Falcon Oil & Gas highlights debt free status and continued focus on cost management as losses narrow
In its results for the three months to September 30, the company reported a loss of US$146,000 compared to a US$764,000 loss a year ago
Company
Falcon Oil & Gas Ltd
LON:FOG
Falcon Oil & Gas Ltd. (“Falcon” or “Company”) is an international oil and gas company engaged in the acquisition, exploration and development of unconventional oil and gas assets. The Company’s principal interests are located in two major underexplored basins in Australia and South Africa; with further interests in Hungary, covering approximately 12.3 million gross acres. The Company’s interests are in countries with a high regional demand for energy and for Australia and Hungary are close to existing infrastructure allowing for rapid delivery of oil and gas to market.
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Falcon Oil & Gas still has lots of potential at Beetaloo say brokers
“Based on all the other technical information gathered to date, we remain optimistic on the potential of Kyalla liquids-rich gas play,”
Falcon Oil & Gas and Origin mull additional measures for Kyalla well
"We remain optimistic about the potential outcome of the production test,” said chief executive Philip O’Quigley
Falcon Oil & Gas says flow back operations continue
Operations resumed in September for the Beetaloo project well in Australia's Northern Territory
Falcon Oil & Gas looks forward to Kyalla production test
Preparations are now underway to ring the well into an extended production test.
Falcon Oil & Gas resumes operations for the Kyalla well at the Beetaloo project in Australia
A production test will take place before the end of the year, with results expected in the first quarter of 2021.
Falcon Oil & Gas interim results confirm strong financial position
Falcon is looking forward to the restart of operations on the Kyalla 117 well in Australia's Northern Territory.
Falcon Oil & Gas looks forward to start of fracking in Kyalla 117 well in Australia
Fracking is slated for 'Q3/Q4' followed by a production test in Q4 and results in Q1 2021
Falcon Oil & Gas quarterly report reaffirms strong financial position
The Australia shale explorer is debt-free, has US$11.5mln of cash and most of its project costs will be covered by partner Origin Energy
Cenkos hails Falcon Oil & Gas’s unique position on AIM, price target implies +500% upside
The house broker repeated a 'buy' recommendation for the Australian shale explorer.
Falcon Oil & Gas results confirm strong financial position
The company's position was recently bolstered by a new farm-out deal
Falcon Oil & Gas’s “fantastic” deal has eliminated funding risks - Cenkos
Origin is committing to keep spending on Beetaloo and, via farm-out, Falcon's funding is covered.
Falcon Oil & Gas agrees extra A$150mln farm-out at Beetaloo shale project
The AIM-quoted explorer secures significant additional third-party spending commitments in return for 7.5% of the asset, whilst retaining 22.5%
Falcon Oil & Gas pauses Australian shale well operations due to coronavirus
Fracking of the horizontal Kyalla shale well will now be expected in the "latter part" of 2020
Falcon Oil & Gas delighted as Kyalla well’s horizontal drilling is successfully completed
More than 1,500 metres of lateral drilling was completed in the Kyalla shale formation
Falcon Oil & Gas kicks off new sidetrack horizontal drill in Kyalla well
“Drilling results to date have been encouraging, and Falcon remains very optimistic about the potential of the Lower Kyalla shale play,” said chief executive Philip O’Quigley.
Falcon Oil & Gas says Kyalla well will be sidetracked to overcome drilling challenges
“Whilst it is unfortunate to have encountered these operational difficulties, which will add to the time and cost to drill the horizontal section, the JV remains as optimistic about the potential of Kyalla," chief executive Philip O'Quigley
Falcon Oil & Gas says horizontal drilling has started in Kyalla shale well
“Ongoing evaluation of the of the Kyalla 117 N2-1 vertical appraisal well is very encouraging,” said Philip O’Quigley, Falcon chief executive
Falcon Oil & Gas confirms strong financial position
Attentions are on the Kyalla well in the Beetaloo basin where the vertical section was recently completed.
Falcon Oil & Gas successfully completes vertical section of Beetaloo
Chief executive Philip O'Quigley said it represents an excellent re-start to the Beetaloo project.