2022-10-11 02:00 ET - News Release

Falcon Oil & Gas Ltd.
("Falcon" or "Company")

Binding Letter of Intent Executed with New Joint Venture Partner

11 October 2022 - Falcon Oil & Gas Ltd. (TSXV: FO, AIM: FOG) is pleased to announce that its c.98% owned subsidiary, Falcon Oil & Gas Australia Limited ("Falcon Australia"), has entered into a binding Letter of Intent ("LOI") with Tamboran (B1) Pty Limited ("Tamboran"), a joint venture between Sheffield Holdings LP and Tamboran Resources Limited, pursuant to which the parties have agreed to amend the terms of the Joint Operating Agreement ("JOA") and the Farm-In Agreement ("FIA"), each dated 2 May 2014 (as amended), entered into with Origin Energy B2 Pty Ltd ("Origin") in respect of Falcon Australia's interest in the Beetaloo Sub-Basin exploration permits.

The Board believes that the proposed amendments to the FIA and JOA will significantly improve Falcon's future capital preservation and optionality. The key terms of the LOI provide for:

• Falcon Australia to earn an additional carry on future well costs of up to AU$30m (AU$6.75m net to Falcon Australia);
• the introduction of limited proration units on sole risk operations to a maximum of 6,400 acres per well, providing Falcon Australia with participation optionality on the drilling of future wells;
• the sharing of well data on any sole risked wells, providing Falcon Australia with visibility on crucial data and analysis even where it elects not to participate; and
• pre-emptive rights in relation to Origin's divestment of its 77.5% interest in the Beetaloo Sub-basin announced on 19 September 2022 are not to be exercised by Falcon Australia and all pre-emptive and similar rights are to be removed from the JOA, providing Falcon Australia with greater flexibility for realisation of licence interests.

The parties will now proceed to negotiate and agree fully termed amendments to the JOA and the FIA reflecting the terms of the LOI.

Drilling of the first of the two Stage 3 wells will commence shortly with Falcon Australia still benefiting financially from the remainder of the carry under the existing FIA and JOA with Origin.

Philip O'Quigley, Falcon's CEO,commented:

"Falcon Australia welcomes its new JV partners,Sheffield Holdings and Tamboran Resources. While our immediate focus is on the two Stage 3 Amungee wells, we are really excited about the future pace of development of the Beetaloo. The proposed amendments to the FIA and JOA puts Falcon in a very strongposition going forward creating optionality for our shareholders in terms of the level of participation in any future appraisal and development drilling. Each future well drilled in the Beetaloo basin play further de-risks the play and, as a result of the proposed changes contemplated by the LOI, Falcon can tailor its participation tobest preserve its capital while at the same time maximising its optionality."

Investor Meet Q&A
Falcon will provide a live Investor Q&A with Philip O'Quigley via the Investor Meet Company platform today, 11 October 2022 at 10:00am BST.

The presentation is open to all existing and potential shareholders, and questions can be submitted at any time during the live presentation.

Investors can sign up to Investor Meet Company for free and add to meet Falcon Oil & Gas Ltd. via:
https://www.investormeetcompany.com/falcon-oil-gas-ltd/register-investor

Investors who already follow Falcon Oil & Gas Ltd. on the Investor Meet Company platform will automatically be invited.

A recording of the presentation will be made available on the Investor Meet Company platform and the Company's website later today.

This contains inside information.

Ends.

CONTACT DETAILS:

About Falcon Oil & Gas Ltd.
Falcon Oil & Gas Ltd is an international oil & gas company engaged in the exploration and development of unconventional oil and gas assets, with the current portfolio focused in Australia, South Africa and Hungary. Falcon Oil & Gas Ltd is incorporated in British Columbia, Canada and headquartered in Dublin, Ireland with a technical team based in Budapest, Hungary.

Falcon Oil & Gas Australia Limited is a c. 98% subsidiary of Falcon Oil & Gas Ltd.

For further information on Falcon Oil & Gas Ltd. please visit www.falconoilandgas.com

About Tamboran (B1) Pty Limited
Tamboran (B1) Pty Limited is a 50:50 joint venture between Tamboran Resources Limited and Sheffield Holdings, LP.

Tamboran Resources Limited, founded in 2009, is a public natural gas company listed on the ASX (TBN) and OTC markets (TBNNY). It has a vision of supporting the net zero CO2 energy transition in Australia and Asia-Pacific through developing low CO2 unconventional gas resources in the Northern Territory of Australia. It is headquartered in Sydney, Australia with a global management team leveraging a significant depth of experience in the successful commercialisation of unconventional gas throughout North America. The team brings a wealth of knowledge, including modern shale reservoir assessment, as well as cutting-edge drilling and completion design technology.

