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Falcon Oil & Gas highlights strong financial position as it awaits Australia fracking verdict

Published: 07:53 24 Nov 2017 GMT

oil well drilling
It is debt free and had US$9.4mln of cash

Falcon Oil & Gas Ltd (LON:FOG) has told investors it ended the three months to September 30 with a strong financial position – it is debt free and had US$9.4mln of cash.

As the AIM-quoted shale group continues to await the outcome of a government commissioned review into fracking in Australia’s Northern Territory the company continues to adopt strict cost management.

READ: Falcon Oil & Gas expects draft Northern Territory report by mid-December

Amid the operational hiatus, Falcon’s general and admin expenses decreased by 6% quarter on quarter to US$1.48mln.

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