Falcon Oil & Gas

FOG: 22.15 -0.25 (▼1.09%)

Delayed:2017-06-27 17:30:00
Bid Price 22.00 High Price 22.60
Ask Price 23.50 Low Price 22.04
Open Price 22.75 Spread 6.59%
Prev Close 22.75 Volume 63,663.00

Falcon Oil & Gas Share Price Chart

Intraday

Historic - 1 year


Falcon Oil & Gas Share Price Information

Name Falcon Oil & Gas Epic FOG
Sector Oil & Gas Producers ISIN CA3060711015
Activites Falcon Oil & Gas Ltd is an international oil & gas company engaged in the acquisition, exploration and development of conventional and unconventional oil and gas assets, with the current portfolio focused in Australia, South Africa and Hungary. Falcon Oil & Gas Ltd is incorporated in British Columbia, Canada and headquartered in Dublin, Ireland with a technical team based in Budapest, Hungary. Security Type Equity

Key numbers

Latest Share Price (p) 22.75 Net Gearing (%) 0.81
Market Cap (£m) 213.33 Gross Gearing (%) 20.24
Shares in issue (m) 927.54 Debt Ratio 18.90
P/E Ratio -57.50 Debt-to-Equity Ratio 0.92
Divs per share (p) 0.00 Assets / Equity Ratio 1.25
Dividend Yield (%) 0.00 Price to book value 5.13
Dividend Cover 0.00 SROCE (%) -7.20
Earning per share (p) -0.40 EPS Growth (%) -3900.00
52-week high / low (p) 28.75 / 3.63 DPS Growth (%)

Falcon Oil & Gas Broker Views

Date Broker Rec. Price Old target price New target price Notes
17 Feb finnCap Buy 22.15 23.00 23.00 Reiterates
15 Feb finnCap Buy 22.15 23.00 23.00 Reiterates
28 Nov Cantor Fitzgerald Under Review 22.15 Under Review
26 May Cantor Fitzgerald Buy 22.15 19.00 19.00 Reiterates
29 Apr Cantor Fitzgerald Buy 22.15 19.00 19.00 Retains

Falcon Oil & Gas Director Deals


Falcon Oil & Gas Company News

Falcon notes Origin's increased stake in Beetaloo JV

Falcon Oil & Gas has noted that Origin Energy has acquired Sasol Petroleum Australia's 35% interest in in the Beetaloo joint venture, bringing its interest to 70%.

Falcon said that Sasol departed the JV to focus its capital investment on its African and North American footprint.

It said the transaction was subject to the satisfaction of certain conditions, including government approval.

Falcon said the transaction would not impact its 2014 farmout agreement as Origin would now assume 100% of the future costs of the farmout.

Chief executive Philip O'Quigley said: "Having recently announced the discovery of a material shale gas resource in the Beetaloo Basin, Origin's doubling of its interest in the Beetaloo joint venture is a significant endorsement in what some regard as the Northern Territory's most prospective onshore basin for shale gas.

"We look forward with Origin to progressing our understanding of the entire play while maturing the contingent resources to reserves over time, subject to the outcome of the Northern Territory's inquiry into hydraulic fracturing.

"Falcon recognises Sasol's contribution to the Beetaloo Joint Venture and wishes them the very best for the future."


At 8:11am: (LON:FOG) Falcon Oil Gas share price was +0.5p at 25.25p



Story provided by StockMarketWire.com

Falcon losses widen

Falcon Oil & Gas's pre-tax losses rose to $3.7m in the year to the end of December - up from $90,000 last time.

The group said it successfully completed the drilling of the Beetaloo W-1 well to a total depth of 3,173 with very encouraging results and hydraulic stimulation of the horizontal Amungee NW-1H well was also completed.

In February this year the group announced that Origin Energy Resources , Falcon's 35% joint venture partner submitted the results of evaluation of the discovery and preliminary estimate of petroleum in place for the Amungee NW-1H Velkerri B Shale Gas Pool to the Northern Territory government indicating a material gas resource.

It said completion of the nine well exploration and appraisal programme would be delayed pending the outcome of the independent scientific inquiry on hydraulic fracturing.

Falcon said processing of its exploration licence application in South Africa's Karoo Basin continued to progress and the South African Department of Mineral Resources was expected to issue licences this year.

Chief executive Philip O'Quigley said: "2016 was a landmark year for our Company with the first extended production test in the Beetaloo basin and the announcement of a material gas resource.

"Our 2017 drilling program is delayed pending the outcome of the independent scientific inquiry on hydraulic fracturing, however we are hopeful of a favourable outcome and the resumption of drilling in the not too distant future."






Story provided by StockMarketWire.com

FLASH: Falcon pre-tax losses rise






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Potential US rate rise keeps banks rallying

A banking rally helped the FTSE 100 to break past the 7,300 barrier after chair of the US Federal Reserve Janet Yellen suggested it could raise interest rates soon.

