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FALCON OIL & GAS LTD.
(“Falcon” or the “Company” or the “Group”)
Full Year Results
12 April 2018 – Falcon Oil & Gas Ltd. (TSXV: FO, AIM: FOG, ESM: FAC) is pleased to announce its financial results for the year ended 31 December 2017.
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 three and twelve months ended 31 December 2017.
2017 Highlights:
Financial
- Strong financial position, debt free with cash of US$9 million at 31 December 2017.
- Continued focus on strict cost management and efficient operation of the portfolio.
- General & administrative expenses decreased 3% year on year to US$1.98 million.
Operational
- Falcon awaits the Northern Territory Government’s decision on the current moratorium following the publication of the Final Report by the scientific inquiry into hydraulic fracturing on 27 March 2018.
Filing of Financial statements, MD&A, AIF and Reserves data
Falcon has filed its audited financial statements for the year ended 31 December 2017, the accompanying MD&A for year ended 31 December 2017 dated 11 April 2018, its Annual Information Form (“AIF”) dated 11 April 2018 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.sedar.com. The audited financial statements, MD&A and AIF are also available on Falcon’s website www.falconoilandgas.com .
Change of Registered Address
The registered address of Falcon has changed to the following:
Falcon Oil & Gas Ltd.
1200 Waterfront Centre,
200 Burrard Street,
Vancouver BC V7X 1T2,
Canada.
About Falcon Oil & Gas Ltd.
Falcon Oil & Gas Ltd is an international oil & gas company engaged in the acquisition, exploration and development of conventional and 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 with a technical team based in Budapest, Hungary.
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. Such information may include, but is not limited to comments made with respect to the awarding of an exploration license in South Africa, to the type, number, schedule, testing and objectives of the wells to be drilled in the Beetaloo basin Australia, expected contributions of the partners, the prospectivity of the Middle Velkerri shale play and the prospect of the exploration programme being brought to commerciality. 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.sedar.com.
