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Wed, 23rd Jul 2014 09:01
Falcon Oil & Gas Ltd - Australia, Hungary and South Africa-focused oil and gas company - Reports a pretax loss of USD3.3 million for 2023, narrowed from USD4.0 million a year prior. Generates no revenue in the year, unchanged from 2022. Losses per share were 0.3 cents, narrowed from 0.4 cents per share. As at December 31, company has USD8.0 million in cash, more than halved from USD16.8 million at the end of 2022.
Read more(Alliance News) - The following is a round-up of updates by London-listed companies, issued this week and not separately reported by Alliance News:
Read more(Alliance News) - Falcon Oil & Gas Ltd shares fell on Monday, as the company said it will reduce its working interest in the proposed Shenandoah South pilot project.
Read more(Sharecast News) - Falcon Oil & Gas announced significant achievements at the Shenandoah South 1H (SS-1H) well in EP117 on Monday, surpassing pre-drill expectations.
Read moreFalcon Oil & Gas Ltd - Australia, Hungary and South Africa-focused oil and gas company - Says the SS-1H well in EP117, in the Beetaloo sub-basin in the Northern Territory, Australia achieved an average 30-day initial production flow rate of 3.2 million standard cubic feet per day. Adds that results from the well significantly exceeded pre-drill expectations. Also notes that at the end of January, cash held was USD5 million. Chief Executive Officer Philip O'Quigley says: "We can now look forward with confidence to commencing the proposed 40 MMcf/d pilot development project which will start with the drilling of the first of six 10,000 [foot] development wells in Q2 2024, subject to stakeholder approval and funding, and look forward to updating the market as those plans begin to materialise."
Read moreFalcon Oil & Gas Ltd - Australia, Hungary and South Africa-focused oil and gas company - On Monday, announces the start of the 30-day initial production testing at the Shenandoah South 1H well in EP117, operated by Falcon Oil & Gas Australia Ltd's joint venture partner, Tamboran B2 Pty Ltd. Explains for normal operational reasons, the SS1H well was shut-in for a three week soak period and was successfully re-opened on January 25. The aim of soaking was to allow for sufficient stimulation fluid to be absorbed by the shale, increasing the relative permeability to gas of the formation and enhancing future production performance. The IP30 test has now commenced, and results are expected by the end of February.
Read more(Sharecast News) - Falcon Oil announced the start of the 30-day initial production (IP30) testing at the Shenandoah South 1H (SS1H) well in EP117 on Monday.
Read moreFalcon Oil & Gas Ltd - Australia, Hungary and South Africa-focused oil and gas company - Announces "successful completion" of 10-stage stimulation programme over a 500-metre horizontal section of the Amungee Member B-Shale within the Shenandoah South 1H well in EP117. Says programme delivered proppant intensity of 2,212 pounds per foot and rates of 100 barrels of oil per minute. EP117 is one Falcon's three exploration permits in Australia's Beetaloo sub-basin. 30-day initial production testing will commence in mid-December.
Read more(Sharecast News) - Falcon Oil has completed a ten-stage stimulation programme on a 500-metre horizontal section of the Amungee Member B-Shale within the Shenandoah South 1H (SS1H) well, it announced on Thursday, located in the EP117 licence.
Read more(Sharecast News) - Falcon Oil & Gas has officially initiated stimulation activities at the Shenandoah South 1H well, it announced on Monday.
Read more(Alliance News) - The following is a round-up of earnings and trading updates by London-listed companies, issued on Monday and not separately reported by Alliance News:
Read more(Alliance News) - Falcon Oil & Gas Ltd - Australia, Hungary and South Africa-focused oil and gas company - Says its loss for the third quarter of 2023 was USD1.0 million, widening from USD822,0000 the year prior. In the first nine months of the year, the firm's loss narrowed to USD2.5 million, from USD2.9 million previously. Does not record any revenue for the period, unchanged from a year ago. Says it will continue to focus on cost management and improving the efficiency of its operations.
Read moreFalcon Oil & Gas Ltd - Australia, Hungary and South Africa-focused oil and gas company - Announces successful completion of drilling on the Amungee NW 3H well in Exploration Permit 98 in the Beetaloo Sub-Basin, in Australia's Northern Territory. Work was completed with Falcon Oil & Gas Australia Ltd's joint venture partner Tamboran (B2) Pty Ltd. Falcon says drilling took 17.9 days at an average 214 metres per day, 20 days faster than Amungee 2H drilling. Total cost for A3H drilling and cementing was AUD12.6 million, AUD1.8 million less than work on A2H. Falcon is planning a stimulation programme for the second quarter of 2024, following the Northern Territory's wet season. Also says stimulation activities for the Shenandoah South 1H well in EP117 are on track to start in November, with IP30 flow rates expected in early 2024.
Read more(Sharecast News) - Falcon Oil & Gas has started drilling the Amungee NW-3H (A3H) horizontal well in exploration permit 98 in the Beetaloo Sub-basin, located in Australia's Northern Territory, it announced on Monday.
Read moreFalcon Oil & Gas Ltd - Australia, Hungary and South Africa-focused oil and gas company - Reports successful drilling of Shenandoah South 1H well, completed with Falcon Oil & Gas Australia Ltd's joint venture partner Tamboran B2 Pty Ltd. Well is drilled to total measured depth of 4,300 metres. Falcon Oil Chief Executive Officer Philip O'Quigley says: "We are delighted to have successfully completed the SS1H horizontal well section and we now look forward to the next phase of operations with the stimulation and extended production testing of the well. We will continue to update the market as results become available."
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