Falcon Oil & Gas Ltd. - Drilling completed on the second well in the Shenandoah South Pilot Project, Shenandoah S2-4H

Company Overview - Falcon Oil & Gas Ltd. is an international oil and gas company focused on the exploration and development of unconventional oil and gas assets, primarily in Australia [15] - The company is incorporated in British Columbia, Canada, and headquartered in Dublin, Ireland [15] Recent Developments - On December 23, 2024, Falcon Oil & Gas Ltd. announced the successful drilling, casing, and cementing of the Shenandoah S2-4H horizontal well to a measured depth of 6,452 metres (21,169 feet) in exploration permit 98 in the Beetaloo Sub-basin, Northern Territory, Australia [4] - The completion of the SS4H well is considered a significant milestone in the development of the Beetaloo Sub-basin, with plans for an upcoming stimulation campaign [5][20] Joint Venture and Company Interests - Falcon Oil & Gas Australia Limited holds a 5.0% interest in the Beetaloo Joint Venture, while Tamboran (B2) Pty Limited holds a 95.0% interest, totaling 100% [7] - Tamboran Resources Corporation, a partner in the joint venture, is focused on developing low CO2 gas resources within the Beetaloo Basin [11] Geological Insights - Data from the SS4H well indicated strong gas shows and a continuation of high-quality shale and rock properties, with no faulting observed along the entire 3,048-metre (10,000 foot) lateral section [9] - The Shenandoah South Pilot Project encompasses 46,080 acres [10] Future Plans - The stimulation campaign for the SS4H well is planned to commence in early Q1 2025, with initial production (IP30) flow tests from both SS2H ST1 and SS4H expected to be released in Q1 2025 [20][23]