Origin provides the following statement in response to questions about its Beetaloo Basin joint venture partner, Falcon Oil & Gas (Falcon), and one of its shareholders, Lamesa Holdings.
Origin is appalled by the Russian aggression and invasion of Ukraine.
Origin is the majority shareholder in the Beetaloo Basin joint venture and as operator, has significant control over any activities. Origin currently carries 100 per cent of the costs of exploration activity in the Beetaloo Basin, with no funds being provided by Falcon. Origin is only exploring for liquids-rich gas in the Beetaloo; there is currently no gas production or earnings related to this venture.
Origin has no direct contact with Lamesa Holdings or any shareholders of Falcon, nor do these investors have any influence over activities in the Beetaloo Basin.
Nevertheless, given the Russian invasion, Origin is concerned about Lamesa Holding’s investment in Falcon. Origin has expressed its concerns directly to Falcon, and acknowledges the company’s responsiveness, noting the announcement that Russian businessman Maxim Mayorets has agreed to step down from the Falcon board effective immediately.
Origin will continue to monitor this situation closely, and will adhere to rules set by the Australian Government, or other governments as appropriate, with respect to sanctions that may be put in place.
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