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Falcon Oil & Gas Ltd - Australia, Hungary and South Africa-focused oil and gas company - Announces successful completion of drilling on the Amungee NW 3H well in Exploration Permit 98 in the Beetaloo Sub-Basin, in Australia’s Northern Territory. Work was completed with Falcon Oil & Gas Australia Ltd’s joint venture partner Tamboran (B2) Pty Ltd. Falcon says drilling took 17.9 days at an average 214 metres per day, 20 days faster than Amungee 2H drilling. Total cost for A3H drilling and cementing was A$12.6 million, A$1.8 million less than work on A2H. Falcon is planning a stimulation programme for the second quarter of 2024, following the Northern Territory’s wet season. Also says stimulation activities for the Shenandoah South 1H well in EP117 are on track to start in November, with IP30 flow rates expected in early 2024. Current stock price: 7.27 pence, up 4.5% in London on Monday 12-month change: up 14% Copyright 2023 Alliance News Ltd. All Rights Reserved.
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