Falcon Oil & Gas Ltd. Reports Strong Financial Performance

Falcon Oil & Gas Ltd. Financial Performance Overview

FALCON OIL & GAS LTD.

Full Year Results

As the year comes to an end, Falcon Oil & Gas Ltd. (TSXV: FO, AIM: FOG) proudly announces its impressive financial results for the year concluded on December 31, 2024. These figures reflect the company’s unwavering commitment to operational excellence and financial stability.

Key Financial Highlights for 2024

The financial performance of Falcon Oil & Gas reveals a robust and sustainable future. Some key highlights are as follows:

• Debt-free status with cash reserves amounting to $6.8 million as of December 31, 2024, slightly down from $8 million in 2023.
• The company maintains a strong emphasis on effective cost management while operating efficiently within its portfolio.

Completion of Financial Documents

Falcon Oil & Gas Ltd. has successfully submitted its comprehensive audited financial statements for the period ending December 31, 2024. Accompanying these are the Management’s Discussion and Analysis (MD&A) document, the Annual Information Form (AIF), and the Statement of Reserves Data and Other Oil and Gas Information with the relevant securities regulators. Stakeholders and interested parties can easily access these filings via the SEDAR+ platform.

Insights into Financial Statements

As part of the financial statement release, Falcon showcases a thorough Consolidated Statement of Operations. It reflects the ongoing drive towards fiscal prudence. The operating loss before tax stood at $(2,965) thousand, demonstrating the overall management of expenses, which totaled $(1,971) thousand during the reporting period. A notable focus was also placed on exploration and evaluation expenses, maintained at $(196) thousand.

Cash Flow Activities

In regards to cash flow, Falcon experienced net cash used in operating activities totaling $(2,108) thousand, reflecting the costs associated with maintaining operational integrity and the demand for further investment in exploration activities. In investing activities, the company reported a significant cash outflow associated with exploration and evaluation assets, totaling $(7,110) thousand.

Growth in Equity

Despite facing challenges, Falcon Oil & Gas increased its equity attributable to owners of the parent company, reaching $43,975 thousand at the end of the year. This reflects the ongoing support from stakeholders and a growing trust in the company’s strategies.

Overview of Falcon Oil & Gas Ltd.

Falcon Oil & Gas is an international oil and gas company dedicated to the exploration and development of unconventional oil and gas assets, primarily focused in Australia. Registered in British Columbia, Canada, with its headquarters in Dublin, Ireland, Falcon continues its quest to add value to its portfolio while navigating the fluctuating market conditions.

For more information about Falcon Oil & Gas Ltd., one can visit their official website at www.falconoilandgas.com.

CONTACT DETAILS:

Falcon Oil & Gas Ltd.
Phone: +353 1 676 8702

CEO, Philip O'Quigley
Phone: +353 87 814 7042

CFO, Anne Flynn
Phone: +353 1 676 9162

Frequently Asked Questions

What are the financial highlights of Falcon Oil & Gas Ltd. for 2024?

Falcon Oil & Gas reported a cash reserve of $6.8 million and maintained a debt-free status.

Where can investors find Falcon's financial statements?

Investors can access Falcon's financial statements on the SEDAR+ platform.

Has Falcon Oil & Gas Ltd. issued any earnings reports?

Yes, Falcon has released its annual audited financial results and accompanying management discussions.

What areas does Falcon Oil & Gas Ltd. focus its operations on?

The company primarily focuses on unconventional oil and gas assets within Australia.

Who can I contact for more information about Falcon Oil & Gas?

For inquiries, you can contact Falcon Oil & Gas Ltd. directly through the provided contact details.

About The Author

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