{"success":true,"data":{"pressRelease":{"id":"40117","rtpr_id":"nGNX3bGmLN","ticker":"FO","exchange":"","all_tickers":["FO"],"title":"Falcon Oil & Gas Ltd. - Filing of Interim Financial Statements","author":"Globe Newswire","published_at":"2026-05-20T06:00:00.594Z","article_body":"FALCON OIL & GAS LTD.\n\n(“Falcon”)\n\nFiling of Interim Financial Statements\n\n20 May 2026 - Falcon Oil & Gas Ltd. (TSXV: FO, AIM: FOG) announces that it has\nfiled its interim financial statements for the three months ended 31 March\n2026 and 2025 and the accompanying Management’s Discussion and Analysis\n(“MD&A”).\n\nThe following should be read in conjunction with the complete unaudited\nunreviewed interim financial statements and the accompanying MD&A for the\nthree months ended 31 March 2026, which are available on the Canadian System\nfor Electronic Document Analysis and Retrieval (“SEDAR+”) at\nwww.sedarplus.ca and on Falcon’s website at www.falconoilandgas.com.\n\nQ1 2026 Financial Highlights\n* The definitive agreement entered into between Falcon and Tamboran Resources\nCorporation (NYSE: TBN, ASX: TBN) is progressing and is expected to close in\nthe second quarter of 2026.\n* Continued focus on strict cost management and efficient operation of the\nportfolio.\nEnds.\n\nFor further information, please contact:\n\nCONTACT DETAILS:\n\n Falcon Oil & Gas Ltd. +353 1 676 8702 \n Philip O’Quigley, CEO +353 87 814 7042 \n Anne Flynn, CFO +353 1 676 9162 \n \n Cavendish Capital Markets Limited (NOMAD & Broker) \n Neil McDonald +44 131 220 9771 \n \n\n\n\nFalcon Oil & Gas Ltd.\nInterim Condensed Consolidated Statement of Operations and Comprehensive Loss\n(Unaudited)\n\n Three months ended 31 March 2026 $’000 Three months ended 31 March 2025 $’000 \n \n Revenue \n Oil and natural gas revenue - - \n - - \n \n Expenses \n Exploration and evaluation expenses (45) (40) \n General and administrative expenses (981) (491) \n Foreign exchange (loss) / gain (109) 77 \n (1,135) (454) \n \n Results from operating activities (1,135) (454) \n \n Finance income 34 98 \n Finance expense (150) (141) \n Net finance expense (116) (43) \n \n Loss and comprehensive loss for the period (1,251) (497) \n \n Loss and comprehensive loss attributable to: \n \n Equity holders of the company (1,250) (497) \n Non-controlling interests (1) - \n \n Loss and comprehensive loss for the period (1,251) (497) \n \n \n Loss per share attributable to equity holders of the company: \n \n Basic and diluted ($0.001) ($0.000) \n\n* For details on expenses related to discontinued operations please refer to\nthe interim financial statements for the three months ended 31 March 2026 and\n2025 which are available on www.sedarplus.ca.\n\n\n\nFalcon Oil & Gas Ltd.\nInterim Condensed Consolidated Statement of Financial Position\n(Unaudited)\n\n At 31 March 2026 $’000 At 31 December 2025 $’000 \n \n Assets \n Non-current assets \n Exploration and evaluation assets 59,066 56,797 \n Right of use assets - 4 \n Decommissioning deposits 2,751 2,798 \n Restricted cash 35 35 \n 61,852 59,634 \n \n Current assets \n Cash and cash equivalents 197 1,282 \n Accounts receivable 212 173 \n 409 1,455 \n \n Total assets 62,261 61,089 \n \n Equity and liabilities \n \n Equity attributable to owners of the parent \n Share capital 406,684 406,684 \n Contributed surplus 47,446 47,446 \n Deficit (413,992) (412,742) \n 40,138 41,388 \n Non-controlling interests 680 681 \n Total equity 40,818 42,069 \n \n Liabilities \n Non-current liabilities \n Decommissioning provision 17,474 17,261 \n 17,474 17,261 \n \n Current liabilities \n Accounts payable and accrued expenses 3,969 1,753 \n Lease liability - 6 \n 3,969 1,759 \n Total liabilities 21,443 19,020 \n \n Total equity and liabilities 62,261 61,089 \n\n* For details on assets held for sale and liabilities directly associated with\nassets in a disposal group held for sale please refer to the interim financial\nstatements for the three months ended 31 March 2026 and 2025 which are\navailable on www.sedarplus.ca.