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An announcement from Falcon Oil & Gas ( (TSE:FO) ) is now available.
Falcon Oil & Gas Ltd. announced that its joint venture partner, Tamboran (B2) Pty Limited, has received approval from the Northern Territory Government for the Beneficial Use of Gas agreement. This approval allows the sale of appraisal gas from the Shenandoah South Pilot Project, marking the first approval under the new legislation. The agreement permits the sale of up to 60 TJ per day over three years, with an initial supply of 40 MMcf/d contracted to the Northern Territory Government until 2041, enhancing energy security. The approval facilitates the construction of the A$140 million Sturt Plateau Compression Facility, with gas sales expected to commence in mid-2026. Additionally, the 2025 drilling campaign progresses with successful drilling in the Beetaloo Basin, where Falcon has reduced its interest to 0% in three wells to avoid cost exposure.
More about Falcon Oil & Gas
Falcon Oil & Gas Ltd. is an international oil and gas company engaged in the exploration and development of unconventional oil and gas assets, with a focus on Australia. The company is incorporated in British Columbia, Canada, and headquartered in Dublin, Ireland. Falcon Oil & Gas Australia Limited is a subsidiary of Falcon Oil & Gas Ltd.
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