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Stocks in play: Falcon Oil & Gas Ltd.

Baystreet.ca
·1 min read

Provided an update on exploration activity with respect to Kyalla 117 N2-1H ST2 well in the Beetaloo Sub-basin, Northern Territory, Australia. As announced on December 10, the JV decided to execute operations without delay to re-enter Kyalla 117 with coiled tubing and apply nitrogen lift to lower the pressure in the wellbore and to assist with achieving and sustaining gas breakthrough. If successful, this would allow extended production testing to commence. The coiled tubing unit and all necessary consumables have arrived at the wellsite and the rigging up of the equipment is in progress. Nitrogen lift operations are expected to commence in the next few days. Falcon Oil & Gas Ltd. shares V.FO are trading up $0.005 at $0.16.

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