Falcon saw a major breakthrough last month, as Australian authorities green-lighted its shale project in the Northern Territory.
(LON:FOG, CVE:FO) highlighted its strong position as it filed interim financial statement for the three months ended March 31.
The company boasted a cash position of US$8.5mln and noted that it is debt free.
It also highlighted that the company continued to focus on cost management and efficient operation of the portfolio.
The pre-revenue oiler reported a US$655,000 loss for the quarter, compared to US$2.95mln in the same period last year.
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