Business Irish

Sunday 15 September 2019

Falcon Oil & Gas to cease trading on Euronext Dublin

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Ellie Donnelly

Ellie Donnelly

Dublin-headquartered Falcon Oil & Gas is to cease trading on Euronext Dublin.

The last day of trading will be on September 25.

The exploration company will remain on the AIM exchange in London and the Canadian TXS venture exchange.

Meanwhile, the group reported cash of $14.5m (€13m) at 30 June, a jump in the $7m (€6.3m) in cash as at 31 December.

Over the past six months the company has continued its focus on strict cost management and efficient operation of the portfolio, it said in interim financial results.

Falcon’s drilling operations on the Kyalla 117 N2 Horizontal Appraisal well in the Beetaloo Basin in Northern Australia will start next month.

The work will be prepared by Origin Energy, Falcon’s joint venture partner. The well, in the Northern Territory state of Australia, is targeting the liquid rich gas fairway targets in the Kyalla formations.

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