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03 May 2019 | 09:55

Falcon Oil & Gas says plan accepted for Kyalla shale and exploration well

Falcon Oil & Gas said joint venture partner Origin Energy had its environmental managemnet plan accepted for a planned shale and exploration well in the Northern Terriroty. The plan provided detail on how Origin would ensure the environmental impacts and risks associated with its activities were reduced to a level that was as low as 'reasonably practicable and acceptable,' the company said. The plan had been prepared with reference to regulatory obligations and relevant Inquiry recommendations that have underpinned the Code of Practice for Petroleum Activities in the Northern Territory, it added. 'Today’s announcement of acceptance for assessment of the Kyalla 117 N2 Exploration Well EMP targeting the Kyalla shale is an exciting development for Falcon shareholders as the JV prepares to re-commence drilling in the highly prospective Beetaloo Sub-basin in 2019. We look forward to updating the market as work progresses over the coming months,' said Philip O’Quigley, CEO of Falcon.

At 9:55am: (LON:FOG) Falcon Oil Gas share price was +0.13p at 16.2p

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