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A worry-free 12 months for Falcon Oil and Gas

Philip O’Quigley, chief executive of Falcon Oil and Gas Ltd (LON:FOG), says the next 12 months are worry-free for the energy company.  When asked about potential  bottlenecks the CEO said: “We’re not using our own cash to do anything. We don’t have any debt. We don’t have any production so we’re not worried about the current price of oil. The drilling programme in Australia is all signed up and ready to go and most of the approvals and processes are already underway.”

O’Quigley describes the recent technical assessment on its Australian shale discovery as “ticking all those wonderful boxes as to say yes this has the great potential of an unconventional play. All the preliminary indicators from a technical asset are really, really good.”
 

Quick facts: Falcon Oil & Gas Ltd

Price: 6.89 GBX

AIM:FOG
Market: AIM
Market Cap: £667.66 k
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Falcon Oil & Gas Ltd excited to be back drilling in the Beetaloo Basin

Falcon Oil & Gas Ltd’s (LON:FOG) (CVE:FO) CEO Philip O'Quigley says it's exciting times for the business as exploration re-commences at Beetaloo. In October, the Kyalla 117 N2-1 was spudded - It is the first well in the ‘Stage 2’ drill programme. The well is located some 32 kilometres...

on 10/10/19

2 min read