Falcon Oil and Gas

Rig contract signals start of 2019 Beetaloo drilling campaign

  • Sectors : Resource
  • Companies : Falcon Oil and Gas

Ratings and price correct at time of issue.

  • Falcon Oil and Gas

    Closing Price: 19.8p

  • RATING 28/01/13

  • PREVIOUS RATING N/A

DAVY VIEW

Following a protracted delay due to a drilling moratorium, the rig selection confirms that the Beetaloo project is underway once again. Drilling this year will enable a commercial decision to be made as to which of the three targets identified in the Beetaloo will be pursued into stage 3. This will enable a full assessment of the plays and maximise the basin’s commercial potential. Shareholders will welcome the return to drilling activity, and the news is positive for the share price.

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Jan 21 2019, 08:35 GMT

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