Falcon Oil & Gas Ltd. – Information to shareholders

Falcon Oil & Gas Ltd.
(“Falcon” or the “Company”)

Information to shareholders

March 23, 2022 – Falcon Oil & Gas Ltd. OFFOG)) takes note of the recent comments regarding the sanctions imposed on Mr. Viktor Vekselberg.

Falcon is incorporated in British Columbia, Canada, and its shares are listed on the TSX Venture Exchange in Toronto and on the AIM market operated by the London Stock Exchange.

According to the public disclosure of holdings, Lamesa Holding SA (“Bladesa“) owns 16% of the issued share capital of Falcon. Mr. Viktor Vekselberg is a beneficiary of the foundation which owns 100% of the shares of Lamesa. Neither Lamesa nor Mr. Viktor Vekselberg have any influence or control over the operations of Falcon and/or its affiliates and their companies.

The Beetaloo joint venture in the Northern Territory Australia is a joint venture between Origin Energy B2 Pty Ltd., a wholly owned subsidiary of Origin Energy Limited (“Origin“) (77.5%) and Falcon Oil & Gas Australia Limited (22.5%), a 98% subsidiary of Falcon. Origin, as operator and majority owner, controls all activities of the Beetaloo joint venture. Lamesa has no ownership interest in Falcon Oil & Gas Australia Limited other than through its minority stake in Falcon, and has never had any influence or control over the operations of the Beetaloo joint venture.

In April 2018, the United States imposed sanctions on Mr. Viktor Vekselberg. The effect of these US imposed sanctions is that Lamesa’s stake in Falcon has been quarantined since April 2018.

As long as the sanctions imposed by the United States against Mr. Viktor Vekselberg remain in place, Lamesa’s shares in Falcon will remain in quarantine and Mr. Viktor Vekselberg:

  • Cannot benefit directly or indirectly from dividends paid by Falcon or Falcon Oil & Gas Australia Limited.
  • Cannot directly or indirectly benefit from the proceeds of any sale of Lamesa’s shares in Falcon.
  • Cannot vote on Lamesa shares at any Falcon shareholder meeting.

Ends.

CONTACT DETAILS:

Falcon Oil & Gas Ltd. +353 1 676 8702
Philip O’Quigley, CEO +353 87 814 7042
Anne Flynn, Chief Financial Officer +353 1 676 9162
Cenkos Securities plc (NOMAD & Broker)
Neil McDonald/Derrick Lee +44 131 220 9771
Camarco
James Crothers / Rebecca Waterworth / Billy Clegg +44 (0)20 3781 8331

About Falcon Oil & Gas Ltd.
Falcon Oil & Gas Ltd is an international oil and gas company engaged in the exploration and development of unconventional oil and gas assets, with the current portfolio concentrated in Australia, South Africa and Hungary. Falcon Oil & Gas Ltd is incorporated in British Columbia, Canada and based in Dublin, Ireland, with a technical team based in Budapest, Hungary.

Falcon Oil & Gas Australia Limited is a c. 98% subsidiary of Falcon Oil & Gas Ltd. Falcon Oil & Gas Australia Limited and wholly owned subsidiary of Origin Energy Limited ORG (“Origin“) are joint venture partners in the Beetaloo project.

For more information on Falcon Oil & Gas Ltd., please visit www.falconoilandgas.com

About Origin
Origin is a leading Australian integrated energy company. Origin is a leading energy retailer with approximately 4.2 million customer accounts, has approximately 7,500 MW of owned and contracted power generation capacity and is also a major natural gas supplier. Origin is the upstream operator of Australia Pacific LNG, which supplies natural gas to domestic markets and exports LNG under long-term contracts.

www.originenergy.com.au

Certain information contained in this press release may constitute forward-looking information. This information is based on current expectations which are subject to significant risks and uncertainties that are difficult to predict. Actual results may differ materially from the results suggested in the forward-looking statements. Falcon undertakes no obligation to update any forward-looking statements or to update the reasons why actual results could differ from those reflected in the forward-looking statements, except if and until applicable securities laws to Falcon require it. Additional information identifying risks and uncertainties is contained in Falcon’s filings with Canadian securities regulators, which documents are available at www.sedar.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

main logo