Falcon Oil & Gasoline Ltd.
(“Falcon” or “Firm”)
Origin Power Declares Divestment of Beetaloo Sub-Basin Pursuits
19 September 2022 – Falcon Oil & Gasoline Ltd. (TSXV: FO, AIM: FOG) (“Falcon” or the “Firm”) notes the media launch issued in the present day by its c. 98% subsidiary, Falcon Oil & Gasoline Australia Restricted’s three way partnership associate, Origin Power B2 Pty Ltd., a completely owned subsidiary of Origin Power Restricted (“Origin”) referring to the divestment of their 77.5% curiosity within the Beetaloo Sub-basin exploration permits.
Underneath the phrases of the Joint Working Settlement entered into with Origin and introduced on 2 Could 2014 (as amended), Falcon Australia has a proper of first refusal which permits it to inform Origin (inside 30 days of any proposed change of management) of Falcon’s intention to amass Origin’s 77.5% curiosity within the Beetaloo three way partnership. The Board is reserving its authorized place in respect of these rights. Within the occasion that the Firm seeks to train its rights beneath the Joint Working Settlement, this may be categorized as a reverse takeover pursuant to Rule 14 of the AIM Guidelines for Firms. The Board will now think about the impression of the today techs choice by Origin on Falcon and can then determine what, if any, actions it intends to take. There isn’t a assure that the Firm will train such rights or that any transaction will happen.
Additional info will probably be disclosed in the end.
|Falcon Oil & Gasoline Ltd.||+353 1 676 8702|
|Philip O’Quigley, CEO||+353 87 814 7042|
|Anne Flynn, CFO||+353 1 676 9162|
|Cenkos Securities plc (NOMAD & Dealer)||today techs ; “>|
|today techs vertical-align: middle; vertical-align: top ; “>Neil McDonald / Derrick Lee||+44 131 220 9771|
About Falcon Oil & Gasoline Ltd.
Falcon Oil & Gasoline Ltd is a world oil & gasoline firm engaged within the exploration and improvement of unconventional oil and gasoline belongings, with the present portfolio centered in Australia, South Africa and Hungary. Falcon Oil & Gasoline Ltd is included in British Columbia, Canada and headquartered in Dublin, Eire with a technical staff based mostly in Budapest, Hungary.
Falcon Oil & Gasoline Australia Restricted is a c. 98% subsidiary of Falcon Oil & Gasoline Ltd. Falcon Oil & Gasoline Australia Restricted and a wholly-owned subsidiary of Origin Power Restricted (ASX: ORG) (“Origin”) are three way partnership companions in respect of the Beetaloo venture.
For additional info on Falcon Oil & Gasoline Ltd. please go to www.falconoilandgas.com
Origin is a number one Australian built-in vitality firm. Origin is a number one vitality retailer with roughly 4.2 million buyer accounts, has roughly 7,500 MW of proprietor and contracted energy era capability and can be a big pure gasoline provider. Origin is the upstream operator of Australia Pacific LNG, which provides pure gasoline to today techs home markets and exports LNG beneath long run contracts.
Neither the TSX Enterprise Trade nor its Regulation Companies Supplier (as that time period is outlined within the insurance policies of the TSX Enterprise Trade) accepts accountability for the adequacy or accuracy of this launch.
Sure info on this press launch could represent forward-looking info. This info is predicated on present expectations which are topic to vital dangers and uncertainties which are troublesome to foretell. Precise outcomes would possibly differ materially from outcomes urged in any forward-looking statements. Falcon assumes no obligation to replace the forward-looking statements, or to replace the the explanation why precise outcomes may differ from these mirrored within the ahead looking-statements until and till required by securities legal guidelines relevant to Falcon. Further info figuring out dangers and uncertainties is contained in Falcon’s filings with the Canadian securities regulators, which filings can be found at www.sedar.com.