\n\n\n\nFalcon Oil & Gas Ltd.\nInterim Condensed Consolidated Statement of Cash Flows\n(Unaudited)\n\n Three months ended 31 March \n 2026 $’000 2025 $’000 \n \n Cash flows from operating activities \n Net loss for the period (1,251) (497) \n Adjustments for: \n Amortisation of right of use assets 5 - \n Net finance expense 116 43 \n Effect of exchange rates on operating activities 109 (77) \n Change in non-cash working capital: \n Increase in accounts receivable (40) (110) \n (Decrease) / increase in accounts payable and accrued expenses (58) 19 \n Net cash used in operating activities (1,119) (622) \n \n Cash flows from investing activities \n Interest received 1 8 \n Exploration and evaluation assets - (2,384) \n Legacy exploration permit bonds refund - 19 \n R&D Tax incentive refund - 2,962 \n Net cash generated by investing activities 1 605 \n \n Change in cash and cash equivalents (1,118) (17) \n Effect of exchange rates on cash and cash equivalents 33 90 \n \n Cash and cash equivalents at beginning of period 1,282 6,823 \n \n Cash and cash equivalents at end of period 197 6,896 \n\nAll dollar amounts in this document are in United States dollars “$”,\nexcept as otherwise indicated.\n\nAbout Falcon Oil & Gas Ltd.\n\nFalcon Oil & Gas Ltd is an international oil & gas company engaged in the\nexploration and development of unconventional oil and gas assets, with the\ncurrent portfolio focused in Australia, South Africa and Hungary. Falcon Oil &\nGas Ltd is incorporated in British Columbia, Canada and headquartered in\nDublin, Ireland.\n\nFor further information on Falcon Oil & Gas Ltd. please visit\nwww.falconoilandgas.com\n\nNeither the TSX Venture Exchange nor its Regulation Services Provider (as that\nterm is defined in the policies of the TSX Venture Exchange) accepts\nresponsibility for the adequacy or accuracy of this release.\n\nCertain information in this press release may constitute forward-looking\ninformation. This information is based on current expectations that are\nsubject to significant risks and uncertainties that are difficult to predict.\nActual results might differ materially from results suggested in any\nforward-looking statements. Falcon assumes no obligation to update the\nforward-looking statements, or to update the reasons why actual results could\ndiffer from those reflected in the forward looking-statements unless and until\nrequired by securities laws applicable to Falcon. Additional information\nidentifying risks and uncertainties is contained in Falcon’s filings with\nthe Canadian securities regulators, which filings are available at\nwww.sedarplus.ca.\n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/7953b45f-f62b-4b2f-b653-cdb1f2d86139)\n\n\n\nGlobeNewswire, Inc. 2026","article_body_html":"","raw_payload":{"data":{"id":"nGNX3bGmLN","title":"Falcon Oil & Gas Ltd. - Filing of Interim Financial Statements","author":"Globe Newswire","ticker":"FO","created":"2026-05-20T06:00:00.594Z","tickers":["FO"],"exchange":"","article_body":"FALCON OIL & GAS LTD.\n\n(“Falcon”)\n\nFiling of Interim Financial Statements\n\n20 May 2026 - Falcon Oil & Gas Ltd. (TSXV: FO, AIM: FOG) announces that it has\nfiled its interim financial statements for the three months ended 31 March\n2026 and 2025 and the accompanying Management’s Discussion and Analysis\n(“MD&A”).