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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
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Income Statement Evolution
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