Australia Photo Gallery > Through its 73% owned subsidiary Falcon Oil & Gas Australia Limited, Falcon holds Exploration Permits EP 99, 98, 117, and 76, covering approximately seven million acres in the Beetaloo Basin in the Northern Territory, Australia. Falcon has identified six active petroleum systems in the basin with world class shale oil and gas resource as well as conventional potential in excess of 18 billion barrels of oil and 64 TCF.For detailed information on Falcon’s operations in the Beetaloo Basin, Australia, please go to the website for Falcon Oil & Gas Australia Limited, located at www.falconaustralia.com.au. Falcon/Hess Joint Venture Area
In July 2011, Falcon Australia secured a Joint Venture with a subsidiary of exploration company Hess Corporation in EP 76, 117, and the majority of EP98 covering an area of approximately 6,225,000 acres. Under terms of the agreement, Hess Australia will acquire an extensive 2D seismic program. Hess may then elect to earn a 62.5 percent ownership in the joint venture by drilling a series of five wells to explore and appraise the area.
News release: Falcon Announces the Closing of the Beetaloo Basin Transaction with Hess > Shenandoah Area
Falcon Australia owns 100% interest in 100,000 acres surrounding the Shenandoah-1 well in the center of the Beetaloo Basin. This area is now referred to as the Shenandoah Area. In Q4 of 2011, Falcon conducted vertical tests on five intervals from the existing Shenandoah-1 wellbore. Data gathered from these tests will help guide our planning of future wells in this area.
News release: Falcon Announces Completion of Testing at Shenandoah-1 > Video of Mid Velkerri Shendandoah-1 flare EP 99
Falcon Australia holds 100 percent interest EP99, the 650,000 acre permit located in the southernmost part of the basin. Technical work is ongoing to determine the optimum program for exploring EP99 with plans to include a seismic survey program in 2012. |
 |