Falcon Oil & Gas Ltd - Australian Government Announcement - Beetaloo Strategic Plan - Press Release digitaljournal.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from digitaljournal.com Daily Mail and Mail on Sunday newspapers.
Australian Government plans to provide up to AUD50 million to accelerate exploration activity in the Beetaloo sub-basin
17 Dec 2020
Australia s Coalition Government plans to accelerate gas exploration and development in the
Northern Territory’s Beetaloo sub-basin to create thousands of jobs, provide significant economic benefits to the region and ensure Australia remains a world leader in the production of natural gas.
Minister for Resources, Water and Northern Australia Keith Pitt said the Government’s approach would speed up exploration and production in the Beetaloo by around two years. The Government will provide up to $50 million for exploration that occurs before 30 June 2022, allowing the benefits of this important asset to be realised sooner,
Falcon Oil & Gas Ltd. - Australian Government Announcement - Beetaloo Strategic Plan
Falcon Oil & Gas Ltd.
Australian Government Announcement - Beetaloo Strategic Plan
17 December 2020 - Falcon Oil & Gas Ltd. (TSXV: FO, AIM: FOG) is pleased to note the announcement today by the Australian Government that it plans to provide up to A$50 million to accelerate exploration activity in the Beetaloo sub-basin. Falcon holds a 22.5% interest in 4.6 million gross acres in exploration permits (EP76, EP98 and EP117) covering the most prospective core area of the Beetaloo sub-basin.
The funding is designed to fast-track drilling by providing grants to cover 25% of eligible exploration costs, capped at A$7.5 million per well and three wells per exploration venture. The funding will be put towards exploration that occurs before June 2022.
Beetaloo strategic plan will unlock gas, jobs and development miragenews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from miragenews.com Daily Mail and Mail on Sunday newspapers.