Seeking Alpha

Proactive Investor's  Instablog

Proactive Investor
Send Message
Proactiveinvestors is a leading multimedia news organization, investor portal and events management business with offices in New York, Sydney, Toronto and London. Proactiveinvestors operates five financial websites in four languages providing breaking news, comment and analysis on hundreds of... More
My company:
Proactiveinvestors
My blog:
Proactiveinvestors
  • Falcon Oil And Gas Expects Busy Second Half 0 comments
    Aug 29, 2013 2:35 PM

    Falcon Oil & Gas (LON:FOG) (CVE:FO) looks to a busy second half as it unveiled its latest six month numbers.

    Chief executive Philip O'Quigley told investors: "We have been extremely busy during the first half of 2013, successfully raising US$25.7 million of new capital, achieving debt-free status and significantly reducing our operating loss.

    "Our attention has now switched to securing a new farm-out on our acreage in Australia, preparing for the testing of the Kutvolgy-1 well in Hungary and working with Chevron under our Cooperation Agreement in South Africa."

    The firm now owns 96.9% of subsidiary Falcon Australia, which holds four exploration permits in the potentially world-class Beetaloo basin, in the Northern Territory.

    In Hungary, drilling on the Kutvolgy-1 well has been successfully completed and now cased ahead of testing.

    Falcon posted a net loss of US$1.9mln for the three months to end June (2012: loss of US$5.8mln).

    It ended the period with cash of US$14.7mln (2012: US$8.7mln).

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

Back To Proactive Investor's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers

StockTalks

More »

Latest Comments


Posts by Themes
Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.