2017-08-25 06:30 ET - News Release

Mr. Philip O'Quigley reports

FILING OF INTERIM FINANCIAL STATEMENTS

Falcon Oil & Gas Ltd. has filed its interim financial statements for the three and six months ended June 30, 2017, and the accompanying management's discussion and analysis (all amounts are in U.S. dollars).

The following should be read in conjunction with the complete unaudited unreviewed interim financial statements and the accompanying management's discussion and analysis for the three and six months ended June 30, 2017, which are available on SEDAR and on Falcon's website.

2017 operational highlights

• Strong financial position, debt-free, with cash of $9.7-million at June 30, 2017 (Dec. 31, 2016: $10.1-million);
• Continued focus on strict cost management and efficient operation of the portfolio;
• General and administrative expenses decreased 16 per cent period on period to $961,000 (2016: $1,144,000).

Annual general and special meeting

As previously announced, Falcon's annual general and special shareholder meeting will be held at the Conrad Hotel, Earlsfort Terrace, Dublin 2, Ireland, on Sept. 14, 2017, at 11 a.m. Dublin time. A complete notice and related documents have been sent to shareholders of record as at Aug. 4, 2017, and are also available on SEDAR and Falcon's website.

About Falcon Oil & Gas Ltd.

Falcon Oil & Gas is an international oil and 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.