Falcon Oil & Gas Ltd.

Falcon Oil & Gas Ltd.

Philip O’Quigley, CEO

+353 87 814 7042

Anne Flynn, CFO

+353 1 676 9162

Neil McDonald

+44 131 220 9771

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)

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

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