Falcon Oil & Gas Ltd - Australia, Hungary and South Africa-focused oil and gas company - Begins the spudding of its Shenandoah S2-4H horizontal well in the Beetaloo Sub-basin in the Northern Territory in Australia, with subsidiary Falcon Oil & Gas Australia Ltd’s joint venture partner Tamboran B2 Pty Ltd. It expects to drill to a depth of 20,669 feet, including a horizonal section of around 10,000 feet, targeting the Amungee Member B-shale.

This is the second well of the Shenandoah South pilot project and will be drilled from the same well pad as the Shenandoah S2-2H ST1 sidetrack well. Falcon’s Australian arm holds a 5% interest in the Shenandoah South pilot project. Following the drilling of the S2-4H well, stimulation of both the S2-4H and S2-2H ST1 wells is expected to begin in the first quarter of 2025.

Current stock price: 4.12 pence, down 2.9% in London on Monday afternoon

12-month change: down 41%

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