REG-Falcon Oil & Gas Ltd. - Full Year Results
29/04/2026 07:00
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FALCON OIL & GAS LTD.
(“Falcon”)
Full Year Results
29 April 2026 - Falcon Oil & Gas Ltd. (TSXV: FO, AIM: FOG) is pleased to
announce its financial results for the year ended 31 December 2025.
The following should be read in conjunction with the complete audited
financial statements and the accompanying Management’s Discussion and
Analysis (‘’MD&A’’) for the year ended 31 December 2025.
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 second quarter of 2026.
* Cash of $1.3 million at 31 December 2025 (31 December 2024: $6.8 million).
* Continued focus on strict cost management and efficient operation of the
portfolio.
Filing of Financial Statements, MD&A, AIF and Reserves Data
Falcon has filed its audited financial statements for the year ended 31
December 2025, the accompanying MD&A for year ended 31 December 2025 dated 28
April 2026, its Annual Information Form (“AIF”) dated 28 April 2026 and
the Statement of Reserves Data and Other Oil and Gas Information (National
Instrument 51-101, Forms 51-101F1, 51-101F2 and 51-101F3) with the relevant
provincial securities regulators. These filings are available for review on
the Canadian System for Electronic Document Analysis and Retrieval
(“SEDAR+”) at www.sedarplus.ca. The audited financial statements, MD&A and
AIF are also available on Falcon’s website www.falconoilandgas.com.
Ends.
CONTACT DETAILS:
Falcon Oil & Gas Ltd. +353 1 676 8702
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.
Consolidated Statement of Operations and Comprehensive Loss
Year Ended 31 December 2025 $’000 Year Ended 31 December 2024 $’000
Revenue
Oil and natural gas revenue - -
- -
Other income
Other income 63 -
Expenses
Exploration and evaluation expenses (187) (196)
General and administrative expenses (2,351) (2,031)
Decommissioning provision 26 -
Foreign exchange gain 151 256
(2,361) (1,971)
Results from operating activities (2,298) (1,971)
Finance income 302 42
Finance expense (573) (1,036)
Net finance expense (271) (994)
Loss before tax (2,569) (2,965)
Taxation (27) -
Loss and comprehensive loss for the year (2,596) (2,965)
Loss and comprehensive loss attributable to:
Equity holders of the company (2,587) (2,958)
Non-controlling interests (9) (7)
Loss and comprehensive loss for the year (2,596) (2,965)
Loss per share attributable to equity holders of the company:
Basic and diluted ($0.002) ($0.003)
Falcon Oil & Gas Ltd.
Consolidated Statement of Financial Position
At 31 December 2025 $’000 At 31 December 2024 $’000
Assets
Non-current assets
Exploration and evaluation assets 56,797 50,291
Right of use assets 4 -
Decommissioning deposits 2,798 56
Restricted cash 35 2,040
59,634 52,387
Current assets
Cash and cash equivalents 1,282 6,823
Accounts receivable 173 3,031
1,455 9,854
Total assets 61,089 62,241
Equity and liabilities
Equity attributable to owners of the parent
Share capital 406,684 406,684
Contributed surplus 47,446 47,446
Deficit (412,742) (410,155)
41,388 43,975
Non-controlling interests 681 690
Total equity 42,069 44,665
Liabilities
Non-current liabilities
Decommissioning provision 17,261 16,587
17,261 16,587
Current liabilities
Accounts payable and accrued expenses 1,753 989
Lease liability 6 -
1,759 989
Total liabilities 19,020 17,576
Total equity and liabilities 61,089 62,241
Falcon Oil & Gas Ltd.
Consolidated Statement of Cash Flows
Year Ended 31 December
2025 $’000 2024 $’000
Cash flows from operating activities
Net loss for the year (2,596) (2,965)
Adjustments for:
Share based compensation - 67
Depreciation - 2
Amortisation of right of use assets 35 -
Proceeds from sale of fixed assets (63) -
Net finance loss 273 994
Foreign exchange gain (151) (256)
Decommissioning provision (26) -
Change in non-cash working capital
Increase in accounts receivable (50) (16)
Increase in accounts payable 175 66
Net cash used in operating activities (2,403) (2,108)
Cash flows from investing activities
Interest received 24 42
Decommissioning provision deposits (2,651) -
Repayment of restricted cash - decommissioning provision 2,265 -
Legacy exploration permit bonds refunded 19
R&D tax incentive refunded 2,962 -
Proceeds from sale of fixed assets 63 -
Exploration and evaluation assets additions (6,075) (7,110)
Granting of ORRIs - 4,000
Net cash used in investing activities (3,393) (3,068)
Cash flows from financing activities
Principal paid on lease liabilities (20) -
Interest paid on lease liabilities (3) -
Proceeds from equity raise - 4,564
Net cash generated from financing activities (23) 4,564
Change in cash and cash equivalents (5,819) (612)
Effect of exchange rates on cash & cash equivalents 278 (557)
Cash and cash equivalents at beginning of year 6,823 7,992
Cash and cash equivalents at end of year 1,282 6,823
All dollar amounts in this document are in United States dollars “$”,
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. Falcon Oil & Gas Ltd is incorporated
in British Columbia, 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
* 123125.3 Final Press release - Announcing release of 31 December 2025
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