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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 | 278,143 | 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
19 May 2022 - Falcon Oil & Gas Ltd. (TSXV: FO, AIM: FOG) announces that it has filed its Interim Financial Statements for the three months ended 31 March 2022 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 months ended 31 March 2022, 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.
Q1 2022 Financial Highlights
-- Strong financial position, debt free with cash of US$8.3 million at 31 March 2022 (31 December 2021: US$8.9 million). -- Continued focus on strict cost management and 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
(Unaudited)
Three months Three months ended ended 31 March 31 March 2022 2021 $'000 $'000 Revenue Oil and natural gas revenue - 2 - 2 Expenses Exploration and evaluation expenses (40) (40) General and administrative expenses (608) (1,031) Foreign exchange loss (45) (155) (693) (1,226) ----------------------------------- ------------ ------------ Results from operating activities (693) (1,224) Finance income 3 1 Finance expense (60) (67) Net finance expense (57) (66) Loss and comprehensive loss for the period (750) (1,290) Loss and comprehensive loss attributable to: Equity holders of the company (750) (1,289) Non-controlling interests - (1) Loss and comprehensive loss for the period (750) (1,290) ------------------------------------- ------------ ------------ Loss per share attributable to equity holders of the company: Basic and diluted ($0.001) ($0.001)
Interim Condensed Consolidated Statement of Financial Position
(Unaudited)
At 31 March At 31 December 2022 2021 $'000 $'000 Assets Non-current assets Exploration and evaluation assets 40,237 40,197 Property, plant and equipment 11 13 Trade and other receivables 23 22 Restricted cash 2,200 2,239 42,471 42,471 ---------------------------------- ----------- -------------- Current assets Cash and cash equivalents 8,301 8,894 Trade and other receivables 162 74 8,463 8,968 ---------------------------------- ----------- -------------- Total assets 50,934 51,439 ----------------------------------- ----------- -------------- Equity and liabilities Equity attributable to owners of the parent Share capital 392,170 392,170 Contributed surplus 46,390 46,254 Deficit (400,616) (399,866) 37,944 38,558 Non-controlling interests 698 698 Total equity 38,642 39,256 ----------------------------------- ----------- -------------- Liabilities Non-current liabilities Decommissioning provision 11,834 11,775 11,834 11,775 ---------------------------------- ----------- -------------- Current liabilities Accounts payable and accrued expenses 458 408 458 408 Total liabilities 12,292 12,183 ----------------------------------- ----------- -------------- Total equity and liabilities 50,934 51,439 ----------------------------------- ----------- --------------
Interim Condensed Consolidated Statement of Cash flows
(Unaudited)
Three months ended 31 March 2022 2021 $'000 $'000 Cash flows from operating activities Net loss for the period (750) (1,290) Adjustments for: Share based compensation 136 565 Depreciation 2 1 Net finance expense 57 66 Effect of exchange rates on operating activities 45 155 Transfer of Canadian working interests - (28) Change in non-cash working capital: Increase in trade and other receivables (89) (43) Increase in accounts payable and accrued expenses 30 24 Net cash used in operating activities (569) (550) Cash flows from investing activities Interest received 3 1 Exploration and evaluation assets (29) - Net cash (used in) / generated by investing activities (26) 1 Change in cash and cash equivalents (595) (549) Effect of exchange rates on cash and cash equivalents 2 (5) Cash and cash equivalents at beginning of period 8,894 11,036 Cash and cash equivalents at end of period 8,301 10,482 --------------------------------------------- ---------- -----------
All dollar amounts in this document are in United States dollars "$", 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
May 19, 2022 02:00 ET (06:00 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
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