FALCON OIL & GAS LTD.
(“Falcon”)
Filing of Interim Financial Statements
29 August 2025 – Falcon Oil & Gas Ltd. (TSXV: FO, AIM: FOG) announces that it has filed its Interim Financial Statements for the three and six months ended 30 June 2025 and 2024 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 six months ended 30 June 2025, which are available on the Canadian System for Electronic Document Analysis and Retrieval (“SEDAR+”) at https://www.sedarplus.ca and on Falcon’s website at www.falconoilandgas.com.
H1 2025 financial highlights and other financial updates
Cash of $4.8 million at 30 June 2025 (31 December 2024: $6.8 million).Continued focus on cost management and the efficient operation of the portfolio.
Ends.
For further information, please contact:
CONTACT DETAILS:
Falcon Oil & Gas Ltd. +353 1 676 8702Philip O’Quigley, CEO+353 87 814 7042Anne Flynn, CFO+353 1 676 9162 Cavendish Capital Markets Limited (NOMAD & Broker)Neil McDonald / Adam Rae+44 131 220 9771
Falcon Oil & Gas Ltd.
Interim Condensed Consolidated Statement of Operations and Comprehensive Loss
(Unaudited)
Three months ended 30
June 2025
$’000Three months ended 30
June 2024
$’000Six months ended 30
June 2025
$’000Six months ended 30
June 2024
$’000 Revenue Oil and natural gas revenue–––– –––– Other income Other income63–63– 63–63– Expenses Exploration and evaluation expenses(45)(42)(85)(86)General and administrative expenses(512)(550)(1,003)(1,078)Foreign exchange gain / (loss)96(78)17242 (461)(670)(916)(1,122) Results from operating activities(398)(670)(853)(1,122) Finance income1721027118Finance expense(149)(89)(290)(451)Net finance income / (expense)23(79)(19)(433) Loss and comprehensive loss for the period(375)(749)(872)(1,555) Loss and comprehensive loss attributable to: Equity holders of the company(374)(747)(871)(1,551)Non-controlling interests(1)(2)(1)(4) Loss and comprehensive loss for the period (375)(749)(872)(1,555) Loss per share attributable to equity holders of the company: Basic and diluted(0.000 cent)(0.001 cent)(0.001 cent)(0.001 cent)
Falcon Oil & Gas Ltd.
Interim Condensed Consolidated Statement of Financial Position
(Unaudited)
At 30 June
2025
$’000At 31 December
2024
$’000 Assets Non-current assets Exploration and evaluation assets 55,00450,291Right of use assets 120Accounts receivable 43556Restricted cash 2,3022,040 57,75352,387 Current assets Cash and cash equivalents 4,8246,823Accounts receivable 1153,031 4,9399,854 Total assets 62,69262,241 Equity and liabilities Equity attributable to owners of the parent Share capital 406,684406,684Contributed surplus 47,44647,446Retained deficit (411,026)(410,155) 43,10443,975Non-controlling interests 689690Total equity 43,79344,665 Liabilities Non-current liabilities Decommissioning provision 16,99516,587 16,99516,587 Current liabilities Accounts payable and accrued expenses 1,888989Lease liabilities 160 1,904989 Total liabilities 18,89917,576 Total equity and liabilities 62,69262,241
Falcon Oil & Gas Ltd.
Interim Condensed Consolidated Statement of Cash Flows
(Unaudited)
Six months ended 30 June 2025
$’0002024
$’000 Cash flows from operating activities Net loss for the period (872)(1,555)Adjustments for: Share based compensation 062Depreciation 02Amortisation of right of use assets 260Proceeds from sale of fixed asset (63)0Net finance expense 19433Effect of exchange rates on operating activities (171)(42)Change in non-cash working capital: Increase in accounts receivables (87)(48)(Decrease) / increase in accounts payable and accrued expenses (41)12Net cash used in operating activities (1,189)(1,136) Cash flows from investing activities Interest received 1418Legacy exploration permit bonds refunded 190R&D tax incentive refunded 2,9620Proceeds from sale of fixed assets 630Proceeds from sale of ORRI’s 04,000Exploration and evaluation assets (4,093)(3,755)Net cash (used in) / generated from investing activities (1,035)263
Cash flows from financing activities Principal paid on lease liabilities (25)0Interest paid on lease liabilities (7)0Net proceeds from private placement 04,570Net cash (used in) / generated from financing activities
(32)4,570Change in cash and cash equivalents (2,256)3,697Effect of exchange rates on cash & cash equivalents 257(189)Cash and cash equivalents at beginning of period 6,8237,992 Cash and cash equivalents at end of period 4,82411,500
All dollar amounts in this document are in United States dollars “$”, 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 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
063025.3 FINAL Press release – Announcing release of 30 June 2025 results
