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

Core Insights - Falcon Oil & Gas Ltd announced that the Shenandoah South 2H Sidetrack (SS-2H ST1) achieved an average 90-day initial production (IP90) flow rate of 6.7 million cubic feet per day (MMcf/d), setting a record in the Beetaloo Basin [2][6][17] - The well's production rate increased from 6.4 MMcf/d to 6.5 MMcf/d over the last 30 days, indicating potential for further optimization [7][8] - The company is progressing with its 2025 drilling campaign, which includes the drilling of three additional wells in the Beetaloo Basin [8][17] 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 [10] - Falcon Oil & Gas Australia Limited is a subsidiary of Falcon Oil & Gas Ltd, holding a 22.5% interest in the Beetaloo Joint Venture [11] Drilling Campaign - The 2025 drilling campaign is the first multi-well program utilizing batch drilling in the Beetaloo Basin, with the rig currently drilling the intermediate section of the third well (S2-5H) [8][17] - The completion of the intermediate section of the S2-5H well will lead to the drilling of the horizontal sections of three wells, completing the five-well Shenandoah South pilot program [8][17] Production and Sales - 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][17] - The wellhead pressure at the end of the 90-day period was approximately 700 psi, reflecting a 3% decline from Day 60 [8]