Falcon Oil & Gas Ltd.

Falcon Oil and Gas Limited
(“Falcon”)

Amungee NW1 h – Standard Gas such FLow R.Eat E.Up to 5 Wscf/D. in 1,000 m HDirectional

September 3, 2021 – Falcon Oil & Gas Ltd.Amen”). The results indicate the normal gas flow rate between 5.2-5.8 MMscf / d per 1,000 m horizontal section.

Amngwe is located in the Bethel sub-basin, Northern Territory, Australia, and the experiment is part of a 2021 work plan. “Origin”).

Amen Background

  • Located at Navigate 98, approximately 60 km south of the Dali River in California.

  • It was the first horizontal pit cut with the Falcon JV partner and operator.

  • In November 2015, the JV dug a total depth of 3,808 meters, including the 1,100-meter horizontal section.

  • In September 2016, 11 hydraulic stimulus levels were completed in the horizontal section of the Middle Velry B Shelley Zone.

  • Extended 57-day product trial in December 2016ETP”) Completed, with an average of 1.10 MMscf / d.

  • In February 2017, on-site oil discovery and preliminary estimates were published for the Velcro B Shale Gas Pool, with a 6.6 TCF, 1.46 TCF network for the Falcon, details of which are contained in the Falcon AIF. .

Details Of Amen Experiment

  • The well was successfully returned to production on August 7, 2021.

  • During the first 48 hours of the trial period, the initial flow rate was an average of 1.23 MMscf / d between 2 – 4 MMscf / d.

  • A PLT was held on August 19, 2021 to 3,098mMD before carrying in 3.112 mM.

  • PLT data confirms this

    • At 3,112 MMD, beyond the compensation conversion point, only 5-15% of the product came in.

    • Eighty-five percent of the product comes from 8-11 steps with a 200-meter horizontal section before it is deformed.

  • The low contribution to levels 1-7 may be the result of a breakdown or failure of the plugs, or both.

  • Conclusion: Steps 8-11 may be a rescue agent that can be reached at Amlenge in the middle of Vellerri B. Shale.

  • PLT test results are equivalent to a normal gas flow rate of 5.2-5.8 MMscf / d per 1,000 m horizontal section.

  • A typical future production pit may have a horizontal production room of up to three kilometers.

  • The result confirms the decision to conduct a second EPT to conduct PLT.

Philip O’Kowli (CEO of Folcon) commented:
This is really exciting news for Falcon shareholders, given our unique and extensive position in the Betalo sub-basin, and this significant development provides a way for us to see the Betalon business as we move forward.

According to a recent report by an industry analyst, more than 3mmscf / d of gas flowing through a 1,000mm horizontal well is needed to demonstrate the beta trade. This test results not only significantly exceed these parameters and significantly increase our Velcrory dry gas game evaluation, but also equals betalon with other shale gas pools in North America.

As we await more news from our operations at the Kelala 117 N2-1H ST2 and Velkerri 76 S2-1, we look forward to working with our JV partner, Origin, to establish the next level of work on the middle Velcro Bell.

Another digging activity in neighboring Santos blocks, targeting the Velkerry dry gas game, is an important moment for the national significant beta sub-basin.

This notice contains internal information.

It ends.

Contact details:

Falcon Oil and Gas Limited

+353 1 676 8702

Philip Okuile, CEO

+353 87 814 7042

Ann Flynn, CFO

+353 1 676 9162

Cenkos Securities Plc (Nomad and Broker)

Neil McDonald / Derrick Lee

+44 131 220 9771

This announcement was reviewed by Dol Gabor Bada, Head of Technical Works at Folk Oil and Gas Limited. Dr. Bada holds a degree in geology from Itvos L University in Budapest, Hungary, and a PhD from Virginia University in Amsterdam. He is a member of the AAPG.

About Hawk Oil and Gas Limited
Falcon Oil and Gas Limited, an international oil and gas company, is engaged in unconventional oil and gas exploration and development, and its current portfolio is focused on Australia, South Africa and Hungary. Falcon Oil and Gas Limited is based in British Columbia, Canada, and is headquartered with a technical team in Dublin, Ireland, in Budapest, Hungary.

Falcon Oil and Gas Australia Limited c. 98% of Falcon Oil & Gas Ltd.Origin”) They are partners in the Betalo project.

