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Falcon Oil & Gas Ltd. - Assignment of Canadian Working Interests

22 Feb 2021 07:00

Falcon Oil & Gas Ltd. - Assignment of Canadian Working Interests

Falcon Oil & Gas Ltd.

(“Falcon”)

Assignment of Canadian Working Interests

22 February 2021 - Falcon Oil & Gas Ltd. (TSXV: FO, AIM: FOG) has agreed to assign its working interest in three gross producing wells and one gross shut-in well and associated infrastructure in Alberta, Canada to a large Canadian-based company.

These wells have been loss making and have generated minimal revenues to Falcon over the last number of years. Collective revenues for nine months to September 2020 were US$3,000 and the associated costs for the same period were US$6,000. For the 12 months to December 2019 there were revenues of US$5,000 and costs of US$10,000.

Under the terms of the assignment, Falcon has agreed to pay a total of CAD$37,000 to cover its net working interest share of the abandonment and reclamation obligations of the wells and associated infrastructure.

Ends.

CONTACT DETAILS:

Falcon Oil & Gas Ltd. +353 1 676 8702
Philip O'Quigley, CEO+353 87 814 7042
Anne Flynn, CFO+353 1 676 9162
 
Cenkos Securities plc (NOMAD & Broker) 
Neil McDonald / Derrick Lee+44 131 220 9771

About Falcon Oil & Gas Ltd.Falcon Oil & Gas Ltd is an international oil & gas company engaged in the exploration and development of unconventional oil and gas assets, with the current portfolio focused in Australia, South Africa and Hungary. Falcon Oil & Gas Ltd is incorporated in British Columbia, Canada and headquartered in Dublin, Ireland with a technical team based in Budapest, Hungary.

For further information on Falcon Oil & Gas Ltd. please visit www.falconoilandgas.com

