Exploration & Production
South Africa Lifts Ban On Shale Gas Exploration
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Falcon Oil & Gas the Toronto listed and Dublin headquartered company focused on unconventional oil and gas exploration and producing assets in Hungary, Australia and South Africa, is pleased to note that the Government of South Africa announced the lifting of the moratorium on shale gas exploration today.
Falcon holds a 100% interest in a 7.5 million acre Technical Cooperation Permit in the Southwest Karoo Basin which was granted in October 2009. In January 2011, Falcon submitted an application for an exploration right covering the same area. With the lifting of the moratorium, Falcon is now looking forward to feedback from the licensing authority regarding its application before the end of the year.
The Karoo Basin, which measures 600,000 km2 is located in central and southern South…
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