Core Viewpoint - Falcon Oil & Gas Ltd. has received shareholder approval for the sale of its 98.1% interest in Falcon Oil & Gas Australia Limited to Tamboran Resources Corporation, marking a significant step in a broader transaction that is still subject to regulatory and shareholder approvals [3][5]. Group 1: Transaction Details - The sale involves Falcon's 98.1% interest in Falcon Australia, with Tamboran group also planning to acquire all subsidiary companies of Falcon, pending necessary approvals [3][4]. - Tamboran group will have the option to compulsorily acquire the remaining shares in Falcon Australia held by minority shareholders at a price no less than what is being paid to Falcon [4]. Group 2: Management Commentary - Philip O'Quigley, CEO of Falcon, stated that the approval from Falcon Australia shareholders removes a key condition for the broader transaction, which is expected to close in the first quarter of the year [5]. Group 3: Company Background - Falcon Oil & Gas Ltd. is an international oil and gas company focused on the exploration and development of unconventional oil and gas assets, with operations in Australia, South Africa, and Hungary [8].
Falcon Oil & Gas Ltd. - Approval for the sale of Falcon's 98.1% interest in Falcon Oil & Gas Australia Limited to Tamboran group.