Falcon Oil & Gas Ltd.

Transaction Type
Sellers
Marketers
Basin
Beetaloo Basin
Post Date
Estimated Price
0MM
Description

Falcon Oil & Gas Ltd., Denver, (Toronto Venture: FO) has retained Merrill Lynch Pierce Fenner and Smith Inc. and Moyes & Co. to seek strategic partners for interests in Australia. In May, Falcon announced it had increased its interest in the 7-million acre Beetaloo Basin prospect under four exploration permits in the Northern Territory of Australia to an undivided 75% working interest and is now operator under the permits. For its 2009 Australian initiative, Falcon will be seeking one or more parties with financial or technical capabilities to participate in exploration and development activities in the Beetaloo prospect. Marc A. Bruner, Falcon president and chief executive, says, "We are optimistic about entering into transactions with one or more parties that will add significant value to these assets, similar in nature to the agreement we signed with ExxonMobil on our Mako Trough prospect in Hungary. This is the fundamental nature of our strategic business model." Contact Chris Moyes, 214-363-9020, cmoyes@moyesco.com.