\n\nThe following should be read in conjunction with the complete unaudited\nunreviewed interim financial statements and the accompanying MD&A for the\nthree months ended 31 March 2026, which are available on the Canadian System\nfor Electronic Document Analysis and Retrieval (“SEDAR+”) at\nwww.sedarplus.ca and on Falcon’s website at www.falconoilandgas.com.\n\nQ1 2026 Financial Highlights\n* The definitive agreement entered into between Falcon and Tamboran Resources\nCorporation (NYSE: TBN, ASX: TBN) is progressing and is expected to close in\nthe second quarter of 2026.\n* Continued focus on strict cost management and efficient operation of the\nportfolio.\nEnds.\n\nFor further information, please contact:\n\nCONTACT DETAILS:\n\n Falcon Oil & Gas Ltd. +353 1 676 8702 \n Philip O’Quigley, CEO +353 87 814 7042 \n Anne Flynn, CFO +353 1 676 9162 \n \n Cavendish Capital Markets Limited (NOMAD & Broker) \n Neil McDonald +44 131 220 9771 \n \n\n\n\nFalcon Oil & Gas Ltd.\nInterim Condensed Consolidated Statement of Operations and Comprehensive Loss\n(Unaudited)\n\n Three months ended 31 March 2026 $’000 Three months ended 31 March 2025 $’000 \n \n Revenue \n Oil and natural gas revenue - - \n - - \n \n Expenses \n Exploration and evaluation expenses (45) (40) \n General and administrative expenses (981) (491) \n Foreign exchange (loss) / gain (109) 77 \n (1,135) (454) \n \n Results from operating activities (1,135) (454) \n \n Finance income 34 98 \n Finance expense (150) (141) \n Net finance expense (116) (43) \n \n Loss and comprehensive loss for the period (1,251) (497) \n \n Loss and comprehensive loss attributable to: \n \n Equity holders of the company (1,250) (497) \n Non-controlling interests (1) - \n \n Loss and comprehensive loss for the period (1,251) (497) \n \n \n Loss per share attributable to equity holders of the company: \n \n Basic and diluted ($0.001) ($0.000) \n\n* For details on expenses related to discontinued operations please refer to\nthe interim financial statements for the three months ended 31 March 2026 and\n2025 which are available on www.sedarplus.ca.\n\n\n\nFalcon Oil & Gas Ltd.\nInterim Condensed Consolidated Statement of Financial Position\n(Unaudited)\n\n At 31 March 2026 $’000 At 31 December 2025 $’000 \n \n Assets \n Non-current assets \n Exploration and evaluation assets 59,066 56,797 \n Right of use assets - 4 \n Decommissioning deposits 2,751 2,798 \n Restricted cash 35 35 \n 61,852 59,634 \n \n Current assets \n Cash and cash equivalents 197 1,282 \n Accounts receivable 212 173 \n 409 1,455 \n \n Total assets 62,261 61,089 \n \n Equity and liabilities \n \n Equity attributable to owners of the parent \n Share capital 406,684 406,684 \n Contributed surplus 47,446 47,446 \n Deficit (413,992) (412,742) \n 40,138 41,388 \n Non-controlling interests 680 681 \n Total equity 40,818 42,069 \n \n Liabilities \n Non-current liabilities \n Decommissioning provision 17,474 17,261 \n 17,474 17,261 \n \n Current liabilities \n Accounts payable and accrued expenses 3,969 1,753 \n Lease liability - 6 \n 3,969 1,759 \n Total liabilities 21,443 19,020 \n \n Total equity and liabilities 62,261 61,089 \n\n* For details on assets held for sale and liabilities directly associated with\nassets in a disposal group held for sale please refer to the interim financial\nstatements for the three months ended 31 March 2026 and 2025 which are\navailable on www.sedarplus.ca.\n\n\n\nFalcon Oil & Gas Ltd.