The TSX Venture Exchange has accepted for filing documentation pertaining to a farm-in agreement and joint operating agreement between Falcon Oil & Gas Australia Ltd., a 98-per-cent-held subsidiary of Falcon Oil & Gas Ltd., Origin Energy Resources Ltd., a subsidiary of Origin Energy Ltd., and Sasol Petroleum Australia Ltd., a subsidiary of Sasol Ltd., whereby each farm-inee will farm into 35 per cent of the company's exploration permits in the Beetaloo basin, Australia.
As consideration for the permits, the company will receive $20-million (Australian) in cash from the farm-inees.
For further details, please refer to the company's news release dated May 2, 2014.
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