Falcon Oil & Gas Ltd. (FOG)

Sector:

Energy Producers

Index:

FTSE AIM All-Share

8.05p
   
  • Change Today:
      0.43p
  • 52 Week High: 14.25
  • 52 Week Low: 5.20
  • Currency: UK Pounds
  • Shares Issued: 981.85m
  • Volume: 360,913
  • Market Cap: £79.04m

Falcon Oil & Gas partner identifies potential in Australian shale project

By Duncan Ferris

Date: Wednesday 21 Feb 2018

LONDON (ShareCast) - (ShareCast News) - Falcon Oil & Gas's partner company Origin Energy presented a technical paper outlining the potential of the duo's projects in the Australian Beetaloo sub-basin area.
The presentation at the Australia Exploration Geoscience Conference in Sydney, identified two zones at the Beetaloo W-1 well which Origin saw as particularly advantageous for the eventual production of commercial shale gas.

Origins' favoured of the two source rock reservoir (SRR) intervals is the lower Kyalla SRR, which it said could be conducive to successful hydraulic fracture stimulation and is likely to be wet gas which could also improve the economics of the project considerably.

The company's findings also reported that a successful lower Kyalla SRR test could lead to a 'stacked' play development with the middle Velkerri SRR which "could result in significant cost savings and an optimised surface footprint."

Philip O'Quigley, chief executive of Falcon, said: "Today's announcement is encouraging and follows the February 2017 discovery evaluation report publication on the existence of a material gas resource in the middle Velkerri formation. We look forward to the final report from the scientific inquiry into hydraulic fracturing due to be published in March and the Northern Territory Government's response to the final report before determining the forward exploration / appraisal program."

Headquartered in Dublin, Falcon Oil & Gas seeks to use its expertise of the unconventional oil and gas industry to acquire and develop licences, and to expand its international portfolio which contains interests in Australia, South Africa and Hungary.

As of 1642 GMT, Falcon's shares were up 10.29% at 16.88p.

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FOG Market Data

Currency UK Pounds
Share Price 8.05p
Change Today 0.43p
% Change 5.57 %
52 Week High 14.25
52 Week Low 5.20
Volume 360,913
Shares Issued 981.85m
Market Cap £79.04m

FOG Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
10.41% below the market average10.41% below the market average10.41% below the market average10.41% below the market average10.41% below the market average
48.89% below the sector average48.89% below the sector average48.89% below the sector average48.89% below the sector average48.89% below the sector average
Price Trend
68.99% below the market average68.99% below the market average68.99% below the market average68.99% below the market average68.99% below the market average
14.00% above the sector average14.00% above the sector average14.00% above the sector average14.00% above the sector average14.00% above the sector average
Income Not Available
Growth Not Available

What The Brokers Say

Strong Buy 2
Buy 0
Neutral 1
Sell 0
Strong Sell 0
Total 3
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

FOG Dividends

No dividends found

Trades for 29-May-2020

Time Volume / Share Price
16:28 15,000 @ 8.10p
16:24 50,000 @ 8.10p
16:16 44,909 @ 8.00p
16:15 1,617 @ 8.10p
15:13 15,000 @ 8.05p

FOG Key Personnel

CEO Philip O'Quigley
Chair Joachim Conrad
CFO Michael Gallagher

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