|
Falcon Oil & Gas Ltd shares fell on Wednesday as the company flagged a further court delay and warned of tight timing to complete its transaction with Tamboran Resources Corp. Shares in the oil & gas company were down 4.6% at 13.50 pence in London on Wednesday afternoon. Falcon said the hearing to approve the plan of arrangement by the Supreme Court of British Columbia in Canada has been delayed again due to a court backlog, and is now expected to take place on March 26, from a previously scheduled March 24 date. The transaction, which was approved by Falcon shareholders earlier this month, remains subject to several conditions, including court approval, regulatory clearances and the listing of Tamboran shares on the New York Stock Exchange. Falcon said it expects the deal to complete shortly after the final court hearing, subject to all conditions being met. However, it warned there is ‘significant uncertainty’ over whether the final court order will be obtained in time. If the transaction is not completed by March 30, either Falcon or Tamboran may terminate the arrangement agreement, meaning the parties would no longer be required to proceed. Copyright 2026 Alliance News Ltd. All Rights Reserved.
|
