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Yahoo
16-06-2025
- Business
- Yahoo
Falcon Oil & Gas Ltd. - Another Stellar IP30 Flow Test Result in the Beetaloo
Falcon Oil & Gas Ltd ('Falcon'). Another Stellar IP30 Flow Test Result in the Beetaloo 16 June 2025 – Falcon Oil & Gas Ltd. (TSXV: FO, AIM: FOG) is pleased to announce that Shenandoah S2-2H ST1 ('SS-2H ST1') achieved an average 30-day initial production ('IP30') flow rate of 7.2 million cubic feet per day ('MMcf/d') over 1,671-metres (5,483-foot) across a 35 stage stimulated length within the Amungee Member B-Shale in the Beetaloo Sub-basin, Northern Territory, Australia, making it the highest IP30 result in the Beetaloo to date. Points to note: The normalized flow rate of 13.2 MMcf/d over an extrapolated 10,000-foot horizontal section is in-line with the average of more than 11,000 wells in the Marcellus Shale dry gas area on production over a 12-month period. The results demonstrate the commercial deliverability of gas from the Amungee Member B-Shale in the Australian East Coast gas market that typically sells at a premium to Henry Hub in the United States and under long term CPI-linked contracts. The exit rate trajectory continues a steady, low-declining curve at 6.7 MMcf/d (normalized at 12.2 MMcf/d per 10,000-feet) with a flowing wellhead pressure of ~910 psi. The steady state decline curve on SS-2H ST1 is consistent with that achieved from the Shenandoah South 1H well ('SS-1H'). For further details on the SS-2H ST1 flow test including a table, and charts please refer to Appendix A. Development activity The Shenandoah South drilling campaign is planned to commence in July 2025, targeting up to three 10,000-foot horizontal wells and completed with up to 60 stimulation stages from the SS2 well pad. As previously announced, Falcon Oil & Gas Australia Limited ('Falcon Australia') has opted to reduce its participating interest in the three wells to 0%. Once completed, the five wells on the SS2 pad are planned to be tied into the Sturt Plateau Compression Facility ('SPCF') to feed into a 40 MMcf/d take-or-pay Gas Sales Agreement ('GSA') with the Northern Territory Government. Production remains on track to commence in mid-2026, subject to standard regulatory and stakeholder approvals and favourable weather conditions. The Shenandoah South 4H ('SS-4H') well is planned to be completed and flow tested by the end of 2025, with the remaining wells drilled in the 2025 campaign to be completed during 1H 2026. Completion of the remaining four wells will incorporate lessons from the SS-1H and SS-2H ST1 wells. The five wells are expected to deliver the required 40 MMcf/d volume under a binding take-or-pay agreement with the Northern Territory Government. Philip O'Quigley, CEO of Falcon commented: 'The IP30 flow rate results announced today of 7.2 MMcf/d, are truly stellar and marks another major data point in the Beetaloo Sub-basin again demonstrating that it compares to the best shale wells in the United States. Not only did the results exceed Falcon's pre-drill commercial threshold of a normalised flow rate of 3 MMcf/d per 1,000 metres but had similar flow rates and pressures to SS-1H and SS-2H ST1, which all point towards the significant resource potential of the Beetaloo. Falcon looks forward to the planned completion and testing of SS-4H by the end of 2025 and also to observing the results from the next three wells of the Shenandoah South drilling program and the additional milestones they will establish. As further results become available, we look forward to updating the market further' Ends. 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 / Adam Rae +44 131 220 9771 This announcement has been reviewed by Dr. Gábor Bada, Falcon Oil & Gas Ltd's Technical Advisor. Dr. Bada obtained his geology degree at the Eötvös L. University in Budapest, Hungary and his PhD at the Vrije Universiteit Amsterdam, the Netherlands. He is a member of AAPG. 