Paltar, through its joint venture agreement with 50% partner, Sweetpea Petroleum Pty Ltd, has applied for 3 licences in the Beetaloo Basin (EPA 136, EPA 143 and EPA 197).

Paltar’s tenement applications are located around 4 other exploration permits held by Falcon Oil & Gas Australia.

Paltar believes that Falcon has discovered one of the world’s largest in place oil and gas deposits. Independent engineering firm Ryder Scott report states an estimated potential resource of approximately 500 billion barrels of oil, and 500 trillion cubic feet of gas in place. There are two world class shales over 800 metres thick. The sweet spots are remarkably consistent in thickness and are regionally pervasive. Marc Bruner and Paltar’s Chief Geologist, Ben Law, believes these shales and sweet spots extend into its adjacent property of over 2 million acres.