\nInterim Condensed Consolidated Statement of Cash Flows\n(Unaudited)\n\n Three months ended 31 March \n 2026 $’000 2025 $’000 \n \n Cash flows from operating activities \n Net loss for the period (1,251) (497) \n Adjustments for: \n Amortisation of right of use assets 5 - \n Net finance expense 116 43 \n Effect of exchange rates on operating activities 109 (77) \n Change in non-cash working capital: \n Increase in accounts receivable (40) (110) \n (Decrease) / increase in accounts payable and accrued expenses (58) 19 \n Net cash used in operating activities (1,119) (622) \n \n Cash flows from investing activities \n Interest received 1 8 \n Exploration and evaluation assets - (2,384) \n Legacy exploration permit bonds refund - 19 \n R&D Tax incentive refund - 2,962 \n Net cash generated by investing activities 1 605 \n \n Change in cash and cash equivalents (1,118) (17) \n Effect of exchange rates on cash and cash equivalents 33 90 \n \n Cash and cash equivalents at beginning of period 1,282 6,823 \n \n Cash and cash equivalents at end of period 197 6,896 \n\nAll dollar amounts in this document are in United States dollars “$”,\nexcept as otherwise indicated.\n\nAbout Falcon Oil & Gas Ltd.\n\nFalcon Oil & Gas Ltd is an international oil & gas company engaged in the\nexploration and development of unconventional oil and gas assets, with the\ncurrent portfolio focused in Australia, South Africa and Hungary. Falcon Oil &\nGas Ltd is incorporated in British Columbia, Canada and headquartered in\nDublin, Ireland.\n\nFor further information on Falcon Oil & Gas Ltd. please visit\nwww.falconoilandgas.com\n\nNeither the TSX Venture Exchange nor its Regulation Services Provider (as that\nterm is defined in the policies of the TSX Venture Exchange) accepts\nresponsibility for the adequacy or accuracy of this release.\n\nCertain information in this press release may constitute forward-looking\ninformation. This information is based on current expectations that are\nsubject to significant risks and uncertainties that are difficult to predict.\nActual results might differ materially from results suggested in any\nforward-looking statements. Falcon assumes no obligation to update the\nforward-looking statements, or to update the reasons why actual results could\ndiffer from those reflected in the forward looking-statements unless and until\nrequired by securities laws applicable to Falcon. Additional information\nidentifying risks and uncertainties is contained in Falcon’s filings with\nthe Canadian securities regulators, which filings are available at\nwww.sedarplus.ca.\n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/7953b45f-f62b-4b2f-b653-cdb1f2d86139)\n\n\n\nGlobeNewswire, Inc. 2026"},"type":"article","timestamp":"2026-05-20T06:00:00.634143902Z","server_sent_at_ms":1779256800634},"received_at":"2026-05-20T06:00:00.785Z","source_url":null},"analysis":{"id":"29557","press_release_id":"40117","analysis_json":{"industry":{"label":"Oil, Gas & Consumable Fuels","sector":"Energy"},"redFlags":["Cash balance critically low at $197K","Zero revenue generated in Q1","Net loss widened significantly YoY"],"eventType":"earnings","narrative":"Falcon Oil & Gas filed Q1 2026 interim results showing zero revenue and a net loss of $1.25 million, widening from a $497,000 loss in the prior year period.\n\nCash reserves dropped sharply from $1.28 million to $197,000, driven by $1.12 million in operating cash outflows and no offsetting operating income.\n\nThe company noted that its definitive agreement with Tamboran Resources is progressing and expected to close in Q2 2026, while maintaining a focus on cost management.","sentiment":"bearish","agentHooks":{"shouldPost":false,"suggestedAngle":"Routine filing highlights cash burn and lack of revenue ahead of expected Tamboran merger close."