Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. Canada
  4. Bourse de Toronto
  5. Falcon Oil & Gas Ltd.
  6. News
  7. Summary
    FO   CA3060711015

FALCON OIL & GAS LTD.

(FO)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancials 
SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

Falcon Oil & Gas Ltd. Announces Preliminary Results from Velkerri 76 S2-1 Well ľ Very Encouraging

10/15/2021 | 02:00am EST

Falcon Oil & Gas Ltd. announced that drilling of the Velkerri 76 S2-1 vertical appraisal well (Velkerri 76) has been completed, with the well drilled to a vertical total depth (TD) of 2,129 metres in the Beetaloo Sub-Basin, Northern Territory, Australia with joint venture partner, Origin Energy B2 Pty Ltd., a wholly owned subsidiary of Origin Energy Limited. Preliminary evaluation of the Velkerri-76 well is very encouraging and confirms: The presence of four prospective intervals within the Amungee Member (formerly known as the Middle Velkerri), the A, AB, B and C shales, as established in the Amungee NW-1 /1H, Beetaloo W-1 and Kalala S-1 wells. The continuation of the regionally pervasive Amungee Member within the Velkerri Formation towards the eastern flank of the Beetaloo Sub-Basin approximately 78 kilometres from the Amungee NW-1H and 73 kilometres from the Beetaloo W-1 wells. The Amungee Member is likely within the wet gas maturity window as evidenced by mud gas data during drilling. 93 metres of continuous conventional core was acquired in the Velkerri B and AB shales and extensive wireline logging data was collected to enable detailed formation evaluation of the prospective zones within the Amungee Member. The diagnostic fracture injection test (DFIT) is to be carried out shortly and will provide further understanding for future appraisal of the Velkerri wet gas play. The preliminary drilling results at Velkerri 76, together with the revised normalised gas flow rate equivalent to 5 MMscf/d at Amungee NW-1H announced in September 2021, is really exciting news for Falcon shareholders as attention shifts to future activity in the Beetaloo. Falcon is in a prime position within the Beetaloo Sub-Basin with significant areal exposure to the Velkerri shales across a range of maturity windows, as established by the results from the 5 wells drilled in the work programme to date. This further development at Velkerri 76 emphasises the ever growing significance of the Velkerri play. This is another very encouraging development for the nationally-important Beetaloo Sub-Basin and, with results to come from flow testing of two horizontal wells at the neighbouring Santos-operated blocks, which are also targeting the Velkerri play, see now as a key period in the step towards commercialisation of the Beetaloo.


ę S&P Capital IQ 2021
All news about FALCON OIL & GAS LTD.
11/19Falcon Oil & Gas Up Over 7% Even as Q3 Loss Widens YoY
MT
11/19Falcon Oil & Gas Books Wider Q3 Loss as Expenses Balloon on Compensation; Shares Up Nea..
MT
11/19Falcon Oil & Gas Ltd. - Filing of Interim Financial Statements
GL
11/19Falcon Oil & Gas Ltd. - Filing of Interim Financial Statements
GL
11/19FALCON OIL & GAS : Financial Statements 30 September 2021
PU
11/18Falcon Oil & Gas Ltd. Reports Earnings Results for the Third Quarter and Nine Months En..
CI
11/15Falcon Oil & Gas Ltd. - Results of Annual General & Special Shareholders Meeting
GL
11/15Falcon Oil & Gas Ltd. - Results of Annual General & Special Shareholders Meeting
GL
11/12Falcon Oil & Gas Details Preliminary Petrophysics, Mud Gas Composition from Velkerri 76..
MT
11/12Falcon Oil & Gas Logs Strong Indications In Petrophysical Interpretation Of Australian ..
MT
More news
Financials
Sales 2020 0,01 M - -
Net income 2020 -1,83 M - -
Net cash 2020 11,0 M - -
P/E ratio 2020 -77,8x
Yield 2020 -
Capitalization 104 M 104 M -
EV / Sales 2019 27 600x
EV / Sales 2020 20 147x
Nbr of Employees -
Free-Float 79,6%
Chart FALCON OIL & GAS LTD.
Duration : Period :
Falcon Oil & Gas Ltd. Technical Analysis Chart | FO | CA3060711015 | MarketScreener
Income Statement Evolution
Managers and Directors
Philip O'Quigley Chief Executive Officer & Executive Director
Anne Flynn Chief Financial Officer
John Joseph Nally Non-Executive Chairman
Daryl H. Gilbert Independent Non-Executive Director
JoAchim Conrad Non-Executive Director
Sector and Competitors
1st jan.Capi. (M$)
FALCON OIL & GAS LTD.-6.90%104
CONOCOPHILLIPS78.74%94 278
EOG RESOURCES, INC.75.30%51 149
CANADIAN NATURAL RESOURCES LIMITED71.49%48 289
CNOOC LIMITED8.36%44 538
PIONEER NATURAL RESOURCES COMPANY59.57%44 366