Proactive Investors - Run By Investors For Investors

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

Review into proposals to frack vast shale resources in the Beetaloo basin is presently underway, in the meantime Falcon said it has adopted strict cost management.
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.

View full FOG profile View Profile

Falcon Oil & Gas Ltd Timeline

Related Articles

April 08 2019
The South Disouq project has been pushed back towards the end of 2019
February 15 2019
ExxonMobil has made ten discoveries on the neighbouring Stabroek Block with an estimated 5bn barrels of oil
oil rig
February 27 2019
Gross production might hit 45,000 barrels per day by end 2019

© Proactive Investors 2019

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use