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Falcon Makes Progress in South Africa; Three Well Australia Project
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Falcon Oil & Gas Ltd. reported its financial results for the three and six months ended 30 June 2015.
Highlights: Operational Commencement of the Australian nine well exploration and appraisal programme, planned from 2015 to 2018, with the spudding of Kalala S-1 on 14 July 2015. Processing of Falcon's exploration license application in South Africa's Karoo Basin continues to progress and the South African Department of Mineral Resources is expected to issue licences in 2015. Financial Strong financial position, debt free with cash of US$10.5 million. Continued focus on strict cost management and efficient operation of the portfolio. G&A expenses decreased 44% period on period in the six months ended 30 June 2015 to US$1.3 million (2014: US$2.2 million).Philip O'Quigley, CEO of Falcon…
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