April 7 (Reuters) - Falcon Oil & Gas Ltd FO.V :
* FALCON OIL & GAS LTD - SUBSIDIARY FALCON OIL & GAS AUSTRALIA LIMITED EXECUTED AN AGREEMENT WITH ORIGIN ENERGY B2 PTY LTD
* FALCON OIL & GAS LTD - AGREEMENT INCLUDES A RESTATED FARM-OUT AGREEMENT AND JOINT OPERATING AGREEMENT
* FALCON OIL & GAS -TO FARM DOWN 7.5% OF FALCON AUSTRALIA'S 30% PARTICIPATING INTEREST IN EXPLORATION PERMITS IN BEETALOO SUB-BASIN, AUSTRALIA
* FALCON OIL & GAS LTD - ORIGIN WILL ASSUME 25% OF COST OF FALCON AUSTRALIA'S REMAINING CALL OPTION TO REDUCE OVERRIDING ROYALTIES WITH TOG GROUP