Exploration & Production | Deals - Joint Ventures | Top Story
Falcon Optimistic on Landing Karoo Basin Exploration License
Print
|
Falcon Oil & Gas Ltd. has reported an operational update on its progress in South Africa's Karoo Basin.
The company is currently awaiting award of an unconventional exploration license in the Karoo Basin. Falcon continues to work under the Cooperation Agreement with Chevron Corp.
Falcon expects the conversion of its Technical Cooperation Permit (TCP) to an Exploration Licence to take place in the near term.
Recent comments from Rob Davies, Minister for Trade and Industry are encouraging in that regard: "We need to advance the work on taking a decision on shale gas exploration. We want to move before the end of this administration."
In the meantime Falcon is working closely with Chevron under the Terms of the December 2012 Cooperation Agreement.
Philip O'Quigley, CEO of Falcon commented: "W…
- ✓ Full news archive — U.S., Canada & international coverage
- ✓ A&D transactions — asset deals, corporate M&A, assets for sale
- ✓ Permits & completions data, plus 900,000+ slides & presentations