08:14 AM EDT, 08/11/2025 (MT Newswires) -- Falcon Oil & Gas ( FOLGF ) traded 10% higher at last look Monday in U.K. trading as the company reported a positive production result at the Shenandoah South 2H Sidetrack well within the Amungee Member B-Shale in the Beetaloo sub-basin, Australia.

The company said that Shenandoah South achieved an average 90-day initial production flow rate of 6.7 million cubic feet per day over 1,671 meters in an IP90 flow test.

The well has now been suspended ahead of the commencement of gas sales to the Northern Territory Government via the Sturt Plateau compression facility in mid-2026, Falcon said.

"The results we are seeing from the wells drilled and flow tested to date in the Shenandoah area of the Beetaloo illustrate the huge commercial potential of this area and augur extremely well for the pilot program and any subsequent larger scale development," CEO Philip O'Quigley said.

Falcon said it continues to advance its 2025 drilling campaign. On completion of the intermediate section of the S2-5H well, the company plans to commence drilling of the 10,000-foot horizontal sections of the three wells.