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Falcon Oil & Gas Ltd

Falcon Oil & Gas boss says fracking ‘green light’ is brilliant news for Australia

Falcon Oil & Gas Ltd (LON:FOG, CVE:FO) chief executive Philip O’Quigley says it is a big day for the company, but, also for the Northern Territory and Australia.

The lifting of a moratorium on hydraulic fracturing has cleared Falcon and its operating partner Origin Energy - Falcon owns 30% of the shale project while Origin has the other 70%.

It means a five well campaign can now be advanced “as soon as practical”.

“It is brilliant news,” O’Quigley said in a Proactive Investors interview.

He added: “It is a huge resource to go after, and the lifting of the moratorium means we can get back to work.”

Quick facts: Falcon Oil & Gas Ltd

Price: £0.13

Market: AIM
Market Cap: £128.87 m
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Everybody is on the Falcon Oil & Gas Plc bandwagon - Zak Mir

Chartist Zak Mir takes a closer look at Falcon Oil & Gas Ltd (LON:FOG) after its shares doubled last week. The Tip TV technical analyst says Falcon is on the front foot, as far as fundamentals are concerned, while the chart points to the share price potentially going higher still.

on 02/20/2017

2 min read