Falcon Oil & Gas Ltd. (FOG)

Sector:

Energy Producers

Index:

FTSE AIM All-Share

   Trade now with Barclays Stockbrokers   Trade now with Barclays   Sponsored by Barclays Stockbrokers

14.03p
   
  • Change Today:
    -0.025p
  • 52 Week High: 25.00
  • 52 Week Low: 13.80
  • Currency: UK Pounds
  • Shares Issued: 931.30m
  • Volume: 29,309
  • Market Cap: £130.62m
  • Beta: 0.45

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.

Email this article to a friend

or share it with one of these popular networks:


Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

FOG Market Data

Currency UK Pounds
Share Price 14.03p
Change Today -0.025p
% Change -0.18 %
52 Week High 25.00
52 Week Low 13.80
Volume 29,309
Shares Issued 931.30m
Market Cap £130.62m
Beta 0.45

FOG Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
24.66% below the market average24.66% below the market average24.66% below the market average24.66% below the market average24.66% below the market average
49.47% below the sector average49.47% below the sector average49.47% below the sector average49.47% below the sector average49.47% below the sector average
Price Trend
15.66% below the market average15.66% below the market average15.66% below the market average15.66% below the market average15.66% below the market average
9.62% above the sector average9.62% above the sector average9.62% above the sector average9.62% above the sector average9.62% above the sector average
Income Not Available
Growth
23.13% below the market average23.13% below the market average23.13% below the market average23.13% below the market average23.13% below the market average
13.33% below the sector average13.33% below the sector average13.33% below the sector average13.33% below the sector average13.33% below the sector average

What The Brokers Say

Strong Buy 1
Buy 0
Neutral 0
Sell 0
Strong Sell 0
Total 1
strong_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 14-Dec-2018

Time Volume / Share Price
11:00 10,000 @ 14.10p
08:10 19,309 @ 13.80p

FOG Key Personnel

CEO Philip O'Quigley
Chair Joachim Conrad
CFO Michael Gallagher

Top of Page