Falcon Oil & Gas has announced it has farmed down a 7.5% interest in the Beetaloo Sub-basin to Origin Energy, with Origin increasing the gross cost cap of the Stage 2 and Stage 3 Beetaloo work programme by A$150.5m (cUS$92m) to A$263.8m (cUS$161m). As a result of the farm-down, we believe Falcon is now substantially funded for Stage 2 and Stage 3 work programme, eliminating equity and dilution risk for shareholders. Perhaps more importantly, Falcon is also fully funded through one of the greates ....
07 Apr 2020
Cenkos: Falcon Oil & Gas Ltd -- Sailing Through The Seas of Uncertainty
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Cenkos: Falcon Oil & Gas Ltd -- Sailing Through The Seas of Uncertainty
Falcon Oil & Gas Ltd. (FOG:LON) | 6.8 0 1.9% | Mkt Cap: 70.5m
- Published:
07 Apr 2020 -
Author:
James McCormack -
Pages:
4
Falcon Oil & Gas has announced it has farmed down a 7.5% interest in the Beetaloo Sub-basin to Origin Energy, with Origin increasing the gross cost cap of the Stage 2 and Stage 3 Beetaloo work programme by A$150.5m (cUS$92m) to A$263.8m (cUS$161m). As a result of the farm-down, we believe Falcon is now substantially funded for Stage 2 and Stage 3 work programme, eliminating equity and dilution risk for shareholders. Perhaps more importantly, Falcon is also fully funded through one of the greates ....