Core Viewpoint - Falcon Oil & Gas Ltd has announced a significant achievement in the Beetaloo Sub-basin with the Shenandoah S2-2H ST1 well achieving an average 60-day initial production (IP60) flow rate of 6.8 million cubic feet per day (MMcf/d), marking the highest IP60 result in the region to date [2][5]. Drilling Campaign - The 2025 drilling campaign has commenced, which is the largest drilling initiative in the Beetaloo to date, targeting up to three 10,000-foot horizontal wells to be drilled back-to-back over the next few months [6][8]. - This campaign aims to provide further evidence of the commercial potential of the Beetaloo Sub-basin [6]. Production Results - The average flow rate of 12.4 MMcf/d over a normalized 10,000-foot horizontal section aligns with the average of over 11,000 wells in the Marcellus Shale dry gas area over a 12-month period, indicating strong commercial deliverability of gas from the Beetaloo to the Australian domestic East Coast gas market [8]. - The exit rate maintains a steady, low-declining curve at 6.4 MMcf/d with a flowing wellhead pressure of approximately 720 psi, showing less decline compared to the Shenandoah South 1H well over the last 30 days of testing [8]. Company Insights - Falcon Oil & Gas Ltd is focused on the exploration and development of unconventional oil and gas assets, with its current portfolio primarily in Australia [10]. - Falcon Australia has opted to reduce its participating interest in the three wells to 0%, resulting in no cost exposure to the drilling of these wells [8].