Falcon Oil & Gasoline Ltd. – Beetaloo Sub-basin – Completion of the three effectively batch drilling 2025 marketing campaign

Falcon Oil & Gasoline Ltd (“Falcon”)

Beetaloo Sub-basin – Completion of the three effectively batch drilling 2025 marketing campaign

15 October 2025 Falcon Oil & Gasoline Ltd. (TSXV: FO,OTC:FOLGF, AIM: FOG) is happy to announce that Falcon Oil & Gasoline Australia Restricted’s (” Falcon Australia “) three way partnership accomplice Tamboran (B2) Pty Restricted (collectively the ” BJV companions “) has efficiently accomplished the three effectively batch drilling 2025 marketing campaign, the most important drilling program ever performed within the Beetaloo Sub-basin.

• The three wells of the 2025 batch drilling marketing campaign (Shenandoah South SS2-1H, SS2-3H and SS2-5H) at the moment are drilled, cased and suspended forward of stimulation, every with a 3,000-metre horizontal part (10,000-foot).
• The marketing campaign was the primary multi-well drilling program implementing batch drilling within the Beetaloo Sub-basin.
• The common drilling to focus on depth was 26.7 days with the drilling and casing time delivered throughout the 35-day forecast.
• Modifications to the mud system and use of anti-vibration drilling bits led to elevated drilling effectivity. This resulted in reaching ~1,000 metres drilled in a day within the SS2-1H effectively, the quickest horizontal part drilled within the Amungee Member B-shale to this point.
• As much as a 60-stage stimulation throughout the total 3,000-metre horizontal part of SS2-5H effectively is now deliberate in This fall 2025 and is anticipated to be stream examined for 30 days previous to being shut-in forward of the graduation of gasoline gross sales, that are anticipated to start in mid-2026.
• In H1 2026, three wells (which incorporates the second effectively of the 2024 drilling marketing campaign) are anticipated to be stimulated forward of the graduation of gasoline gross sales.
• All wells included within the Shenandoah South Pilot Challenge are anticipated to ship the contracted 40 MMcf/d quantity required below the Gasoline Gross sales Settlement with the Northern Territory Authorities topic to climate situations and remaining stakeholder approvals.
• As beforehand introduced, Falcon Australia opted to cut back its taking part curiosity within the three wells drilled in 2025 to 0%, with no price publicity.

Philip O’Quigley, CEO of Falcon commented:
“Tamboran has executed a incredible three effectively drilling marketing campaign delivering three 3,000 metre (10,000-foot) horizontal cased wells. We now have 12,000 metres (40,000 toes) of horizontal cased sections to be fracture stimulated over the approaching months. As soon as accomplished, these wells will then be hooked as much as the gasoline gathering and compression services at present below development within the Beetaloo with gross sales to the Northern Territory authorities commencing within the second half of 2026. We stay up for updating shareholders throughout this subsequent part as momentum within the Beetaloo continues to extend.”

Ends.

CONTACT DETAILS:

This announcement has been reviewed by Dr. Gábor Bada, Falcon Oil & Gasoline Ltd’s Technical Advisor. Dr. Bada obtained his geology diploma on the Eötvös L. College in Budapest, Hungary and his PhD on the Vrije Universiteit Amsterdam, the Netherlands. He’s a member of AAPG.

Determine 1: Time-depth chart – Spud to Goal Depth (see PDF attachment)

About Falcon Oil & Gasoline Ltd.
Falcon Oil & Gasoline Ltd is a global oil & gasoline firm engaged within the exploration and growth of unconventional oil and gasoline belongings, with the present portfolio targeted in Australia. Falcon Oil & Gasoline Ltd is included in British Columbia, Canada and headquartered in Dublin, Eire.

Falcon Oil & Gasoline Australia Restricted is a c. 98% subsidiary of Falcon Oil & Gasoline Ltd.

For additional info on Falcon Oil & Gasoline Ltd. Please go to www.falconoilandgas.com

About Beetaloo JV Companions (EP 76, 98 and 117)

Shenandoah South Pilot Challenge -2 Drilling Area Items – 46,080 acres ¹

¹ Topic to the completion of SS – 4H wells on the Shenandoah South pad 2.

About Tamboran (B2) Pty Restricted
Tamboran (B1) Pty Restricted (“Tamboran B1”) is the 100% holder of Tamboran (B2) Pty Restricted, with Tamboran B1 being a 50:50 three way partnership between Tamboran Assets Company and Daly Waters Vitality, LP.