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. Falcon Oil & Gas Ltd is incorporated in British Columbia, Canada and headquartered in Dublin, Ireland. Falcon Oil & Gas Australia Limited is a c. 98% subsidiary of Falcon Oil & Gas Ltd. For further information on Falcon Oil & Gas Ltd. Please visit About Beetaloo Joint Venture (EP 76, 98 and 117) Company Interest Falcon Oil & Gas Australia Limited (Falcon Australia) 22.5% Tamboran (B2) Pty Limited ('Tamboran') 77.5% Total 100.0% Shenandoah South Pilot Project -2 Drilling Space Units – 46,080 acres Company Interest Falcon Oil & Gas Australia Limited (Falcon Australia) 5.0% Tamboran (B2) Pty Limited 95.0% Total 100.0%About Tamboran (B2) Pty LimitedTamboran (B1) Pty Limited ('Tamboran B1') is the 100% holder of Tamboran (B2) Pty Limited, with Tamboran B1 being a 50:50 joint venture between Tamboran Resources Corporation and Daly Waters Energy, LP. Tamboran Resources Corporation is a natural gas company listed on the NYSE (TBN) and ASX (TBN). Tamboran is focused on playing a constructive role in the global energy transition towards a lower carbon future, by developing the significant low CO2 gas resource within the Beetaloo Sub-basin through cutting-edge drilling and completion design technology as well as management's experience in successfully commercialising unconventional shale in North America. Bryan Sheffield of Daly Waters Energy, LP is a highly successful investor and has made significant returns in the US unconventional energy sector in the past. He was Founder of Parsley Energy Inc. ('PE'), an independent unconventional oil and gas producer in the Permian Basin, Texas and previously served as its Chairman and CEO. PE was acquired for over US$7 billion by Pioneer Natural Resources Company. Appendix A - SS-2H ST1 Flow Test Details Note to reader: Please refer to the PDF attachment included at the end of this press release for further details including a table and charts related to the SS-2H ST1 flow test results Advisory regarding forward-looking statementsCertain information in this press release may constitute forward-looking information. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking information. Forward-looking information typically contains statements with words such as 'may', 'will', 'should', 'expect', 'intend', 'plan', 'anticipate', 'believe', 'estimate', 'projects', 'dependent', 'consider' 'potential', 'scheduled', 'forecast', 'anticipated', 'outlook', 'budget', 'hope', 'suggest', 'support' 'planned', 'approximately', 'potential' or the negative of those terms or similar words suggesting future outcomes. In particular, forward-looking information in this press release includes, details on the IP30 flow test results of SS-2H ST1 including assumptions that the results are in line with average of more than 11,000 wells in the Marcellus Shale dry gas area on production over a 12-month period and that they demonstrate the commercial deliverability of gas from the Amungee Member B-Shale in the Australian East Coast gas market that typically sells at a premium to Henry Hub in the United States and under long term CPI-linked contracts; consistency of the results of SS-2H ST1 with SS-1H; details on the planned three well drilling campaign including the plan to commence in July 2025 and to continue into 1H 2026; the plan to tie the wells to the SPCF under a GSA with the Northern Territory Government in mid-2026; the plan that SS-4H will be completed and flow tested by the end of 2025; the five wells drilled are expected to deliver the required 40 MMcf/d under a GSA with the Northern Territory Government; This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. The risks, assumptions and other factors that could influence actual results include risks associated with fluctuations in market prices for shale gas; risks related to the exploration, development and production of shale gas reserves; general economic, market and business conditions; substantial capital requirements; uncertainties inherent in estimating quantities of reserves and resources; extent of, and cost of compliance with, government laws and regulations and the effect of changes in such laws and regulations; the need to obtain regulatory approvals before development commences; environmental risks and hazards and the cost of compliance with environmental regulations; aboriginal claims; inherent risks and hazards with operations such as mechanical or pipe failure, cratering and other dangerous conditions; potential cost overruns, drilling wells is speculative, often involving significant costs that may be more than estimated and may not result in any discoveries; variations in foreign exchange rates; competition for capital, equipment, new leases, pipeline capacity and skilled personnel; the failure