By Adria Calatayud

London-listed shares in Falcon Oil & Gas Ltd. (FO.V) rose Wednesday after the company said that drilling results to date from the Kyalla 117 N2-1 appraisal well in Australia are encouraging.

The Dublin-based company, which is listed in Canada and the U.K., said its joint venture with Origin Energy Ltd. (ORG.AU) is now preparing to drill a horizontal section within the Kyalla formation. Once completed, the horizontal section will be fracture-stimulated and tested for production, Falcon said.

Falcon shares in London at 0854 GMT were up 10% at 13.68 pence.

Write to Adria Calatayud at adria.calatayud@dowjones.com

(END) Dow Jones Newswires

November 20, 2019 04:10 ET (09:10 GMT)

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