Multiple shale gas exploration wells are being drilled in the remote Beetaloo basin in Australia’s Northern Territory and recent results have raised expectations that the area could be on par with shale gas plays in North America. Significantly, investors could finally find out whether the shale play is commercial by the end of next year.
Falcon Oil & Gas
Positive shale gas exploration results in Australia’s remote Northern Territory have seen UK-listed Falcon Oil & Gas’ share price treble since Friday on expectations that the Beetaloo basin could be on par with shale gas plays in North America.
Falcon Oil & Gas has made a quick change at the top after its chief financial officer left with immediate effect.
Falcon Oil & Gas posted “very encouraging” results with its Beetaloo development.
Falcon Oil & Gas confirmed the roll-out of its Australian drilling campaign in the Beetaloo Basin today.