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FALCON OIL & GAS LTD.
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(“Falcon”)
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Filing of Interim Financial Statements
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20 May 2026 – Falcon Oil & Gas Ltd. (TSXV: FO, AIM: FOG) announces that it has filed its interim financial statements for the three months ended 31 March 2026 and 2025 and the accompanying Management’s Discussion and Analysis (“MD&A”).
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The following should be read in conjunction with the complete unaudited unreviewed interim financial statements and the accompanying MD&A for the three months ended 31 March 2026, which are available on the Canadian System for Electronic Document Analysis and Retrieval (“SEDAR+”) at www.sedarplus.ca and on Falcon’s website at www.falconoilandgas.com.
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Q1 2026 Financial Highlights
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- The definitive agreement entered into between Falcon and Tamboran Resources Corporation (NYSE: TBN, ASX: TBN) is progressing and is expected to close in the second quarter of 2026.
- Continued focus on strict cost management and efficient operation of the portfolio.
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Ends.
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For further information, please contact:
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CONTACT DETAILS:
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| Falcon Oil & Gas Ltd. | +353 1 676 8702 |
| Philip O’Quigley, CEO | +353 87 814 7042 |
| Anne Flynn, CFO | +353 1 676 9162 |
| Cavendish Capital Markets Limited (NOMAD & Broker) | |
| Neil McDonald | +44 131 220 9771 |
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Falcon Oil & Gas Ltd.
Interim Condensed Consolidated Statement of Operations and Comprehensive Loss
(Unaudited)
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| Three months ended 31 March 2026 $’000 | Three months ended 31 March 2025 $’000 | |||||
| Revenue | ||||||
| Oil and natural gas revenue | – | – | ||||
| – | – | |||||
| Expenses | ||||||
| Exploration and evaluation expenses | (45) | (40) | ||||
| General and administrative expenses | (981) | (491) | ||||
| Foreign exchange (loss) / gain | (109) | 77 | ||||
| (1,135) | (454) | |||||
| Results from operating activities | (1,135) | (454) | ||||
| Finance income | 34 | 98 | ||||
| Finance expense | (150) | (141) | ||||
| Net finance expense | (116) | (43) | ||||
| Loss and comprehensive loss for the period | (1,251) | (497) | ||||
| Loss and comprehensive loss attributable to: | ||||||
| Equity holders of the company | (1,250) | (497) | ||||
| Non-controlling interests | (1) | – | ||||
| Loss and comprehensive loss for the period | (1,251) | (497) | ||||
| Loss per share attributable to equity holders of the company: | ||||||
| Basic and diluted | ($0.001) | ($0.000) | ||||
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* For details on expenses related to discontinued operations please refer to the interim financial statements for the three months ended 31 March 2026 and 2025 which are available on www.sedarplus.ca.
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Falcon Oil & Gas Ltd.
Interim Condensed Consolidated Statement of Financial Position
(Unaudited)
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| At 31 March 2026 $’000 | At 31 December 2025 $’000 | ||
| Assets | |||
| Non-current assets | |||
| Exploration and evaluation assets | 59,066 | 56,797 | |
| Right of use assets | – | 4 | |
| Decommissioning deposits | 2,751 | 2,798 | |
| Restricted cash | 35 | 35 | |
| 61,852 | 59,634 | ||
| Current assets | |||
| Cash and cash equivalents | 197 | 1,282 | |
| Accounts receivable | 212 | 173 | |
| 409 | 1,455 | ||
| Total assets | 62,261 | 61,089 | |
| Equity and liabilities | |||
| Equity attributable to owners of the parent | |||
| Share capital | 406,684 | 406,684 | |
| Contributed surplus | 47,446 | 47,446 | |
| Deficit | (413,992) | (412,742) | |
| 40,138 | 41,388 | ||
| Non-controlling interests | 680 | 681 | |
| Total equity | 40,818 | 42,069 | |
| Liabilities | |||
| Non-current liabilities | |||
| Decommissioning provision | 17,474 | 17,261 | |
| 17,474 | 17,261 | ||
| Current liabilities | |||
| Accounts payable and accrued expenses | 3,969 | 1,753 | |
| Lease liability | – | 6 | |
| 3,969 | 1,759 | ||
| Total liabilities | 21,443 | 19,020 | |
| Total equity and liabilities | 62,261 | 61,089 |
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