Falcon Oil & Gas said a notification has been submitted of a discovery on the Amungee NW-1H well in the Beetaloo Basin.
The company said its joint venture partner Origin Energy has submitted the find to the Department of Primary Industry and Resources of the Northern Territory.
Origin is said to have gathered sufficient date to confirm discovery of petroleum accumulation and evaluation to determine the resource size is underway
Philip O’Quigley, chief executive of Falcon, said:”The Notification of Discovery issued by Origin is an exciting development and provides further evidence of the scale of the resource potential of the Beetaloo Basin.
“We look forward to updating the market when the evaluation to determine the resource size is concluded.”