Tamboran Assets Company is a pure gasoline firm listed on the NYSE (TBN) and ASX (TBN). Tamboran is targeted on taking part in a constructive position within the world vitality transition in direction of a decrease carbon future, by creating the numerous low CO ₂ gasoline useful resource throughout the Beetaloo Sub-basin via cutting-edge drilling and completion design know-how in addition to administration’s expertise in efficiently commercialising unconventional shale in North America.

Bryan Sheffield of Daly Waters Vitality, LP is a extremely profitable investor and has made important returns within the US unconventional vitality sector previously. He was Founding father of Parsley Vitality Inc. (“PE”), an unbiased unconventional oil and gasoline producer within the Permian Basin, Texas and beforehand served as its Chairman and CEO. PE was acquired for over US$7 billion by Pioneer Pure Assets Firm.

Advisory relating to forward-looking statements
Sure info on this press launch could represent forward-looking info. Any statements which can be contained on this information launch that aren’t statements of historic reality could also be deemed to be forward-looking info. Ahead-looking info sometimes incorporates statements with phrases akin to “could”, “will”, “ought to”, “count on”, “intend”, “plan”, “anticipate”, “consider”, “estimate”, “initiatives”, “dependent”, “think about” “potential”, “scheduled”, “forecast”, “anticipated”, “outlook”, “price range”, “hope”, “recommend”, “help” “deliberate”, “roughly”, “potential” or the damaging of these phrases or related phrases suggesting future outcomes. Specifically, forward-looking info on this press launch consists of, as much as a 60 stage stimulation throughout the total 3,000m horizontal part of SS2-5H effectively being deliberate in This fall 2025 and anticipated to be stream examined for 30 days previous to being shut-in forward of the graduation of gasoline gross sales, in H1 2026, three wells (which incorporates the second effectively of the 2024 drilling marketing campaign) anticipated to be stimulated forward of the graduation of gasoline gross sales, the graduation of gasoline gross sales to the Northern Territory Authorities by way of the Sturt Plateau Compression Facility in mid-2026 topic to climate situations and remaining stakeholder approvals; the sale of appraisal gasoline of as much as 60 TJ per day from the Shenandoah South Pilot challenge over a 3 yr interval, all wells included within the Pilot Challenge anticipated to ship the contracted 40 MMcf/d quantity required below the Gasoline Gross sales Settlement with the Northern Territory Authorities and the Shenandoah Pilot challenge persevering with to progress.

This info is predicated on present expectations which can be topic to important dangers and uncertainties which can be tough to foretell. The dangers, assumptions and different components that might affect precise outcomes embrace dangers related to fluctuations in market costs for shale gasoline; dangers associated to the exploration, growth and manufacturing of shale gasoline reserves; normal financial, market and enterprise situations; substantial capital necessities; uncertainties inherent in estimating portions of reserves and sources; extent of, and price of compliance with, authorities legal guidelines and rules and the impact of modifications in such legal guidelines and rules; the necessity to acquire regulatory approvals earlier than growth commences; environmental dangers and hazards and the price of compliance with environmental rules; aboriginal claims; inherent dangers and hazards with operations akin to mechanical or pipe failure, cratering and different harmful situations; potential price overruns, drilling wells is speculative, usually involving important prices that could be greater than estimated and should not lead to any discoveries; variations in overseas alternate charges; competitors for capital, gear, new leases, pipeline capability and expert personnel; the failure of the holder of licenses, leases and permits to fulfill necessities of such; modifications in royalty regimes; failure to precisely estimate abandonment and reclamation prices; inaccurate estimates and assumptions by administration and/or their three way partnership companions; effectiveness of inside controls; the potential lack of obtainable drilling gear; failure to acquire or preserve key personnel; title deficiencies; geo-political dangers; and threat of litigation.

Readers are cautioned that the foregoing listing of vital components isn’t exhaustive and that these components and dangers are tough 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 explanation why precise outcomes might differ from these mirrored within the forward-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.sedarplus.com, together with below “Danger Elements” within the Annual Data Type.

Any references on this information launch to preliminary manufacturing charges are helpful in confirming the presence of hydrocarbons; nonetheless, such charges will not be determinative of the charges at which such wells will proceed manufacturing and decline thereafter and will not be essentially indicative of long-term efficiency or final restoration. Whereas encouraging, readers are cautioned to not place reliance on such charges in calculating the combination manufacturing for Falcon. Such charges are based mostly on area estimates and could also be based mostly on restricted knowledge obtainable presently.

Neither the TSX Enterprise Alternate nor its Regulation Providers Supplier (as that time period is outlined within the insurance policies of the TSX Enterprise Alternate) accepts duty for the adequacy or accuracy of this launch.

• 101525 FINAL Falcon Press Launch – Completion of the three effectively batch drilling Beetaloo 2025 program