of the holder of licenses, leases and permits to meet requirements of such; changes in royalty regimes; failure to accurately estimate abandonment and reclamation costs; inaccurate estimates and assumptions by management and/or their joint venture partners; effectiveness of internal controls; the potential lack of available drilling equipment; failure to obtain or keep key personnel; title deficiencies; geo-political risks; and risk of litigation. Readers are cautioned that the foregoing list of important factors is not exhaustive and that these factors and risks are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. Falcon assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements unless and until required by securities laws applicable to Falcon. Additional information identifying risks and uncertainties is contained in Falcon's filings with the Canadian securities regulators, which filings are available at including under "Risk Factors" in the Annual Information Form. Any references in this news release to initial production rates are useful in confirming the presence of hydrocarbons; however, such rates are not determinative of the rates at which such wells will continue production and decline thereafter and are not necessarily indicative of long-term performance or ultimate recovery. While encouraging, readers are cautioned not to place reliance on such rates in calculating the aggregate production for Falcon. Such rates are based on field estimates and may be based on limited data available at this time. 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. The information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018. Upon publication of this announcement, this inside information is now considered to be in the public domain. Attachment 061625 Final Falcon Press Release - SS-2H ST1 IP30 v2
Forbes
25-04-2025
- Forbes
DOGE-Trolling Ransomware Hackers Demand $1 Trillion In Chilling Attack
These DOGE ransowmare hackers demand a trillion dollar payment. Update, April 25, 2025: This story, originally published April 23, has been updated with further details regarding the DOGE ransomware attack and information from a new FBI report about the FOG malware threat used following the latest trillion-dollar ransom note demand. The same criminal group behind the DOGE Big Balls ransomware attack has just upped the ante. A newly updated ransom note sent to victims is now trolling Elon Musk and DOGE by demanding a ridiculous extortion fee of, and I trust you are sitting down, one trillion dollars from victims. This one has Dr Evil written all over it. Here's everything you need to know about the DOGE ransomware attackers, the FOG malware they have adapted, and the nature of that outrageous ransom note demand. Although there is no doubt that ransomware threats should be taken very seriously, what with a massive surge in ransomware attacks this year, new password-cracking tools being employed to gain initial access, and some very concerning political moves by big names in the extortion-racket industry, not all the players take themselves as seriously it would seem. I certainly hope that's the case as far as the DOGE ransomware attackers and the newly updated ransom note left for victims is concerned. The ransomware group behind the recent DOGE Big Balls threat, using a variant of existing malware known as FOG, and trying to pin responsibility for the attacks on a well-known member of the Department of Government Efficiency team, has just updated its ransom note. The original threat was already bad enough, using a ZIP file with a deceptive shortcut to execute a multi-stage PowerShell infection chain exploiting a known Windows vulnerability, CVE-2015-2291, to gain kernel-level access and privilege escalation. The attack also, it has to be said, employed the political commentary and conspiracy theory tactic within the ransomware scripts and code. These included such things as 'The CIA didn't kill Kennedy you idiot. Oswald is a very deranged person that felt ostracized by his own country.' Now, as detailed in an April 21 security report by researchers Nathaniel Morales and Sarah Pearl Camiling at Trend Micro, the ransomware appears to have started trolling DOGE and Elon Musk mercilessly. In reference to the now-infamous Musk demand for federal workers to email DOGE what they had achieved, leaving them fearing for