Proactive Investors - Run By Investors For Investors

Falcon Oil & Gas highlights healthy cash pile in third quarter update

The business has shale interests in Australia at Beetaloo and in South Africa’s Karoo Basin
oil well
Falcon has interests in Australia and South Africa

Canada-based and London-listed Falcon Oil & Gas Ltd (LON:FOG CVE:FO) closed its third quarter with cash of US$7.5mln and no debt.

The business has shale interests in Australia at Beetaloo and in South Africa’s Karoo Basin.

READ: Falcon Oil & Gas and Origin Energy agree to cancel Beetaloo royalty

In a very short statement that accompanied the third quarter update, the junior said its focus was on strict cost management and efficient operation of the portfolio.

Operating losses in the three months to September were cut to US$501,000 from US$651,000.

Falcon is not yet generating any revenues.

View full FOG profile View Profile

Falcon Oil & Gas Ltd Timeline

Related Articles

oil rig
February 06 2019
Zubair Corporation will pay US$5mln, paid in two tranches, to develop Ntorya
High Peak chairman Andy Carroll at a CEO Session
November 22 2018
High Peak claims royalties from oil and gas endeavours on Australian and US landholdings.
oil and gas operations
November 12 2018
The second well at Verbier has the potential to significantly upgrade the size and commercial potential of the presently undeveloped oil field

© 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