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Correction: Falcon Oil & Gas Ltd. - Approval Granted by Northern Territory Government for the Beneficial Use of Gas Agreement

NTG approved the Beneficial Use of Gas agreement allowing Falcon Oil & Gas Australia Limited and Tamboran to sell appraisal gas from EP98 in the Beetaloo sub-basin, covering the Shenandoah South Pilot Project.
As the first BUG approval, the NTG decision paves the way for construction of the A$140,000,000 Sturt Plateau Compression Facility by BJV partners.
Details in the release specify volumes and timing, noting up to 60 TJ per day for three years and 40 million cubic feet per day contracted to the NTG until mid-2041 for Northern Territory energy security.
APA Group has started pipeline work this month, investing A$70,000,000 on the 37-kilometre Sturt Plateau Pipeline while the 2025 drilling campaign advances.
Sales are expected to begin mid-2026, with Falcon Australia having no cost exposure to SPCF construction and retaining a 5% interest in S2-4H, whose stimulation is planned for Q4 2025.

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