with TBN & Daly Waters and everybody would be happy. According to game theory and John Nash, such a solution should be possible? Why can't we achieve a win (FOG shareholders)-win (white knight) -win (TBN/Sheffield) optimum? Who decided to give up FOG too early?

On Hotcopper Fitz calculated that the new TBN CEO, Todd Abbott, could earn 25 million US$ after 3 years, assuming TBN reaches a price of 100 $/share.

Question for shareholder meeting:

FOG got 1 million net acres

TBN got 1.9 million net acres

2.9 million acre =100 % or FOG will deliver 34% of net acres

After the merger, FOG shareholders will own 26.8% of TBN. Why not closer to 34%?

January 09, 2026 510 Burrard Street, 3rd Floor

Vancouver BC, V6C 3B9

www.computershare.com

To: All Canadian Securities Regulatory Authorities

Subject: Falcon Oil & Gas Ltd.

Dear Sir/Madam:

We advise of the following with respect to the upcoming Meeting of Security Holders for the subject Issuer:

Meeting Type : Special Meeting

Record Date for Notice of Meeting : January 26, 2026

Record Date for Voting (if applicable) : January 26, 2026

Beneficial Ownership Determination Date : January 26, 2026

Meeting Date : March 03, 2026

Meeting Location (if available) : Dublin, IE

Issuer sending proxy related materials directly to NOBO: No

Issuer paying for delivery to OBO: Yes

Notice and Access (NAA) Requirements:

NAA for Beneficial Holders No

NAA for Registered Holders No

Voting Security Details:

Description CUSIP Number ISIN

COMMON 306071101 CA3060711015

Sincerely,

Computershare

---------------------------------------------------------

If approved, the acquisition will proceed and the door will be closed for a counter offer finally.

Falcon shareholders will receive 0.00687 shares of Tamboran NYSE Common Stock for every 1 Falcon Common share held.

Falcon shareholders will own approximately 26.8% of TBN.

Https://ir.tamboran.com/news-events/ir-calendar/detail/20260113-special-meeting-of-stockholders

Btl is progressing well.

but mr sheffield is selling btl shares.

https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-03034073-2A1641568&v=undefined

any ideas, explanations?

Newtofo: "POQ was the sole person that told Hess (with their 5 well program) to stuff it when they asked if they could Farm out the deal to someone else instead of drilling the wells themselves!!"

And what is FOG's justification now for failing to secure a more robust and watertight contract with ORG, which would allow FOG to reacquire the 77.5% interest? Why did FOG not enforce the contract against ORG as well (as it was done for HESS) for non-performance of their contractual obligations? Why wasn't POQ the person who told not only Hess but also ORG to stuff it?

Newtofo

What you described was not the main point, and my text was worded differently than you suggest.

The mistake made was that FOG allowed ORG to neither drill nor frac the agreed-upon wells. FOG permitted ORG to sell its stake. I can no longer recall who negotiated the contract with Hess. But ORG was aware of the Hess situation, where Hess ultimately slipped through the cracks.

In summary: The error was that FOG signed a contract with ORG that was not watertight, failing to ensure the recovery of ORG’s Beetaloo asset shares if ORG did not fulfill its obligations.

As a result, FOG lost 77.5% of its interest in the Beetaloo Basin and was consequently not in a strong position to negotiate a better sale price. FOG with 22.5%+77.5% could have done a much better deal with farmin partners.

IMO, this is a good video, worth watching all 30 minutes. https://www.youtube.com/watch?v=HFaEcTOtpB4

It explains when and why FOG`s strategy went astray. Between minutes 21, 22 to 26.

FOG had in the contract that Origin must give back their Beetaloo asset share to FOG, when and if ORG does not fulfill drilling and hydraulic fracturing a certain number of wells = good done POQ.

But than everything went wrong for us FOG share holders.

FOG allowed ORG the contractual freedom to sell their Beetaloo share without drilling and stimulating these wells!

In that video, you can see and hear how Riddell and Sheffield are laughing and can barely contain their joy at getting access to 77.5% of the Beetaloo for so cheaply, and simply by drilling two wells.

In my opinion, this was the biggest strategic mistake made by Falcon Oil and Gas , which prevented FOG from retaining control for future, better negotiation results. Here, we—the FOG shareholders—lost the chance to negotiate a subsequent farm-in deal that would have ultimately resulted in a sale price of at least US $1 per FOG share.

Do you think it is still possible to sue Origin for selling to TBN`s Riddle and Sheffield?