REG-Falcon Oil & Gas Ltd - Filing of Interim Financial Statements
29/08/2025 07:00
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FALCON OIL & GAS LTD.
(“Falcon”)
Filing of Interim Financial Statements
29 August 2025 - 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 2025 and 2024 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 2025, which are available on the Canadian
System for Electronic Document Analysis and Retrieval (“SEDAR+”) at
https://www.sedarplus.ca and on Falcon’s website at www.falconoilandgas.com.
H1 2025 financial highlights and other financial updates
* Cash of $4.8 million at 30 June 2025 (31 December 2024: $6.8 million).
* Continued focus on cost management and the efficient operation of the
portfolio.
Ends.
For further information, please contact:
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
Cavendish Capital Markets Limited (NOMAD & Broker)
Neil McDonald / Adam Rae +44 131 220 9771
Falcon Oil & Gas Ltd.
Interim Condensed Consolidated Statement of Operations and Comprehensive Loss
(Unaudited)
Three months ended 30 June 2025 $’000 Three months ended 30 June 2024 $’000 Six months ended 30 June 2025 $’000 Six months ended 30 June 2024 $’000
Revenue
Oil and natural gas revenue - - - -
- - - -
Other income
Other income 63 - 63 -
63 - 63 -
Expenses
Exploration and evaluation expenses (45) (42) (85) (86)
General and administrative expenses (512) (550) (1,003) (1,078)
Foreign exchange gain / (loss) 96 (78) 172 42
(461) (670) (916) (1,122)
Results from operating activities (398) (670) (853) (1,122)
Finance income 172 10 271 18
Finance expense (149) (89) (290) (451)
Net finance income / (expense) 23 (79) (19) (433)
Loss and comprehensive loss for the period (375) (749) (872) (1,555)
Loss and comprehensive loss attributable to:
Equity holders of the company (374) (747) (871) (1,551)
Non-controlling interests (1) (2) (1) (4)
Loss and comprehensive loss for the period (375) (749) (872) (1,555)
Loss per share attributable to equity holders of the company:
Basic and diluted (0.000 cent) (0.001 cent) (0.001 cent) (0.001 cent)
Falcon Oil & Gas Ltd.
Interim Condensed Consolidated Statement of Financial Position
(Unaudited)
At 30 June 2025 $’000 At 31 December 2024 $’000
Assets
Non-current assets
Exploration and evaluation assets 55,004 50,291
Right of use assets 12 0
Accounts receivable 435 56
Restricted cash 2,302 2,040
57,753 52,387
Current assets
Cash and cash equivalents 4,824 6,823
Accounts receivable 115 3,031
4,939 9,854
Total assets 62,692 62,241
Equity and liabilities
Equity attributable to owners of the parent
Share capital 406,684 406,684
Contributed surplus 47,446 47,446
Retained deficit (411,026) (410,155)
43,104 43,975
Non-controlling interests 689 690
Total equity 43,793 44,665
Liabilities
Non-current liabilities
Decommissioning provision 16,995 16,587
16,995 16,587
Current liabilities
Accounts payable and accrued expenses 1,888 989
Lease liabilities 16 0
1,904 989
Total liabilities 18,899 17,576
Total equity and liabilities 62,692 62,241
Falcon Oil & Gas Ltd.
Interim Condensed Consolidated Statement of Cash Flows
(Unaudited)
Six months ended 30 June
2025 $’000 2024 $’000
Cash flows from operating activities
Net loss for the period (872) (1,555)
Adjustments for:
Share based compensation 0 62
Depreciation 0 2
Amortisation of right of use assets 26 0
Proceeds from sale of fixed asset (63) 0
Net finance expense 19 433
Effect of exchange rates on operating activities (171) (42)
Change in non-cash working capital:
Increase in accounts receivables (87) (48)
(Decrease) / increase in accounts payable and accrued expenses (41) 12
Net cash used in operating activities (1,189) (1,136)
Cash flows from investing activities
Interest received 14 18
Legacy exploration permit bonds refunded 19 0
R&D tax incentive refunded 2,962 0
Proceeds from sale of fixed assets 63 0
Proceeds from sale of ORRI’s 0 4,000
Exploration and evaluation assets (4,093) (3,755)
Net cash (used in) / generated from investing activities (1,035) 263
Cash flows from financing activities
Principal paid on lease liabilities (25) 0
Interest paid on lease liabilities (7) 0
Net proceeds from private placement 0 4,570
Net cash (used in) / generated from financing activities (32) 4,570
Change in cash and cash equivalents (2,256) 3,697
Effect of exchange rates on cash & cash equivalents 257 (189)
Cash and cash equivalents at beginning of period 6,823 7,992
Cash and cash equivalents at end of period 4,824 11,500
All dollar amounts in this document are in United States dollars “$”,
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.
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.sedarplus.ca.
Attachment
* 063025.3 FINAL Press release - Announcing release of 30 June 2025
results
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