Falcon Oil & Gas Ltd (UK) (TSE:FO) has released an update.
Falcon Oil & Gas Ltd. reports outstanding initial production rates at the Shenandoah South 1H well in the Beetaloo Basin, surpassing pre-drill expectations and propelling the company towards pilot development. The well’s performance indicates potential for high long-term gas production, with the company now planning to drill additional wells to reach a target production rate. Funding is in place for the initial phase, with strategies being considered for the full development financing.
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