Falcon Oil & Gas Australia Limited (“Falcon Australia”) is a majority owned subsidiary of Falcon Oil & Gas Ltd,
Falcon Australia is an Australian unlisted public company, engaged in the exploration and development of world class conventional and unconventional oil & gas resources in the Beetaloo Basin, Northern Territory.
Falcon Australia holds a 100 percent interest in approximately 4.6 million acres comprised of Exploration Permits 98, 76, and 117 covering the majority of the Beetaloo Basin.
On 2 May 2014, Falcon Oil & Gas Australia Ltd. (“Falcon Australia”) executed Definitive Agreements including a Farm-Out Agreement and Joint Operating Agreements (collectively “the Agreements”) with Origin Energy Resources Limited, a subsidiary of Origin Energy Limited (“Origin”) and Sasol Petroleum Australia Limited, a subsidiary of Sasol Limited (“Sasol”), collectively referred to herein as “the Farminees”, to each farm into 35% of Falcon’s Exploration Permits in the Beetaloo Basin, Australia (“the Permits”). The Agreements are subject to conditions inter alia Government, statutory authority consents and relevant Stock Exchange approvals.