Falcon Oil & Gas highlights debt free status and continued focus on cost management as losses narrow
Falcon Oil & Gas Ltd (LON:FOG) has highlighted its debt free status and a continued focus on cost management and the efficient operation of its portfolio in its interim financials as it narrowed its quarterly losses.
In results for the three months to September 30, 2020, the company reported a loss of US$146,000 compared to a US$764,000 loss a year ago, while revenues were steady at US$1,000.
The company also reported a cash balance at the end of the period of US$11.5mln, while net finance income swung to a US$279,000 gain from a US$360,000 loss a year ago.
Shares in Falcon rose 2.8% to 7.3p in early deals on Friday.