Falcon Oil & Gas Ltd. has decided to decrease its working interest in the proposed Shenandoah South Pilot Project from 22.5% to 5%. This strategic move allows Falcon to optimize its interest in the Beetaloo, as it will only be responsible for 5% of the costs of the two wells to be drilled in 2024 as part of the Pilot. Despite the reduction, Falcon will still retain a 10% working interest in the enlarged area of approximately 72,000 acres around the Pilot and a 22.5% working interest in the remaining 4.52 million acres.

For more detailed information, the full press release is available on Falcon Oil & Gas Ltd.'s main website homepage, under the Investor Centre section selecting Press Releases or by visiting the following link: Falcon Optimises its Interest in the Beetaloo - Falcon Oil & Gas (falconoilandgas.com).