REG-Falcon Oil & Gas Ltd. - Filing of Interim Financial Statements
27/11/2025 07:00
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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
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