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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Falcon Oil & Gas Ltd. | LSE:FOG | London | Ordinary Share | CA3060711015 | COM SHS NPV (DI) |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 6.60 | 6.50 | 6.70 | 6.60 | 6.60 | 6.60 | 319,216 | 07:34:23 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Crude Petroleum & Natural Gs | 0 | -3.99M | -0.0038 | -31.58 | 125.32M |
TIDMFOG
FALCON OIL & GAS LTD.
("Falcon")
Filing of Interim Financial Statements
27 August 2021 - Falcon Oil & Gas Ltd. (TSXV: FO, AIM: FOG) announces that it has filed its Interim Financial Statements for the three and six months ended 30 June 2021 and the accompanying Management's Discussion and Analysis ("MD&A").
The following should be read in conjunction with the complete unaudited unreviewed Interim Financial Statements and the accompanying MD&A for the three and six months ended 30 June 2021, which are available on the Canadian System for Electronic Document Analysis and Retrieval ("SEDAR") at www.sedar.com and on Falcon's website at www.falconoilandgas.com.
2021 financial highlights and other financial updates
-- Strong financial position, debt free with cash of US$10 million at 30 June 2021 (31 December 2020: US$11 million). -- Continued focus on cost management and the efficient operation of the portfolio.
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 Cenkos Securities plc (NOMAD & Broker) Neil McDonald / Derrick Lee +44 131 220 9771
Interim Condensed Consolidated Statement of Operations and Comprehensive (Loss) / Income
(Unaudited)
Three months Three months Six months Six months ended 30 ended 30 ended 30 ended 30 June 2021 June 2020 June 2021 June 2020 $'000 $'000 $'000 $'000 Revenue Oil and natural gas revenue - 1 2 2 - 1 2 2 Expenses Exploration and evaluation expenses (42) (35) (82) (73) Production and operating expenses - (3) - (5) General and administrative expenses (449) (597) (915) (1,000) Share based compensation (182) - (747) - Foreign exchange gain / (loss) 37 17 (118) (11) (636) (618) (1,862) (1,089) ---------------------------------- ------------ ------------ ---------- ------------ Results from operating activities (636) (617) (1,860) (1,087) Fair value gain -- outstanding warrant - - - 110 Finance income 2 874 3 15 Finance expense (59) (58) (126) (279) Net finance (expense) / income (57) 816 (123) (264) (Loss) / income and comprehensive (loss) / income for the period (693) 199 (1,983) (1,241) (Loss) / income and comprehensive (loss) / income attributable to: Equity holders of the company (693) 183 (1,982) (1,238) Non-controlling interests - 16 (1) (3) (Loss) / income and comprehensive (loss) / income for the period (693) 199 (1,983) (1,241) ---------------------------------- ------------ ------------ ---------- ------------ (Loss) / income per share attributable to equity holders of the company: Basic and diluted (0.001 cent) 0.000 cent (0.002 (0.001 cent) cent) ---------------------------------- ------------ ------------ ---------- ------------
Interim Condensed Consolidated Statement of Financial Position
(Unaudited)
At 30 June At 31 December 2021 2020 $'000 $'000 Assets Non-current assets Exploration and evaluation assets 40,188 40,444 Property, plant and equipment 3 4 Trade and other receivables 23 23 Restricted cash 2,360 2,429 42,574 42,900 ---------------------------------- ---------- -------------- Current assets Cash and cash equivalents 9,974 11,036 Trade and other receivables 112 117 10,086 11,153 ---------------------------------- ---------- -------------- Total assets 52,660 54,053 ----------------------------------- ---------- -------------- Equity and liabilities Equity attributable to owners of the parent Share capital 392,170 392,170 Contributed surplus 45,822 45,075 Retained deficit (397,155) (395,173) 40,837 42,072 Non-controlling interests 700 701 Total equity 41,537 42,773 ----------------------------------- ---------- -------------- Liabilities Non-current liabilities Decommissioning provision 10,653 10,563 10,653 10,563 ---------------------------------- ---------- -------------- Current liabilities Accounts payable and accrued expenses 470 717 470 717 Total liabilities 11,123 11,280 ----------------------------------- ---------- -------------- Total equity and liabilities 52,660 54,053 ----------------------------------- ---------- --------------
Interim Condensed Consolidated Statement of Cash Flows
(Unaudited)
Six months ended 30 June 2021 2020 $'000 $'000 Cash flows from operating activities Net loss for the period (1,983) (1,241) Adjustments for: Share based compensation 747 - Depreciation 1 - Fair value gain - outstanding warrant - (110) Net finance expense 123 264 Effect of exchange rates on operating activities 118 11 Transfer of Canadian working interests (28) - Change in non-cash working capital: Decrease in trade and other receivables 5 46 (Decrease) / increase in accounts payable and accrued expenses (43) 37 Net cash used in operating activities (1,060) (993) Cash flows from investing activities Interest received 3 15 Exploration and evaluation assets (2) (48) Net cash generated from / (used in) investing activities 1 (33) Change in cash and cash equivalents (1,059) (1,026) Effect of exchange rates on cash & cash equivalents (3) (225) Cash and cash equivalents at beginning of period 11,036 13,066 Cash and cash equivalents at end of period 9,974 11,815 ------------------------------------------- ------------ ------------
All dollar amounts in this document are in United States dollars "$", except as otherwise indicated.
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, South Africa and Hungary. Falcon Oil & Gas Ltd is incorporated in British Columbia, Canada and headquartered in Dublin, Ireland with a technical team based in Budapest, Hungary.
For further information on Falcon Oil & Gas Ltd. please visit www.falconoilandgas.com
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.
Certain information in this press release may constitute forward-looking information. This information is based on current expectations that are subject to significant risks and uncertainties that 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 www.sedar.com.
(END) Dow Jones Newswires
August 27, 2021 02:00 ET (06:00 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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