Thanks Infojoe. This deal reminiscent of the Falcon-Exxon deal in 2008.

Highlights

The agreement area consists of approximately 25,200 square kilometers (6,227,500 acres) and will ultimately be held jointly, with Falcon Australia holding a 37.5 percent undivided working interest and Hess holding a 62.5 percent undivided working interest. Falcon Australia will retain 100 percent interest in the whole of Exploration Permit 99 consisting of approximately 2,590 square kilometers (639,300 acres), and will also retain the entire interest in the existing Shenandoah-1 wellbore in Exploration Permit 98 and approximately 405 square kilometers (100,000 acres) around the Shenandoah-1 wellbore. This will result in Falcon Australia retaining a net interest in the four exploration permits of approximately 44%.