29th Aug 2025 14:36
(Alliance News) - Falcon Oil & Gas Ltd on Friday said its loss narrowed in the first half of the year as costs fell.
The Australia, Hungary and South Africa-focused oil and gas explorer said its loss narrowed to USD872,000 in the six months to the end of June from USD1.6 million a year ago.
The firm reported no revenue, unchanged from a year ago, and other income of USD63,000, compared to none the year before.
Finance expenses fell 36% to USD290,000 from USD451,000.
The company said it has USD4.8 million in cash as of June 30, down 29% from USD6.8 million at the end of 2024.
It said it has a "continued focus on cost management and the efficient operation of the portfolio".
Shares in Falcon Oil & Gas were down 0.1% at 7.20 pence in London on Friday afternoon.
By Michael Hennessey, Alliance News reporter
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