The Toronto-listed company has a preliminary permit that opens the door to exploration in 7.5 million acres in the southern part of the basin.
Falcon said it will work with the US supermajor over a period of five years to gain exploration permits in the area. Chevron will pitch in up to $1 million for costs, Falcon said.
Chevron confirmed a "conditional agreement with Falcon" to Upstream but said no further details would be revealed at present.
"Today's
