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Falcon Oil & Gas looking forward to 2015 catalysts


Falcon Oil & Gas (LON:FOG) chief executive Philip O'Quigley describes the group's first nine months of 2014 as busy.

He says progress to date with its Australian shale joint venture, alongside Origin and Sasol, has  been excellent and it has shown that teaming up with Origin, a local operator, was the optimal choice.

Falcon and its partners now look forward to the 'dry season' which will bring the start of drilling, for a three well 2015 programme.

O'Quigley highlights a pick-up in activity regarding its interests in South Africa's nascent shale sector, where he says the regulatory environment is developing.

The Falcon CEO says the group is looking to 2015 with excitement as there are a number of "very high value adding event" anticipated in both Australia and South Africa.

In this morning's interim results reveal the pre-revenue explorer made a US$4mln loss over the first three quarters of the year, though operating expenses reduced to US$3.9mln compared to US$4.4mln in the same period of last year.

Falcon had US$18.4mln of cash as of September 30 2014.

Quick facts: Falcon Oil & Gas Ltd

Price: 8.44 GBX

Market: AIM
Market Cap: £82.87 m

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