Exploration & Production | Deals - Joint Ventures | Top Story
Falcon Finalizes Beetaloo Basin Appraisal Program Post-Farmout
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In connection with its recently closed Beetaloo Basin deal, Falcon Oil & Gas has outlined the planned appraisal program.
Philip O'Quigley, CEO of Falcon commented: "I am delighted to announce we have completed the Agreements with Origin and Sasol for our transformational Farm-out of our Beetaloo acreage. Together with A$20 million cash up front, the deal is worth up to approximately A$200 million to Falcon. We look forward to the immediate commencement of the nine well exploration and appraisal program."
The farminees, Origin Oil Ltd. and Sasol Petroleum Australia Ltd., have agreed to carry Falcon in a nine well exploration and appraisal program over the next four years, detailed as follows:
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