Falcon Oil & Fuel Ltd.
Beetaloo Operational Replace
21 September 2020 – Falcon Oil & Fuel Ltd. (TSXV: FO, AIM: FOG) (“Falcon”) offers the next operational replace on the Beetaloo mission within the Northern Territory, Australia.
Kyalla liquids-rich fuel play
Operations have recommenced at Kyalla 117 N2-1H ST2 (“Kyalla 117 properly”) with the fracture stimulation of the properly, prolonged manufacturing testing to observe. Preliminary manufacturing take a look at outcomes are anticipated throughout This autumn 2020 with closing outcomes anticipated by the top of Q1 2021. These outcomes will inform the choice to both additional consider this liquids-rich fuel play or start actions within the Velkerri liquids-rich fuel play.
Philip O’Quigley (CEO of Falcon) commented:
“We stay up for the following part of operations with the manufacturing testing of the Kyalla 117 properly and can replace the market as outcomes grow to be out there.”
|Falcon Oil & Fuel Ltd.||+353 1 676 8702|
|Philip O’Quigley, CEO||+353 87 814 7042|
|Anne Flynn, CFO||+353 1 676 9162|
|Cenkos Securities plc (NOMAD & Dealer)|
|Neil McDonald / Derrick Lee||+44 131 220 9771|
This announcement has been reviewed by Dr. Gábor Bada, Falcon Oil & Fuel Ltd’s Head of Technical Operations. Dr. Bada obtained his geology diploma on the Eötvös L. College in Budapest, Hungary and his PhD on the Vrije Universiteit Amsterdam, the Netherlands. He’s a member of AAPG.
About Falcon Oil & Fuel Ltd.
Falcon Oil & Fuel Ltd is a global oil & fuel firm engaged within the exploration and improvement of unconventional oil and fuel property, with the present portfolio centered in Australia, South Africa and Hungary. Falcon Oil & Fuel Ltd is integrated in British Columbia, Canada and headquartered in Dublin, Eire with a technical crew primarily based in Budapest, Hungary.
Falcon Oil & Fuel Australia Restricted is a c. 98% subsidiary of Falcon Oil & Fuel Ltd. Falcon Oil & Fuel Australia Restricted and a wholly-owned subsidiary of Origin Vitality Restricted (ASX: ORG) (“Origin Vitality”) are three way partnership companions in respect of the Beetaloo mission.
About Origin Vitality
Origin Vitality is a number one Australian built-in power firm. Origin is a number one power retailer with roughly 4.2 million buyer accounts, has roughly 7,500 MW of energy technology and storage capability and is a big pure fuel provider. Origin can also be the upstream operator of Australia Pacific LNG, which provides pure fuel to Australian home markets and exports LNG beneath long run contracts.
Glossary of phrases
LNG Liquefied pure fuel
Advisory concerning ahead trying statements
Sure data on this press launch might represent forward-looking data. Any statements which might be contained on this information launch that aren’t statements of historic reality could also be deemed to be forward-looking data. Ahead-looking data usually comprises statements with phrases resembling “might”, “will”, “ought to”, “anticipate”, “intend”, “plan”, “anticipate”, “imagine”, “estimate”, “initiatives”, “dependent”, “potential”, “scheduled”, “forecast”, “outlook”, “funds”, “hope”, “help” or the adverse of these phrases or comparable phrases suggesting future outcomes. This data is predicated on present expectations which might be topic to vital dangers and uncertainties which might be troublesome to foretell. Such data might embody, however isn’t restricted to, feedback made with respect to the kind, quantity, schedule, stimulating, testing and targets of the wells to be drilled within the Beetaloo Sub-basin Australia, the prospectivity of the Velkerri and Kyalla performs and the prospect of the exploration programme being dropped at commerciality, dangers related to fluctuations in market costs for shale fuel; dangers associated to the exploration, improvement and manufacturing of shale fuel reserves; basic financial, market and enterprise circumstances; substantial capital necessities; uncertainties inherent in estimating portions of reserves and assets; extent of, and price of compliance with, authorities legal guidelines and rules and the impact of modifications in such legal guidelines and rules; the necessity to receive regulatory approvals earlier than improvement commences; environmental dangers and hazards and the price of compliance with environmental rules; aboriginal claims; inherent dangers and hazards with operations resembling mechanical or pipe failure, cratering and different harmful circumstances; potential value overruns, drilling wells is speculative, usually involving vital prices which may be greater than estimated and will not lead to any discoveries; variations in overseas change charges; competitors for capital, gear, new leases, pipeline capability and expert personnel; the failure of the holder of licenses, leases and permits to fulfill necessities of such; modifications in royalty regimes; failure to precisely estimate abandonment and reclamation prices; inaccurate estimates and assumptions by administration and their three way partnership companions; effectiveness of inside controls; the potential lack of obtainable drilling gear; failure to acquire or preserve key personnel; title deficiencies; geo-political dangers; and threat of litigation.
Readers are cautioned that the foregoing checklist of necessary components isn’t exhaustive and that these components and dangers are troublesome to foretell. Precise outcomes may differ materially from outcomes prompt in any forward-looking statements. Falcon assumes no obligation to replace the forward-looking statements, or to replace the explanation why precise outcomes may differ from these mirrored within the ahead looking-statements until and till required by securities legal guidelines relevant to Falcon. Further data figuring out dangers and uncertainties is contained in Falcon’s filings with the Canadian securities regulators, which filings can be found at www.sedar.com, together with beneath “Danger Elements” within the Annual Data Kind.
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