Falcon Oil & Gas Ltd. - Native Title holder approval obtained to sell gas under Beneficial Use of Gas legislation

Core Viewpoint - Falcon Oil & Gas Ltd has reached a historic agreement with Native Title Holders and the Northern Land Council for the sale of appraisal gas from their Exploration Permits in the Beetaloo sub-basin, marking a significant milestone for the company and its joint venture partners [2][4]. 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. The company is incorporated in British Columbia, Canada, and headquartered in Dublin, Ireland [6][7]. Agreement Details - The Agreement allows the Beetaloo JV partners to sell appraisal gas from EP98 and EP117, with a maximum of 60 terajoules (TJ) per day from the Shenandoah South Pilot Project over a three-year period, subject to the Agreement's terms [8]. - The Beetaloo JV partners have contracted an initial supply of 40 million cubic feet per day (MMcf/d) to the Northern Territory Government until mid-2041, which is expected to enhance energy security for the region [8]. Future Plans - Gas sales to the Northern Territory Government via the Sturt Plateau Compression Facility are anticipated to commence in mid-2026, contingent on weather conditions and final stakeholder approvals [8]. - The Beetaloo JV partners aim to secure necessary approvals for long-term production and continue fostering strong relationships with Native Title Holders, providing financial benefits, training, and employment opportunities to the local community [8]. Joint Venture Structure - Falcon Oil & Gas Australia Limited holds a 22.5% interest in the Beetaloo JV, while Tamboran (B2) Pty Limited holds 77.5%, indicating a significant partnership in the development of the Beetaloo sub-basin [9].