Falcon Oil & Gas Ltd. - Stellar IP90 Flow Test Result in the Beetaloo maintaining stable gas rate over the final 30-day period

Core Viewpoint - Falcon Oil & Gas Ltd announced a record average 90-day initial production flow rate of 6.7 million cubic feet per day from the Shenandoah South 2H Sidetrack well in the Beetaloo Sub-basin, indicating significant commercial potential for the area [2][6]. Production Results - The SS-2H ST1 well achieved an average IP90 flow rate of 6.7 MMcf/d over 1,671 meters, setting a record in the Beetaloo Basin [2]. - The flow rate increased from 6.4 MMcf/d to 6.5 MMcf/d over the last 30 days, with a wellhead pressure of approximately 700 psi, reflecting a 3% decline in pressure from Day 60 [7][8]. Drilling Campaign - The 2025 drilling campaign is progressing, with the intermediate sections of the first two wells successfully drilled and the rig currently drilling the third well [8]. - The campaign is the first multi-well drilling program utilizing batch drilling in the Beetaloo Basin, aiming to complete the drilling phase of the five-well Shenandoah South pilot program [8]. Future Plans - The SS-2H ST1 well has been suspended in preparation for gas sales to the Northern Territory Government via the Sturt Plateau Compression Facility, expected to commence in mid-2026 [8]. - Falcon Oil & Gas Australia Limited has reduced its participating interest in the three wells to 0%, resulting in no cost exposure for the drilling of these wells [8].