their jobs if they did not comply, the ransom note has been altered to read: 'Give me five bullet points on what you accomplished for work last week or you owe me a TRILLION dollars.' In an April 23 FBI internet crime report, B. Chad Yarbrough, the FBI operations director for criminal and cyber, confirmed that ransomware is 'the most pervasive threat to critical infrastructure' and played an increasingly important role in the $16.6 billion cost of cybercrime to individuals and organizations in the U.S. across 2024. Interestingly, the FBI report said that the FOG ransomware threat, a variant of which has been used in the DOGE Big Balls attacks, was the most reported of new ransomware attacks during 2024. The bureau's Internet Crime Complaint Center provides this information to field offices to help the FBI 'identify new ransomware variants, discover the enterprises the threat actors are targeting, and determine whether critical infrastructure is being targeted,' the FBI said. 'The most alarming thing about the FBI's IC3 report is that its numbers are just the tip of the formidable iceberg of organized cybercrime,' Dr Ilia Kolochenko, CEO at ImmuniWeb, said. Warning that a 'growing number' of U.S. organizations prefer to silently settle with ransomware groups that carry a strong reputation for keeping attacks and data confidential following payment, Kolochenko said that it's likely we will see this option continue to be taken. 'In all cases,' Kolochenko advised, 'the final decision to pay or not to pay should be brainstormed with cybercrime experts and lawyers having experience in such matters. Otherwise, you are running a sprint on thin ice.' In the case of the DOGE attacks, maybe less consideration is required when the demand is for a trillion dollars. 'The ransomware payload embedded in the samples has been verified as FOG ransomware,' the Trend Micro report warned, 'an active ransomware family targeting both individuals and organizations.' 'FOG ransomware is a relatively new ransomware family that enterprises must add to their watchlist,' Trend Micro said, adding that 'the impact of a successful ransomware attack could still potentially cost enterprises financial loss and operational disruption,' regardless of the DOGE references and the trolling nature of the ransom note itself. The security researchers noted that the FOG ransomware itself has compromised some 100 victims in the first three months of the year, before the DOGE-trolling started, it would seem. In January, there were 18 victims, 53 in February and 29 in March. Trend Micro said that the de-obfuscated script in the ransom note executed a PowerShell command which performs a multi-stage operation: retrieving a ransomware loader ( and other PowerShell scripts. 'It also opens politically themed YouTube videos and includes written political commentary directly in the script,' the report stated, which adds to the trolling-element of the attack. FOG also takes your security very seriously, at least as far as stopping defenders from analyzing the malware is concerned. 'We have observed that prior to dropping its payload,' the security researchers confirmed, 'the malware investigated checks various indicators, such as processor count, RAM, MAC address, registry, and tick count, to detect a sandbox.' If any of these security checks should fail, then FOG will exit the entire process. As such, it's imperative that you do not think that just because the attackers might act like clowns, the threat itself isn't serious. Indeed, the ransomware demand itself is all business. 'We are the ones who encrypted your data and also copied some of it to our internal resource,' the attackers state. They then advise the victim that the sooner they are contacted, the sooner they can get everything resolved, offering instructions on using a Tor browser to get the next steps. The DOGE references are not the only trolling in the updated ransom note, there's also a 'Don't snitch now' warning. This could be in response to the ransomware informer platform that I have previously reported on. The humor — I guess that's what it is an attempt at — continues with a warning from the attackers that they have 'grabbed your trilatitude and trilongitude (the most accurate) coordinates of where you live,' in order to prove that they are lying. Not lying and not funny, but not to be ignored either.
