2022-01-25 06:59 ET - News Release 

Mr. Philip O'Quigley reports

FALCON OIL & GAS LTD. -- PLANNED STAGE 3 WORK PROGRAMME -- BEETALOO SUB-BASIN

Falcon Oil & Gas Ltd. has provided details of the stage 3 work program in the Beetaloo subbasin, Northern Territory, Australia, with its joint venture partner, Origin Energy B2 Pty. Ltd., a wholly owned subsidiary of Origin Energy Ltd.

2022 will see Falcon and Origin progressing to the Stage 3 work programme of the restated Farm-Out Agreement. , which will include the drilling, fracture stimulation and extended production test of two horizontal wells.

Stage 3 Planned Work Programme includes:

• acquisition of 40 km2 of 3D seismic survey on the Amungee NW-1H well lease area;
• drilling two 2,000+ metre horizontal wells on the Amungee NW-1H pad, targeting the Amungee Member (formerly knowns as the Middle Velkerri) B Shale;
• fracture stimulation of both horizontal wells;
• extended production testing of between 90 and 180 days on each well;
• follow up core and log analysis of the very encouraging preliminary evaluation of the 2021 Velkerri 76 well results; and
• further evaluation of the results of the Kyalla 117 N2-1H well to better understand the issues encountered during testing in 2021.

Stage 3 Drilling and 3D Programme Objectives 

• The acquisition and interpretation of 3D seismic will be used to:
  • plan the drilling of the 2022 wells and any future horizontal wells in the area;
  • optimise horizontal well trajectories; and
  • assess the viability of future 3D surveys in the Basin.
• The two horizontal wells are being designed to:
  • demonstrate scalability of the Amungee NW-1H results over longer laterals; and
  • establish operational and cost efficiencies by drilling more than one well from the same pad.

Philip O'Quigley (CEO of Falcon) commented: "This is an extremely important period for the Beetaloo Sub-Basin and we are delighted to have confirmed a high-impact, extensive and really exciting work programme for the joint venture.

We will be focusing our attention on the Amungee Member B Shale, following the 2021 results at Amungee NW-1H, which suggested a normalised gas flow rate equivalent to around 5,000 Mscf/d per 1,000m of horizontal section; a potentially commercial flow rate. Falcon remains largely (circa 75%) carried for 2022, with the balance of costs being funded from existing resources. Positive results here will provide a further line of sight to the commercialisation of the Beetaloo and could lead to a pilot development program in 2023. Confirmation on the commencement on the Stage 3 work programme will be provided in the coming months as scheduling is refined.

In addition to our own acreage, we also look forward to the gas flow results from the current testing of two wells in the neighbouring Santos-operated EP 161, also targeting the Amungee Member dry gas play. We expect these results to be communicated to the market shortly and believe that these will prove to be another important moment for the nationally significant Beetaloo Sub-Basin."

2021-11-12 09:18 ET - News Release 

Mr. Philip O'Quigley reports

FALCON OIL & GAS LTD. - PRELIMINARY PETROPHYSICS AND MUD GAS COMPOSITION FROM VELKERRI 76 S2-1 WELL

Falcon Oil & Gas Ltd. has provided details on the preliminary petrophysical interpretation and mud gas composition data from the Velkerri 76 S2-1 vertical appraisal well in the Beetaloo subbasin, Northern Territory, Australia, with the company's joint venture partner Origin Energy B2 Pty. Ltd., a wholly owned subsidiary of Origin Energy Ltd.

On Oct. 15, 2021, the company announced that drilling of the Velkerri 76 well had been completed and preliminary evaluation of the results had been very encouraging.

The preliminary petrophysical interpretation of the Velkerri-76 wireline logs has now been carried out, which has confirmed positive indications in particular from the B shale of the Amungee member (formerly known as the Middle Velkerri). Other intervals within the Amungee member also show positive indications and further analysis will now be undertaken to confirm these results.

The Amungee member B shale was the principal area of focus with Falcon's operations at Amungee NW-1H and the results obtained to date compare very favourably with some of the most commercially successful shale plays in North America. The Amungee Member B shale is also the focus of activities in the neighbouring Santos and Empire Resources operated blocks.

Mud gas composition data also provides evidence that the Amungee member is within the wet gas maturity window and contains good LPG yields and high heating gas value.

Key information with respect to the preliminary petrophysics and mud gas composition of the Amungee member B shale are included in the attached table.

The results of preliminary petrophysical interpretation confirm: 

• The prospectivity of the Amungee member B shale.
• Reservoir quality of the B shale (TOC, porosity and gross thickness) compares strongly with commercial shale plays in the United States.
• The Velkerri 76 S2-1 well provides yet another robust data point for the joint venture to consider various commercialization options across its permits.

Additional analysis of the conventional core acquired during the drilling of Velkerri 76 will be required to confirm the preliminary petrophysics interpretation and will take place over the coming months.

Laboratory analysis of gas samples collected during drilling will be carried out to further refine gas composition data within the Amungee member shale intervals. 

