09:55 AM EST - Falcon Oil & Gas Ltd. : said that Hess Australia (Beetaloo) Pty Ltd (Hess) did not elect to commit to drilling the five wells required to earn their interest in the Beetaloo permits by the agreed deadline of 10:00 pm June 28. Falcon Australia, Falcon's 72.7% owned subsidiary, is the registered holder of four exploration permits covering approximately 7 million acres in the Beetaloo Basin, a sparsely populated area of the Northern Territory. Falcon Oil & Gas Ltd.
shares V.FO are trading down $0.03 at $0.21.
