Filing of Interim Financial Statements

Falcon Oil & Gas

27/11/2025 07:00

FALCON OIL & GAS LTD.

(“Falcon” or “Company”)

Filing of Interim Financial Statements

27 November 2025 - Falcon Oil & Gas Ltd. (TSXV: FO, AIM: FOG) announces that it has filed its interim financial statements for the three and nine months ended 30 September 2025 and the accompanying Management’s Discussion and Analysis (“MD&A”).

The following should be read in conjunction with the complete unaudited unreviewed interim financial statements and the accompanying MD&A for the three and nine months ended 30 September 2025, which are available on the Canadian System for Electronic Document Analysis and Retrieval (“SEDAR+”) at www.sedarplus.ca and on Falcon’s website at www.falconoilandgas.com

2025 financial highlights and other financial updates

The definitive agreement entered into between Falcon and Tamboran Resources Corporation (NYSE: TBN, ASX: TBN) is progressing and is expected to close in the first quarter of 2026.

Cash of $2 million at 30 September 2025 (31 December 2024: $6.8 million).

Continued focus on cost management and the efficient operation of the portfolio.

Ends.

CONTACT DETAILS:

Falcon Oil & Gas Ltd. 
Philip O'Quigley, CEO
+353 87 814 7042
Anne Flynn, CFO
+353 1 676 9162

 

Cavendish Capital Markets Limited (NOMAD & Broker)

Neil McDonald
+44 131 220 9771

Falcon Oil & Gas Ltd.
Interim Condensed Consolidated Statement of Operations and Comprehensive Loss
(Unaudited)

Three months ended 30 
September 2025
$’000
Three months ended 30 
September 2024
$’000
Nine months ended 30 
September 2025
$’000
Nine months ended 30 
September 2024
$’000
Revenue
Oil and natural gas revenue
-
-
-
-
-
-
-
-
Other income
Other income
-
-
63
-
-
-
63
-
Expenses
Exploration and evaluation expenses
(51)
(44)
(136)
(130)
General and administrative expenses
(666)
(523)
(1,669)
(1,601)
Foreign exchange gain
34
91
207
133
(683)
(476)
(1,598)
(1,598)
Results from operating activities
(683) 
(476)
(1,535) 
(1,598)
Finance income
10
365
280
193
Finance expense
(142)
(132)
(432)
(393)
Net finance (expense) / income
(132)
233
(152)
(200)
Loss and comprehensive loss for the period
(815)
(243)
(1,687)
(1,798)
Loss and comprehensive loss attributable to:
Equity holders of the company
(813)
(247)
(1,684)
(1,798)
Non-controlling interests
(2)
4
(3)
-
Loss and comprehensive loss for the period
(815)
(243)
(1,687)
(1,798)
Loss per share attributable to equity holders
of the company:
Basic and diluted
(0.001 cent)
(0.000 cent)
(0.002 cent)
(0.002 cent)

 

Falcon Oil & Gas Ltd.
Interim Condensed Consolidated Statement of Financial Position
(Unaudited)

At 30 September
2025
$’000
At 31 December 
2024
$’000
Assets
Non-current assets
Exploration and evaluation assets
56,178
50,291
Right of use assets
8
-
Accounts receivable
2,741
56
Restricted cash
35
2,040
58,962
52,387
Current assets
Cash and cash equivalents
1,973
6,823
Accounts receivables
99
3,031
2,072
9,854
Total assets
61,034
62,241
Equity and liabilities
Equity attributable to owners of the parent
Share capital
406,684
406,684
Contributed surplus
47,446
47,446
Retained deficit
(411,839)
(410,155)
42,291
43,975
Non-controlling interests
687
690
Total equity
42,978
44,665
Liabilities 
Non-current liabilities
Decommissioning provision
17,151
16,587
17,151
16,587
Current liabilities
Accounts payable and accrued expenses
894
989
Lease liabilities
11
-
905
989
Total liabilities
18,056
17,576
Total equity and liabilities
61,034
62,241

 

Falcon Oil & Gas Ltd.
Interim Condensed Consolidated Statement of Cash Flows
(Unaudited)

Nine months ended 30 September
2025
$’000
2024 
$’000
Cash flows from operating activities
Net loss for the period
(1,687)
(1,798)
Adjustments for:
Share based compensation
-
65
Depreciation
-
2
Amortisation of right of use assets
31
-
Proceeds from sale of fixed assets
(63)
-
Net finance expense
152
200
Effect of exchange rates on operating activities
(203)
(133)
Change in non-cash working capital:
Increase in accounts receivable
(71)
(893)
Increase in accounts payable and accrued expenses
143
920
Net cash used in operating activities
(1,698)
(1,637)
Cash flows from investing activities
Interest received
20
31
Legacy exploration permit bonds refunded
19
-
R&D tax incentive refunded
2,962
-
Proceeds from sale of ORRIs
-
4,000
Proceeds from sale of fixed assets
63
-
Repayment of restricted cash – Hungarian decommissioning obligations
2,265
-
Deposit paid re. Hungarian decommissioning obligations
(2,300)
-
Deposit paid re. Australian decommissioning obligations
(333)
-
Exploration and evaluation assets
(6,070)
(5,153)
Net cash used in investing activities
(3,374)
(1,122)
Cash flows from financing activities
Principal paid on lease liabilities
(31)
-
Interest paid on lease liabilities
(7)
-
Net proceeds from private placement
-
4,570
Net cash generated from financing activities
(38)
4,570
Change in cash and cash equivalents
(5,110)
1,811
Effect of exchange rates on cash and cash equivalents
260
162
Cash and cash equivalents at beginning of period
6,823
7,992
Cash and cash equivalents at end of period
1,973
9,965

All dollar amounts in this document are in United States dollars “$”, except as otherwise indicated.

About Falcon Oil & Gas Ltd.

Falcon Oil & Gas Ltd is an international oil & gas company engaged in the exploration and development of unconventional oil and gas assets, with the current portfolio focused in Australia, South Africa and Hungary. Falcon Oil & Gas Ltd is incorporated in British Columbia, Canada with a registered office at 1200 Waterfront Centre, 200 Burrard Street, Vancouver BC, V7X 1T2, Canada and headquartered in Dublin, Ireland.

For further information on Falcon Oil & Gas Ltd. please visit www.falconoilandgas.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Certain information in this press release may constitute forward-looking information. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. Falcon assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to Falcon. Additional information identifying risks and uncertainties is contained in Falcon’s filings with the Canadian securities regulators, which filings are available at www.sedarplus.ca

Attachment

093025.3 Final Press release - Announcing release of 30 September 2025 results