Glossary of terms

CAD$Canadian dollar
US$United States dollar

Certain information in this press release may constitute forward-looking information. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. Falcon assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to Falcon. Additional information identifying risks and uncertainties is contained in Falcon’s filings with the Canadian securities regulators, which filings are available at www.sedar.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Date   Source Headline
26th Mar 20247:00 amGNWFalcon Oil & Gas Ltd - Shenandoah South - 1H well IP60 Day Flow Rates of 3.0 MMcf/d (normalised to 6.0 MMcf/d)
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19th Feb 20247:03 amGNWFalcon Oil & Gas Ltd. - Beetaloo Update and Investor Q&A
29th Jan 20247:00 amGNWFalcon Oil & Gas Ltd. - Commencement of Initial Production Testing at Shenandoah South 1H
7th Dec 20237:00 amGNWFalcon Oil & Gas Ltd. - Successful Completion of SS1H Stimulation Program
27th Nov 20237:00 amGNWFalcon Oil & Gas Ltd - Beetaloo Operational Update
16th Nov 20237:00 amGNWFalcon Oil & Gas Ltd. - Filing of Interim Financial Statements
30th Oct 20237:01 amGNWFalcon Oil & Gas Ltd. - Beetaloo Operational Update
27th Oct 20237:00 amGNWFalcon Oil & Gas Ltd. - Change of Nominated Adviser
16th Oct 20237:00 amGNWFalcon Oil & Gas Ltd. - Operational Update including the Successful Drilling of Amungee NW 3H Horizontal Well
25th Sep 20237:00 amGNWFalcon Oil & Gas Ltd. - Spudding of Amungee NW-3H in Exploration Permit 98
18th Sep 20237:00 amGNWFalcon Oil & Gas Ltd. - Successful Drilling of Shenandoah South 1H Horizontal Well
30th Aug 20237:00 amGNWFalcon Oil & Gas Ltd. - Operational Update - Shenandoah South 1H
25th Aug 20237:14 amGNWFalcon Oil & Gas Ltd. - Farm-in Carry Commitments.
25th Aug 20237:00 amGNWFalcon Oil & Gas Ltd. - Filing of Interim Financial Statements
1st Aug 20237:00 amGNWFalcon Oil & Gas Ltd. - Spudding of Shenandoah South 1H in Exploration Permit 117
24th Jul 20237:00 amGNWFalcon Oil & Gas Ltd. - Beetaloo Operational Update
30th Jun 20237:00 amGNWFalcon Oil & Gas Ltd. - Director Purchase of Common Shares of Falcon
23rd Jun 20237:00 amGNWFalcon Oil & Gas Ltd – Results of Annual General & Special Shareholders Meeting
22nd Jun 20237:00 amGNWFalcon Oil & Gas Ltd. - Amungee NW-2H Well Update
16th Jun 202310:50 amGNWFalcon Oil & Gas Ltd. - Investor Q&A
15th Jun 20237:00 amGNWFalcon Oil & Gas Ltd. - Holdings in Company
24th May 20237:00 amGNWFalcon Oil & Gas Ltd. - Filing of Interim Financial Statements
24th May 20237:00 amGNWFalcon Oil & Gas Ltd. - Notice of Annual General and Special Shareholder Meeting and Management Information Circular
28th Apr 20237:00 amGNWFalcon Oil & Gas Ltd. - Full Year Results
18th Apr 20237:00 amGNWFalcon Oil & Gas Ltd. - Notice of Annual General and Special Shareholder meeting
22nd Mar 20237:00 amGNWFalcon Oil & Gas Ltd. - Successful Completion of the Amungee NW-2H Well 25-Stage Stimulation Programme
16th Feb 20237:00 amGNWFalcon Oil & Gas Ltd.- Commencement of the Amungee NW-2H Well Stimulation Programme
16th Jan 20237:00 amGNWFalcon Oil & Gas Ltd - Investor Q&A
23rd Dec 20227:00 amGNWFalcon Oil & Gas Ltd. - Operational Update on Amungee NW-2H Drilling
14th Dec 20227:00 amGNWFalcon Oil & Gas Ltd. - Director Purchase of Common Shares of Falcon
12th Dec 20227:00 amGNWFalcon Oil & Gas Ltd. - Director Purchase of Common Shares of Falcon
7th Dec 20227:00 amGNWFalcon Oil & Gas Ltd. - Director Purchase of Common Shares of Falcon
30th Nov 20227:00 amGNWFalcon Oil & Gas Ltd. - Granting of stock options
25th Nov 20227:00 amGNWFalcon Oil & Gas Ltd. - Filing of Interim Financial Statements
10th Nov 20227:00 amGNWFalcon Oil & Gas Ltd. - Spudding of Amungee 2H Development Well in Exploration Permit 98
11th Oct 20227:00 amGNWFalcon Oil & Gas Ltd. - Binding Letter of Intent Executed with New Joint Venture Partner
19th Sep 20226:38 pmGNWFalcon Oil & Gas Ltd. - Origin Energy Announces Divestment of Beetaloo Sub-Basin Interests
25th Aug 20227:00 amGNWFALCON OIL & GAS LTD - Filing of Interim Financial Statements
18th Jul 20227:00 amGNWFalcon Oil & Gas Ltd. - Investor Presentation
15th Jul 20227:00 amGNWFalcon Oil & Gas Ltd. - Results of Annual General & Special Shareholders Meeting
15th Jun 20222:51 pmGNWFalcon Oil & Gas Ltd. - Notice of Annual General and Special Shareholder Meeting and Management Information Circular
7th Jun 20227:00 amGNWFalcon Oil & Gas Ltd. - Granting of stock options
19th May 20227:00 amGNWFalcon Oil & Gas Ltd. - Filing of Interim Financial Statements
13th May 20223:00 pmGNWFalcon Oil & Gas Ltd. - Notice of Annual General and Special Shareholder meeting
4th May 20227:00 amGNWFalcon Oil & Gas Ltd. - Operational Update – Beetaloo Sub-Basin
3rd May 20227:00 amGNWFalcon Oil & Gas Ltd. - Board Changes
28th Apr 20227:00 amGNWFalcon Oil & Gas Ltd. - Full Year Results
8th Apr 20227:00 amGNWFalcon Oil & Gas Ltd. - Issue of Private Placement Shares

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