viewFalcon 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: 10.25 GBX

Market: AIM
Market Cap: £100.64 m

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