Banks benefit from higher interest rates as they can earn more from lending.

Standard Chartered (STAN), Natwest owner Royal Bank of Scotland (RBS), high street bank Lloyds (LLOY) and Barclays (BARC) gained by up to 2.5%.

West Texas Intermediate and Brent crude oil were 0.5% lower at $53 and $55.66 per barrel, respectively.

Gold was flat at $1,224 per ounce and copper retreated to $6,018 per tonne.

On Wall Street, the S&P 500 and Dow Jones opened in the higher.

Asia's largest index, the Nikkei 225, advanced 1% on a weaker yen, which was good news for exporters in the country.

Hong Kong's Hang Seng index rose 1.2%, while the SSE Composite in Shanghai nudged lower.

FTSE 100 RISERS AND FALLERS

Tour operator TUI (TUI) suffered a 7% hit following a Hanover court ruling that said the firm had to provide sick pay after an unusually high number of pilots and cabin crew were ill in October. TUI believed staff were pulling sickies as part of an unofficial strike over potential job cuts.

Copper miner Anglo American's (AAL) subsidiary Anglo American Platinum contributed $100m less in earnings to the company at the end of last year, compared to 2015.

FTSE 250 RISERS AND FALLERS

Budget coach services Stagecoach (SGC) sold its interest in the Twin America joint venture for an undisclosed sum. It principally operates sightseeing bus services in New York.

Financial broker NEX Group (NXG), formerly ICAP, struggled despite posting an 11% increase in revenue for its third quarter as Donald Trump's election as US President sparked more trading activity. It warned it was too early to assume a period of subdued market conditions was at an end.

SMALL CAP RISERS AND FALLERS

Shares in Australian-focused oil and gas firm Falcon Oil & Gas (FOG) shot up 58%. Figures produced by partner Origin Energy suggested its acreage in the Northern Territory's Beetaloo basin could contain as much as 496 trillion cubic feet of gas.

Micro-cap investor in the natural resources sector Polemos (PLMO) raised £495,000 through a discounted placing. Its shares plummeted 32%.

Software developer for rail operators Tracsis (TRCS) disappointed investors with slower sales as some are expected to take place in the second half of 2017, instead of the first half of the year. The stock fell by 13.4% to 402.5p on the bad news.


Story provided by StockMarketWire.com

Banks boost FTSE on quiet day

It was a surprisingly quiet day for corporate news, but banking stocks provided positive momentum for the blue-chip index.

Natwest owner Royal Bank of Scotland (RBS), high street bank Lloyds (LLOY) and Barclays (BARC) jumped by up to 2%.

Primark owner Associated British Foods (ABF) also rose by over 1%.

West Texas Intermediate and Brent crude oil both slid 0.4% lower to $53 and $55.75 per barrel, respectively.

Gold nudged higher to $1,225 per ounce and copper was stable at $6,018 per tonne.

UK unemployment remained at an 11-year low, as there were 1.6 million people out of work.

On Wall Street, the S&P 500 and Dow Jones closed 0.4% higher on Tuesday.

Asia's largest index, the Nikkei 225, advanced 1% on a weaker yen, which was good news for exporters in the country.

Hong Kong's Hang Seng index rose 1.2%, while the SSE Composite in Shanghai nudged lower.

FTSE 100 RISERS AND FALLERS

Copper miner Anglo American's (AAL) subsidiary Anglo American Platinum contributed $100m less in earnings to the company at the end of last year, compared to 2015.

FTSE 250 RISERS AND FALLERS

Budget coach services Stagecoach (SGC) sold its interest in the Twin America joint venture for an undisclosed sum. It principally operates sightseeing bus services in New York.

Financial broker NEX Group (NXG), formerly ICAP, struggled despite posting an 11% increase in revenue for its third quarter as Donald Trump's election as US President sparked more trading activity. It warned it was too early to assume a period of subdued market conditions was at an end.

Defence business QinetiQ (QQ.) confirmed trading in its third quarter was in line with expectations and was positive concerning future growth.

SMALL CAP RISERS AND FALLERS

Shares in Australian-focused oil and gas firm Falcon Oil & Gas (FOG) shot up 40%. Figures produced by partner Origin Energy suggested its acreage in the Northern Territory's Beetaloo basin could contain as much as 496 trillion cubic feet of gas.

Veterinary medicines supplier Animalcare Group (ANCR) reported underlying profit rose by over a fifth to £1.9m in the second half of 2016.

Micro-cap investor in the natural resources sector Polemos (PLMO) raised £495,000 through a discounted placing. Its shares plummeted 26.3%.

Software developer for rail operators Tracsis (TRCS) disappointed investors with slower sales as some are expected to take place in the second half of 2017, instead of the first half of the year. The stock fell by 11.8% to 409.8p on the bad news.


Story provided by StockMarketWire.com