Bryan Sheffield of Sheffield Holdings LP is a highly successful investor and has made significant returns in the US unconventional energy sector in the past. He was Founder of Parsley Energy Inc. ("PE"), an independent unconventional oil and gas producer in the Permian Basin, Texas and previously served as its Chairman and CEO. PE was acquired for over US$7 billion by Pioneer Natural Resources Company ("Pioneer"), itself a leading independent oil and gas company and with the PE acquisition became a Permian pure play company. Pioneer has a current market capitalisation of c. US$60 billion.

Take away: Do not sell under $10.00

2022-03-31 02:00 ET - News Release 

Falcon Oil & Gas Ltd.
("Falcon" or the "Company")

US$10 million Private Placement with US Strategic Investor
And
US$6 million Acquisition of Overriding Royalty Interest

NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES

31 March 2022 - Falcon Oil & Gas Ltd. (TSXV: FO, AIM: FOG) is pleased to announce that it has received a subscription from Sheffield Holdings LP ("Sheffield") for a US$10 million private placement through the issue of 62,500,000 Common Shares ("the Placing Shares") at a price of CAD$0.20 per share ("the Placing"). Following the placement Sheffield will hold a total of 90,443,607 Common Shares of Falcon, representing 8.66% of Falcon's issued and outstanding Common Shares.

Falcon Oil & Gas Australia Limited ("Falcon Australia") has also agreed to grant Sheffield a 2% overriding royalty interest ("ORRI") over Falcon Australia's 22.5% working interest in the Beetaloo Sub-Basin exploration permits in return for a cash payment of US$6 million. The 2% ORRI is being granted to Sheffield calculated on equal economic terms as the existing 3% ORRI with the TOG Group. The cash proceeds of US$6 million will be used to exercise Falcon Australia's call option to reduce the existing ORRI with the TOG group from 3% to 1%, which is expected to take place before 30 April 2022. The assets subject to the ORRI are not currently revenue generating and there are no profits or losses attributable to them. These changes to the ORRI's, will be submitted to the Northern Territory Government, Australia for registration.

Details of the Placing
The completion of the Placing is subject to approval of the TSX Venture Exchange. A further update on Admission will be provided in due course. The Placing Shares will not trade on the TSX Venture Exchange Market until the date that is four months and a day after the day of issuance. The Company's total issued share capital following Admission will be 1,044,347,425 Common Shares. The information contained within this Announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this Announcement this inside information is now considered to be within the public domain.

The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United State or to, of for the account or benefit of, U.S. persons absent registrations or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in which such offer, solicitation or sale would be unlawful.

Use of Funds
The Placing will add US$10 million to the Company's cash balance of US$8.4 million as at 28 February 2022, which leaves Falcon in a strong financial position well ahead of future decisions on the Beetaloo project.

Philip O'Quigley (CEO of Falcon) commented:
"Falcon is very pleased that Bryan Sheffield of Sheffield Holdings LP has increased his strategic stake in the Company at this time. Bryan is a highly successful investor and has made significant returns in the US unconventional energy sector in the past. He was Founder of Parsley Energy Inc. ("PE"), an independent unconventional oil and gas producer in the Permian Basin, Texas and previously served as its Chairman and CEO.

PE was acquired for over US$7 billion by Pioneer Natural Resources Company ("Pioneer"), itself a leading independent oil and gas company and with the PE acquisition became a Permian pure play company. Pioneer has a current market capitalisation of c. US$60 billion."

Bryan Sheffield of Sheffield Holdings LP commented:
''Falcon and its partner have the largest acreage (4.6 million acres) position centred over the Beetaloo Sub-Basin. The Beetaloo is emerging as a world class shale gas basin with stacked pay potential from several shale intervals. Flow tests from the B Shale of the Amungee Member have confirmed a productive dry gas system in place. Geologic and engineering data from test wells across the Sub- basin have similar properties to some of the highly successful shale gas plays in the United States. The Beetaloo Sub-Basin is still in the exploration and appraisal phase, but with continued good well results, Falcon is well positioned to become a key supplier of low carbon energy to Australia and to the world within a few short years. I am delighted to have this opportunity to acquire a significant interest in Falcon and gain exposure to their net 1 million acres in what may become one of the biggest shale plays in the world.''

Take away: Do not sell under $10.00

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."

.

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

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

You are in good company.

Keep in mind:

Vested interest... 

 Toronto, finacial hub of Canada. The Exchange Tower, 36 storey high, dwarfed by nearby skyscrapers. The TSX located on the third floor. Hundreds of market makers busily working at their stations. A gofer rushing  through the complex with an oversized box of Tim Horton donuts, a special delivery to the "Backroom" where the Backroom Boys plotting their moves. As soon as the gofer left the room the boys attacked the box of donuts, in the frenzy no one noticed the fat fly nonchalantly flew out the box and settled on the wall.

