Falcon Oil & Gas Ltd. has successfully concluded drilling operations on the Amungee NW-1H horizontal well. The well was drilled to a total measured depth of 3,808 metres, including 1,100 metres horizontal section in the 'B Shale' interval of the Middle Velkerri Formation, 100 metres more than originally planned. Results obtained to date are very encouraging.

Highlights of preliminary results from the Amungee NW-1H horizontal exploration well:

The Amungee NW-1H well, the first horizontal well drilled in the Beetaloo basin, illustrates the advancement and acceleration of the exploration program;

Favourable shale properties extending from the Amungee NW-1 vertical well qualify the area as a prospective and laterally extensive sweet spot in the north of the Beetaloo basin;

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