},"keyFigures":{"revenue":0,"customDimensions":{"total_assets":62261000,"total_equity":40818000,"total_liabilities":21443000,"exploration_assets":59066000,"cash_and_equivalents":197000}},"quotedText":"The definitive agreement entered into between Falcon and Tamboran Resources Corporation is progressing and is expected to close in the second quarter of 2026.","namedEntities":{"people":[{"name":"Philip O’Quigley","role":"CEO"},{"name":"Anne Flynn","role":"CFO"},{"name":"Neil McDonald","role":"Broker/NOMAD"}],"products":[],"companies":[{"name":"Falcon Oil & Gas Ltd.","ticker":"FO","relationship":"filer"},{"name":"Tamboran Resources Corporation","ticker":"TBN","relationship":"acquirer"},{"name":"Cavendish Capital Markets Limited","relationship":"broker"}],"dollarAmounts":[{"amount":"$1,251,000","context":"Net loss for Q1 2026"},{"amount":"$197,000","context":"Cash and cash equivalents at end of period"},{"amount":"$1,282,000","context":"Cash and cash equivalents at beginning of period"},{"amount":"$62,261,000","context":"Total assets"}]},"materialImpact":{"score":2,"reasoning":"Routine Q1 interim filing for a small-cap explorer. The company reported zero revenue and a net loss of $1.25M, with cash reserves declining significantly from $1.28M to $197K. While the Tamboran merger is progressing, the financials show continued burn with no operational income."},"tickerRelevance":{"others":[{"ticker":"TBN","relevance":"acquirer"}],"primary":"FO"},"globalImportance":15,"audienceRelevance":10,"eventTypeSecondary":[],"importanceComponents":{"tickerTier":"small-cap","eventGravity":"routine-filing","sectorWeight":"low","householdBrandBoost":0,"marketCapAdjustment":"negative"}},"event_type":"earnings","event_type_secondary":null,"sentiment":"bearish","material_impact_score":2,"narrative":"Falcon Oil & Gas filed Q1 2026 interim results showing zero revenue and a net loss of $1.25 million, widening from a $497,000 loss in the prior year period.\n\nCash reserves dropped sharply from $1.28 million to $197,000, driven by $1.12 million in operating cash outflows and no offsetting operating income.\n\nThe company noted that its definitive agreement with Tamboran Resources is progressing and expected to close in Q2 2026, while maintaining a focus on cost management.","key_figures":{"revenue":0,"customDimensions":{"total_assets":62261000,"total_equity":40818000,"total_liabilities":21443000,"exploration_assets":59066000,"cash_and_equivalents":197000}},"named_entities":{"people":[{"name":"Philip O’Quigley","role":"CEO"},{"name":"Anne Flynn","role":"CFO"},{"name":"Neil McDonald","role":"Broker/NOMAD"}],"products":[],"companies":[{"name":"Falcon Oil & Gas Ltd.","ticker":"FO","relationship":"filer"},{"name":"Tamboran Resources Corporation","ticker":"TBN","relationship":"acquirer"},{"name":"Cavendish Capital Markets Limited","relationship":"broker"}],"dollarAmounts":[{"amount":"$1,251,000","context":"Net loss for Q1 2026"},{"amount":"$197,000","context":"Cash and cash equivalents at end of period"},{"amount":"$1,282,000","context":"Cash and cash equivalents at beginning of period"},{"amount":"$62,261,000","context":"Total assets"}]},"model_name":"qwen3_6_27b_awq","prompt_hash":"sha256:727b4b9429a443af","schema_hash":"sha256:05005c02d9cffac9","created_at":"2026-05-20T06:01:12.550Z","global_importance":15,"audience_relevance":10,"importance_components":{"tickerTier":"small-cap","eventGravity":"routine-filing","sectorWeight":"low","householdBrandBoost":0,"marketCapAdjustment":"negative"}},"durationMs":27906,"modelName":"george-droid-qwen-72b"}}