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Falcon boss: Beetaloo shale gas discovery “terribly exciting”

Falcon Oil & Gas Ltd (LON:FOG) boss Philip O’Quigley joined Andrew Scott in Proactive Investors’ Stocktube studio to talk about the group’s now official shale gas discovery in the Beetaloo basin, within Australia’s Northern Territory.

It comes after Origin Energy, the US$7.5bn valued Australian oil and gas major, officially declared the Amungee project as a new discovery, following the analysis of positive results from a new well.

“It is a very exciting development, it is not every day you have a declaration of a discovery,” O’Quigley said.

“Origin came on board couple of years ago and started drilling only last year, this project is just going from strength to strength.

“This declaration of discovery is a huge leap forward, so it is terribly exciting.”

Quick facts: Falcon Oil & Gas Ltd

Price: 11.6 GBX

AIM:FOG
Market: AIM
Market Cap: £113.89 m
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