Philip O'Quigley, chief executive officer of Falcon, commented: "The preliminary petrophysical interpretation of the Velkerri 76 wireline logs is excellent news with the Middle Velkerri B shale comparing favourably to some of the most commercially successful shale plays in North America. These results are further evidence of the increasing significance of the Velkerri play, with results still to come from flow testing of two horizontal wells at the neighbouring Santos-operated blocks also targeting the Velkerri play."

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I could have predicted in advence the arrival of Boo-birds also known as the Backroomroom Boy's minions. They will try to convince you that the precious stone in your hand is nothing but a piece of black coal.

2021-09-03 06:02 ET - News Release

Mr. Philip O'Quigley reports

FALCON OIL & GAS LTD. - AMUNGEE NW-1H - NORMALISED GAS FLOW RATE EQUIVALENT TO 5 MMSCF/D PER 1,000M HORIZONTAL

Falcon Oil & Gas Ltd. has provided results of the production log test at the Amungee NW-1H well. The results suggest a normalized gas flow rate equivalent of between 5.2 million to 5.8 million standard cubic feet per day per 1,000 metres of horizontal section.

Amungee is located in the Beetaloo subbasin, Northern Territory, Australia, and the testing conducted is part of the 2021 work program, which is operated by Falcon's joint venture partner, Origin Energy B2 Pty. Ltd., a wholly owned subsidiary of Origin Energy Ltd.

Amungee background: 

• It is located in exploration permit 98, approximately 60 kilometres east of Daly Waters, just south of the Carpentaria Highway.
• It was the first horizontal well to be drilled and first well to be fracked with Falcon's JV partner and operator, Origin.
• In November, 2015, the JV successfully drilled the well to a total measured depth of 3,808 m, including a 1,100 m horizontal section.
• In September, 2016, 11 hydraulic stimulation stages were completed along the horizontal section in the Middle Velkerri B shale zone.
• In December, 2016, a 57-day extended production test (EPT) was completed, with production averaging 1.10 mmscf/d.
• In February, 2017, the results of evaluation of the discovery and preliminary estimate of petroleum in place were published for the Velkerri B shale gas pool, confirming a gross contingent resource of 6.6 trillion cubic feet, 1.46 trillion cubic feet net to Falcon; full details are contained in Falcon's annual information form. 

Details of Amungee testing: 

• The well was successfully put back on production testing on Aug. 7, 2021.
• Initial flow rates during the first 48 hours of testing ranged between two million and four million standard cubic feet per day with rates averaging 1.23 mmscf/d over the first 23 days.
• A PLT was run on Aug. 19, 2021, to 3,098 metres measured depth, just prior to the casing deformation at 3,112 m md.
• The PLT data confirm that: Only 5 to 15 per cent of the production came from stages 1 to 7 beyond the casing deformation point at 3,112 m md. Eighty-five to 95 per cent of the production came from stages 8 to 11, spanning a 200 m horizontal section, prior to the casing deformation.
• The low contribution from stages 1 to 7 is likely the result of a restriction caused by the casing deformation or the plugs having not milled out, or both.
• Conclusion: Stages 8 to 11 may be representative of the deliverability that can be achieved within the Middle Velkerri B shale at Amungee.
• The PLT test results equate to a normalized gas flow rate of between 5.2 million and 5.8 million standard cubic feet per day per 1,000 m of horizontal section.
• A typical future production well would be likely to have a horizontal production section of up to three kilometres.
• The result validates the decision to undertake a second EPT in order to run a PLT. 

Philip O'Quigley, chief executive officer of Falcon, commented: "With our unique and extensive position in the Beetaloo subbasin, this is really exciting news for Falcon shareholders and this significant development provides line of sight to the commercialization of the Beetaloo, for which we remain carried for further activity.

"A recent report by an industry analyst suggests that gas flows greater than three mmscf/d from a 1,000 m horizontal well are required to demonstrate the commerciality of the Beetaloo. Not only does this test result significantly exceed these parameters and significantly increase our assessment of the Velkerri dry gas play, but it also puts the Beetaloo on a par with other shale gas basins in North America.

"While we wait for further news from our operations at Kyalla 117 N2-1H ST2 and Velkerri 76 S2-1, we look forward to working with our JV partner, Origin, in establishing the next phase of work on the Middle Velkerri B shale.

"With other drilling activity in neighbouring Santos-operated blocks targeting the Velkerri dry gas play, this is an important moment for the nationally significant Beetaloo subbasin."

Take away:

Do not sell any of your Falcon shares under $10.00

The Beetaloo Strategic Basin Plan released as part of the gas-fired economic recovery 

For blind minions…..see link below

https://falconoilandgas.com/company-presentations/#1541158622782-52acf8a2-2f7

Sooo.. If you Boys want our shares you can start paying $10.00 

So hold and do not sell any of your shares under $10.00 

Apparently the manipulators are back. Many thanks to the BackroomBoys to prove just how badly they yearn to possess your Falcon shares.