Forbes
24-04-2025
- Business
- Forbes
DOGE-Trolling Ransomware Hackers Demand $1 Trillion
These DOGE ransowmare hackers demand a trillion dollar payment. Update, April 24, 2025: This story, originally published April 23, has been updated with information from a new FBI ransomware report following the latest DOGE attackers' trillion-dollar ransom demand. The same criminal group behind the DOGE Big Balls ransomware attack has just upped the ante. A newly updated ransom note is now using Elon Musk and DOGE references with a demand for, are you sitting down, one trillion dollars from victims. Although there is no doubt that ransomware threats should be taken very seriously, what with a massive surge in ransomware attacks this year, new password-cracking tools being employed to gain initial access, and some very concerning political moves by big names in the extortion-racket industry, not all the players take themselves seriously it would seem. The ransomware group behind the recent DOGE Big Balls threat, using a variant of existing malware known as FOG, and trying to pin responsibility for the attacks on a well-known member of the Department of Government Efficiency team, has just updated its ransom note. As detailed in an April 21 security report by researchers Nathaniel Morales and Sarah Pearl Camiling at Trend Micro, the ransomware now appears to have started trolling DOGE and Elon Musk mercilessly. In reference to the now-infamous Musk demand for federal workers to email DOGE what they had achieved, leaving them fearing for their jobs if they did not comply, the ransom note has been altered to read: 'Give me five bullet points on what you accomplished for work last week or you owe me a TRILLION dollars.' In an April 23 FBI internet crime report, B. Chad Yarbrough, the FBI operations director for criminal and cyber, confirmed that ransomware is 'the most pervasive threat to critical infrastructure' and played an increasingly important role in the $16.6 billion cost of cybercrime to individuals and organizations in the U.S. across 2024. Interestingly, the FBI report said that the FOG ransomware threat, a variant of which has been used in the DOGE Big Balls attacks, was the most reported of new ransomware attacks during 2024. The bureau's Internet Crime Complaint Center provides this information to field offices to help the FBI 'identify new ransomware variants, discover the enterprises the threat actors are targeting, and determine whether critical infrastructure is being targeted,' the FBI said. 'The most alarming thing about the FBI's IC3 report is that its numbers are just the tip of the formidable iceberg of organized cybercrime,' Dr Ilia Kolochenko, CEO at ImmuniWeb, said. Warning that a 'growing number' of U.S. organizations prefer to silently settle with ransomware groups that carry a strong reputation for keeping attacks and data confidential following payment, Kolochenko said that it's likely we will see this option continue to be taken. 'In all cases,' Kolochenko advised, 'the final decision to pay or not to pay should be brainstormed with cybercrime experts and lawyers having experience in such matters. Otherwise, you are running a sprint on thin ice.' In the case of the DOGE attacks, maybe less consideration is required when the demand is for a trillion dollars. 'The ransomware payload embedded in the samples has been verified as FOG ransomware,' the Trend Micro report warned, 'an active ransomware family targeting both individuals and organizations.' As such, it's imperative that you do not think that just because the attackers might act like clowns, the threat itself isn't serious. Indeed, the ransomware demand itself is all business. 'We are the ones who encrypted your data and also copied some of it to our internal resource,' the attackers state. They then advise the victim that the sooner they are contacted, the sooner they can get everything resolved, offering instructions on using a Tor browser to get the next steps. The DOGE references are not the only trolling in the updated ransom note, there's also a 'Don't snitch now' warning. This could be in response to the ransomware informer platform that I have previously reported on. The humor — I guess that's what it is an attempt at — continues with a warning from the attackers that they have 'grabbed your trilatitude and trilongitude (the most accurate) coordinates of where you live,' in order to prove that they are lying. Not lying and not funny, but not to be ignored either. Report any such attacks to the FBI here.
