REG-Falcon Oil & Gas Ltd. - Approval for the sale of Falcon’s 98.1% interest in Falcon Oil & Gas Australia Limited to Tamboran group.

Falcon Oil & GasAnnouncement

05/01/2026 07:00

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Falcon Oil & Gas Ltd. 
(“Falcon”)

Approval for the sale of Falcon’s 98.1% interest in Falcon Oil & Gas
Australia Limited to Tamboran group.

05 January 2026 - Falcon Oil & Gas Ltd. (TSXV: FO, AIM: FOG) subsidiary
company, Falcon Oil & Gas Australia Limited (“Falcon Australia”) held a
General Meeting in Brisbane, Australia on 30 December 2025.

At the General Meeting shareholders approved the sale of Falcon’s 98.1%
interest in Falcon Australia to Tamboran Resources Corporation (NYSE: TBN,
ASX: TBN) (“Tamboran group”). Falcon and its associates were excluded from
voting on the relevant resolutions.

The sale is part of a broader transaction whereby, as previously announced,
Tamboran group will acquire all of the subsidiary companies of Falcon, subject
to various regulatory and shareholder approvals.

Acquisition of the 98.1% interest in Falcon Australia will provide Tamboran
group with the option of compulsorily acquiring all the remaining shares in
Falcon Australia held by minority shareholders. Tamboran group has undertaken
to proceed with the compulsory acquisition from minority shareholders at a
price no less than the price being paid to Falcon for its interest in Falcon
Australia.

Philip O’Quigley, CEO of Falcon commented:

“While the broader transaction is still subject to regulatory and
shareholder approvals, this approval by Falcon Australia shareholders
eliminates one of the key conditions precedent allowing Tamboran group to
proceed with the broader transaction, which is still on track to close in the
first quarter of this year”.

Ends.

For further information, please contact:

CONTACT DETAILS:

 Falcon Oil & Gas Ltd.  +353 1 676 8702   
 Philip O'Quigley, CEO  +353 87 814 7042  
 Anne Flynn, CFO        +353 1 676 9162   
                                          
 Cavendish Capital Markets Limited (NOMAD & Broker) 
 Neil McDonald          +44 131 220 9771  



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

For further information on Falcon Oil & Gas Ltd. please visit
www.falconoilandgas.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