Suddenly the backroom head honcho walks in, he looks very angry. He looked angrier than Trump did on wendesday.

-We should fire you all. We did everything for you, we setup everything for you, With the help of other interested parties, we supressed all informations coming out of australia, All you had to do is just screw the little investors. But no, you didn't deliver. You..you... you... you are schmendricks!!!

Then ...the head hocho stormed out

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

It is a luxurious alpine retreat in the Swiss mountains. A man standing at the window looking at the mountain peaks in the distance.

Another man, older, sits in a Wingback leather chair.The two men, both billionaires, are friends. The older man is the founder of Falcon Oil and Gas. The man at the window is Falcon’s largest shareholder.

The fly perches on the leather chair behind the elderly man’s head.

“A penny for your thoughts, Victor” says the old man. “You sure look distracted today.”

“Oh, I’m more than distracted, Mark. I’m done right annoyed.”

“Annoyed with what?” says the old man.

“With these long-term investors. No matter what we’re throwing at them, they just aren’t selling. ”

“Well Victor, we did everything within our power, like creating the AIM Listing for the sole purpose of shepherding Falcon’s stock price in Toronto. But that doesn’t work. You can’t move a battleship with a fishing boat. Our friends the market agents can’t get the job done either. Churning is a zero sum game. I think those long-term investor are determined to hold, and you better get used to it. Besides, you just picked up 38 million shares for 0.207 cents and I believe that was a steal. “

“Yeah I know Mark. Except I can’t get used to the idea rubbing shoulders with 13,000 new millionaires. “

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

The Exchange Tower is a 36 storey tower. The elevator stops on the third floor, as the elevator door opens the fly quickly escapes from the confinement into the half acre office complex, home to hundreds of Market Makers. Immediately the fly makes a beeline through an open door for the donuts on the sideboard. This room is no ordinary room. This room is the fabled ‘back-room’ where only a select few, to the outside world Faceless-Backroom-Boys ply their trade.

The meeting is over, a dozen or so FBB’s about to leave the room, just then the chief FBB calls back his number one FBB.

“ Number One, give me the year to date report on our Cinderella stock Falcon. You should know that our biggest investors are getting impatient.”

“Well Chief, which one do you want to hear first, the good news or the bad news?”

“Ok, give me the bad news first.”

“I have to tell you up front that we’re using every available tool in the toolbox but the result is still the same as it was all of last year, no one is selling. Hence we have to prime the sluice; consequently we end up hemorrhaging our pool of shares to smart long-term investors.”

“Look Number One, I don’t want to hear about smart investors, just use our double talking minions and find more tools in that toolbox and get results. Our purpose is to profit, so screw the public. We’re the market makers, and that’s what we do.”

“More like Robber Barons”

“I hope that was just a tongue in cheek remark, not some sort of guilt trip.”

“Of course not”

“Ok Number One. So what’s the good news?”

“Just picked up some more Falcon in my private account”

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

Same city, Toronto, also known as The Big Smoke. Same Exchange Tower, 36 storey high. Same half acre office complex on the third floor, home to hundreds of Market Makers. Same special ‘back-room’ where Faceless-Backroom-Boys ply their trade.

However, the time is 6 months later and the donuts on the sideboard was freshly delivered from Tim Hortons. So was the Fly in that same box.

The Chief FBB has a visitor, a CEO from a large capital investment firm.

“ What’s the status of my 50 million shares order of Falcon I placed last year, Chief?”

“ I’m sorry to say, but there isn’t any for you. Neither to anyone.” says the chief.

“ Explain, how’s that possible?”

“Let me ask you first, what’s the reason you are so keen to get 50 million shares of Falcon?”

“ Well, Falcon has 200 TCF of gas and 21 billion barrels of oil assets in Australia and Hungary. So, when it’s becomes proven, we’re talking 300 billion dollars value at minimum. Am I right, Chief?”

“So then, in your answer lies the explanation. When Falcon’s play becomes proven, Falcon itself will be worth 100 billion dollars. This fact and the fact that Falcon’s 4 largest investors own about 430 million shares of Falcon haven’t been lost on the other 13,000 long term investors.”

“ So you are saying that I’m out of luck. So then tell me what would I have to pay if I want to fill my order in the coming week?”

“North of 3 dollars and I’ll gladly accommodate you.”

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

Target Price $10.00+++

Present non-backroom value is $10.00.

There are 13,000 long-term investors following this Forum. And this fact, as a matter of course bothers the backroom boys.

We, the 13,000 long-term investors holding stronger than ever. Like Renova..like Burlingame...like Persistency.. like Sweetpea...like Nicolas Mathys

You can find me on this chart, I'm one of the 13,000.

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

You are in very good company.