By Falcon Oil & Gas Ltd. For more information, please visit www.falconoilandgas.com

About the origin
Origin is an integrated energy company in Australia. Origin is a leading energy retailer with an estimated 4.2 million customer accounts, an estimated 7,500 megawatts of contract generating capacity, and a large natural gas supplier. Originally the Pacific Pacific LNG is a leading supplier of natural gas to local markets and long-term exports.

www.originenergy.com.au

Glossary

IF

Annual Information Form April 26, 2021. Expired December 31, 2020.

J.V.

By Falcon Oil & Gas Australia Limited and Origin Energy B2 Pty Ltd. Collaborative work between

LNG

Liquid natural gas

D

Meters

MMD

Meters measure depth

MMscf / d

Million standard cubic feet per day

M

Megawatts

PLT

Product log tool

TCF

Trillion cubic feet

Advice on future statements
Some information in this press release may include information about the future. Any statements made in this press release may not be considered historical facts but may be considered future information. Future information usually includes expressions such as “May”, “Permission”, “Should”, “Expectation”, “Thinking”, “Planning”, “Guessing”, “Believing”, “Estimating”, “Projects”. contains l. , “Dependent”, “Potential”, “Planned”, “Predictable”, “Predictable”, “Budget”, “Hope”, “Thought”, “Support” or the negative words that indicate the negative or future consequences of those terms. In particular, future information in this press release includes, but is not limited to, information related to conventional gas flows, the 2021 work schedule, Amungee NW-1H Velkerri B shale gas pool. About the type, number, timeline, stimulus, experimentation and objectives of the wells drilled in the Betalo sub-basin Australia, the prospects of the Middle Velry and Kiala plays and the prospect of a exploration program. This information is based on current expectations of significant risks and uncertainties. Risks, estimates, and other factors that may affect the actual results include risks associated with shale gas market fluctuations. Risks related to shale gas exploration, development and production; General economic, market and business conditions; Concrete capital requirements; Lack of confidence in nature to estimate the number of reserves and resources; The extent and cost of compliance with government laws and regulations and the effect of changes to such laws and regulations; The need for certification of control before development begins; Environmental hazards and hazards and the cost of complying with environmental regulations; Aboriginal questions; Natural disasters and accidents such as mechanical or pipe failures, decay and other hazards; Potential costs are exaggerated, drilling wells are approximate, often include significant costs that may be higher than expected and lead to no results, differences in foreign exchange rates; Competition for capital, equipment, new lease, pipeline capacity and trained staff; Failure of the licensee, lease and licensee to meet those requirements; Changes in monarchy; Inability to accurately estimate abandonment and rehabilitation costs; Incorrect assumptions and assumptions by management and their partners; Effectiveness of internal controls; Lack of available drilling equipment, inability to find or retain key personnel; Title defects; Geo-political hazards; And the risk of litigation.

Readers have been warned that the details listed above are incomplete and that these causes and risks are difficult to predict. Actual results may differ materially from the results indicated in any future statements. Falcon is not obligated to update future statements or to update the reasons why the actual results differ from those in the future statements unless they are protected by Falcon safety regulations. In the annual information form, including “Accident Causes”, the falcon at www.sedar.com identifies additional hazards and instability in the Falcon documents with Canadian security officials.

ADirectory Information about oil and gas

Any references in this news are useful for verifying the existence of hydrocarbons for initial production, however, such measurements do not determine the extent to which such wells continue to be produced and subsequently reduced and do not necessarily indicate long-term performance or final recovery. Encouragingly, readers are warned not to rely on such rates when calculating Falcon’s gross domestic product. Such rates are based on field estimates and may be based on current data.

Related Resources Estimates These are gases that can be recovered from known reserves (carbon dioxide and liquefied gases when gas is produced), but are not commercially viable due to additional demarcation drilling, additional shipping certification and the need for initial gas. On-site, and proof of costs and development costs. It is uncertain whether any part of the property would be commercially viable. For more information on related asset estimates for the Manguwe NW-1H Velcro B Shale Gas Pool, published by Original Personnel and Qualified Reserve and Resources beginning February 15, 2017, please see the Falcon Annual Information Form. Available on April 26, 2021 at SEDAR at www.sedar.com.

TSX Venture Exchange or its regulatory service provider (as defined in the TSX Venture Exchange Policies) does not accept responsibility for the accuracy or completeness of this release.

Leave a Comment