Forbes
23-04-2025
- Business
- Forbes
DOGE Ransomware Hackers Demand $1 Trillion
These DOGE ransowmare hackers demand a trillion dollar payment. The same criminal group behind the DOGE Big Balls ransomware attack has just upped the ante. A newly updated ransom note sent to victims is now trolling Elon Musk and DOGE with a demand for, are you sitting down, one trillion dollars. Although there is no doubt that ransomware threats should be taken very seriously, what with a massive surge in ransomware attacks this year, new password-cracking tools being employed to gain initial access, and some very concerning political moves by big names in the extortion-racket industry, not all the players take themselves seriously it would seem. The ransomware group behind the recent DOGE Big Balls threat, using a variant of existing malware known as FOG, and trying to pin responsibility for the attacks on a well-known member of the Department of Government Efficiency team, has just updated their ransom note. As detailed in an April 21 security report by researchers Nathaniel Morales and Sarah Pearl Camiling at Trend Micro, the ransomware now appears to have started trolling DOGE and Elon Musk mercilessly. In reference to the now-infamous Musk demand for federal workers to email DOGE what they had achieved, leaving them fearing for their jobs if they did not comply, the ransom note has been altered to read: 'Give me five bullet points on what you accomplished for work last week or you owe me a TRILLION dollars.' 'The ransomware payload embedded in the samples has been verified as FOG ransomware,' the Trend Micro report warned, 'an active ransomware family targeting both individuals and organizations.' As such, it's imperative that you do not think that just because the attackers might act like clowns, the threat itself isn't serious. Indeed, the ransomware demand itself is all business to begin with. 'We are the ones who encrypted your data and also copied some of it to our internal resource,' the attackers state. They then advise the victim that the sooner they are contacted, the sooner they can get everything resolved, offering instructions on using a Tor browser to get the next steps. The DOGE references are not the only trolling in the updated ransom note, there's also a 'Don't snitch now' warning. This could be in response to the ransomware informer platform that I have previously reported on. The humor, and I guess that's what it is an attempt at, continues with a warning from the attackers that they have 'grabbed your trilatitude and trilongitude (the most accurate) coordinates of where you live,' in order to prove that they are lying. Not lying and not funny, but not to be ignored either. Report any such attacks to the FBI here.
Yahoo
22-04-2025
- Yahoo
Ransomware Gang Takes Page From Elon's 'What Did You Do This Week' DOGE Emails
PCMag editors select and review products independently. If you buy through affiliate links, we may earn commissions, which help support our testing. A ransomware gang is channeling Elon Musk's Department of Government Efficiency by taunting victims with ransom notes that demand to know what they've "accomplished for work" in the last week. The FOG ransomware group has been distributing the DOGE-themed notes in recent weeks, according to malware samples that cybersecurity vendor Trend Micro discovered on the file-scanning service VirusTotal. 'We observed that these samples initially dropped a note containing key names related to the Department of Government Efficiency (DOGE),' Trend Micro says. The ransom notes also allude to Edward Coristine, who uses the online alias 'Big Balls." He reportedly has a history with cybercriminal groups, but was still appointed to Musk's DOGE team. A separate cybersecurity firm, Cyble, spotted the same attack generating a pop-up on computers that says 'DOGE BIG BALLS RANSOMWARE.' The FOG ransomware gang appears to be spreading its attack through phishing emails with an attachment titled "Pay If opened, the attachment will download and execute a PowerShell script designed to load the ransomware loader in " along with other malicious programs. "It also opens politically themed YouTube videos and includes written political commentary directly in the script,' Trend Micro notes. The attack is designed to gather data on the victim's PC before encrypting the files, and then leaving a ransom note, demanding the victim pay approximately $1,000 in the Monero cryptocurrency. According to Cyble, the ransom note, titled introduces the threat actor as 'Edward Coristine,' and lists his purported home address and phone number. The note then echoes Elon Musk's recent emails to federal workers and demand that victims justify their productivity by listing their weekly accomplishments. 'Give me five bullet points on what you accomplished for work last week or you owe me a TRILLION dollars,' the ransom note from the FOG gang says. 'The use of Coristine's name and the 'DOGE' reference in the ransomware could be a tactic to malign him and the DOGE initiative,' Cyble adds. In the ransom note, the FOG group also claims they'll decrypt the files for free, but only if the victim spreads the ransomware attack to another victim. 'FOG ransomware is a relatively new ransomware family that enterprises must add to their watchlist,' Trend Micro warns. The gang claims to have attacked over 100 victims, including organizations in the education, manufacturing, and transportation sectors, since January. Meanwhile, the official "what did you do this week" emails from DOGE are reportedly a bust. The Washington Post reports that the Office of Personnel Management basically told HR officials across the government that the emails are voluntary and that the agency didn't plan to do anything with the emails that were submitted.
