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Falcon Oil & Gas ( (TSE:FO) ) has shared an update.
Falcon Oil & Gas Ltd. has received shareholder approval at a general meeting in Brisbane for the sale of its 98.1% stake in its subsidiary Falcon Oil & Gas Australia Limited to Tamboran Resources Corporation, a move that advances Tamboran’s consolidation of Falcon’s Australian operations. This divestment forms part of a wider transaction under which Tamboran intends to acquire all Falcon subsidiaries, and Tamboran’s increased holding will enable it to compulsorily acquire the remaining minority shares in Falcon Australia on terms no less favorable than those agreed with Falcon, removing a key condition precedent and keeping the full deal on track to close in the first quarter of the year.
More about Falcon Oil & Gas
Falcon Oil & Gas Ltd. is an international oil and gas company focused on the exploration and development of unconventional oil and gas assets, with a portfolio concentrated in Australia, South Africa and Hungary. The company is incorporated in British Columbia, Canada and headquartered in Dublin, Ireland.
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