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.