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Falcon Oil & Gas : Financial Statements 30 September 2022



Falcon Oil & Gas Ltd.

Interim Condensed Consolidated Financial Statements Three and Nine Months Ended 30 September 2022 and 2021

(Presented in U.S. Dollars)

24 November 2022

To the shareholders of Falcon Oil & Gas Ltd.

Notice of No Auditor Review

The accompanying unaudited interim condensed consolidated financial statements as at and for the three and nine months ended 30 September 2022 and 2021, have been prepared by the management of the Company and approved by the Audit Committee.

The Company’s independent auditors have not performed a review of these financial statements.

2

Falcon Oil & Gas Ltd.

Interim Condensed Consolidated Financial Statements (Unaudited)

For the Three and Nine Months Ended 30 September 2022 and 2021

Table of Contents

Page Number

Interim Condensed Consolidated Statement of Operations and Comprehensive Loss

4

Interim Condensed Consolidated Statement of Financial Position

5

Interim Condensed Consolidated Statement of Changes in Equity

6

Interim Condensed Consolidated Statement of Cash Flows

7

Notes to the Interim Condensed Consolidated Financial Statements

8

Falcon Oil & Gas Ltd.

Interim Condensed Consolidated Statement of Operations and Comprehensive Loss (Unaudited)

Three monthsThree months Nine months Nine months

ended 30

ended 30

ended 30

ended 30

September

September

September

September

2022

2021

2022

2021

Notes

$’000

$’000

$’000

$’000

Revenue

Oil and natural gas revenue

2

2

Expenses

Exploration and evaluation expenses

(29)

(46)

(106)

(128)

General and administrative expenses

12

(542)

(665)

(2,226)

(2,327)

Foreign exchange loss

(116)

(60)

(290)

(178)

(687)

(771)

(2,622)

(2,633)

Results from operating activities

(687)

(771)

(2,622)

(2,631)

Finance income

4

10

15

3

Finance expense

4

(145)

(71)

(288)

(197)

Net finance expense

(135)

(71)

(273)

(194)

Loss and comprehensive loss for the

(822)

(842)

(2,895)

(2,825)

period

Loss and comprehensive loss attributable to:

Equity holders of the company

(822)

(841)

(2,894)

(2,823)

Non-controlling interests

(1)

(1)

(2)

Loss and comprehensive loss for the

period

(822)

(842)

(2,895)

(2,825)

Loss per share attributable to equity holders of the company:

Basic and diluted

5

(0.001 cent) (0.001 cent) (0.003 cent) (0.003 cent)

The notes are an integral part of these interim condensed consolidated financial statements.

Falcon Oil & Gas Ltd.

Interim Condensed Consolidated Statement of Financial Position (Unaudited)

At 30 September

At 31 December

2022

2021

Notes

$’000

$’000

Assets

Non-current assets

Exploration and evaluation assets

6

40,270

40,197

Property, plant and equipment

9

13

Trade and other receivables

19

22

Restricted cash

7

1,920

2,239

42,218

42,471

Current assets

Cash and cash equivalents

8

16,905

8,894

Trade and other receivables

97

74

17,002

8,968

Total assets

59,220

51,439

Equity and liabilities

Equity attributable to owners of the parent

Share capital

18

402,120

392,170

Contributed surplus

46,884

46,254

Retained deficit

(402,760)

(399,866)

46,244

38,558

Non-controlling interests

697

698

Total equity

46,941

39,256

Liabilities

Non-current liabilities

Decommissioning provision

13

11,949

11,775

11,949

11,775

Current liabilities

Accounts payable and accrued expenses

14

330

408

330

408

Total liabilities

12,279

12,183

Total equity and liabilities

59,220

51,439

The notes are an integral part of these interim condensed consolidated financial statements.

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Disclaimer

Falcon Oil & Gas Ltd. published this content on 24 November 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 November 2022 07:03:08 UTC.

Publicnow 2022

All news about FALCON OIL & GAS LTD.

Sales 2021 0,00 M

Net income 2021 -4,69 M

Net cash 2021 8,89 M

P/E ratio 2021 -26,8x
Yield 2021
Capitalization 74,4 M
74,4 M
EV / Sales 2020 20 147x
EV / Sales 2021 45 252x
Nbr of Employees 4
Free-Float 80,6%

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