Falcon Oil & Gas upbeat on approval at Kyalla

Falcon Oil & Gas announced on Thursday that the environmental management plan for the Kyalla 117 N2 horizontal appraisal well, for the planned 2019 drilling, stimulation, and well testing prepared by Origin Energy B2 on behalf of the joint venture, has been approved by the Northern Territory Department of Environment and Natural Resources in Australia.

The AIM-traded firm said the well was targeting the Kyalla shale liquids rich gas fairway, with construction of the well pad and related civil works nearing completion.

Drilling operations would commence in September, the board confirmed.

“Today’s announcement relating to the approval of the Kyalla 117 N2 Well EMP targeting the Kyalla shale liquids rich gas fairway is an exciting development for Falcon shareholders,” said Falcon chief executive officer Philip O’Quigley.

“We look forward to the commencement of drilling operations.”