FOG Falcon Oil & Gas Ltd.

 
TIDMFOG 
 
   Falcon Oil & Gas Ltd. 
 
   ("Falcon") 
 
   Assignment of Canadian Working Interests 
 
   22 February 2021 - Falcon Oil & Gas Ltd. (TSXV: FO, AIM: FOG) has agreed 
to assign its working interest in three gross producing wells and one 
gross shut-in well and associated infrastructure in Alberta, Canada to a 
large Canadian-based company. 
 
   These wells have been loss making and have generated minimal revenues to 
Falcon over the last number of years. Collective revenues for nine 
months to September 2020 were US$3,000 and the associated costs for the 
same period were US$6,000. For the 12 months to December 2019 there were 
revenues of US$5,000 and costs of US$10,000. 
 
   Under the terms of the assignment, Falcon has agreed to pay a total of 
CAD$37,000 to cover its net working interest share of the abandonment 
and reclamation obligations of the wells and associated infrastructure. 
 
   Ends. 
 
   CONTACT DETAILS: 
 
 
 
 
Falcon Oil & Gas Ltd.             +353 1 676 8702 
Philip O'Quigley, CEO            +353 87 814 7042 
Anne Flynn, CFO                   +353 1 676 9162 
 
Cenkos Securities plc (NOMAD & 
 Broker) 
Neil McDonald / Derrick Lee      +44 131 220 9771 
 
   About Falcon Oil & Gas Ltd. 
 
   Falcon Oil & Gas Ltd is an international oil & gas company engaged in 
the exploration and development of 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. 
 
   For further information on Falcon Oil & Gas Ltd. please visit 
https://www.globenewswire.com/Tracker?data=sIuRveWL2vZz39ittXjrxtagIoPu_EmH-pcInEF6IQdJXJ_zzxhdITHyUqcUxR5irJUae4l8IxHSMZinVL2Mrogk5wv33MMBgdQcXkWGb90= 
www.falconoilandgas.com 
 
   Glossary of terms 
 
 
 
 
CAD$  Canadian dollar 
US$   United States dollar 
 
 
   Certain information in this press release may constitute forward-looking 
information. This information is based on current expectations that are 
subject to significant risks and uncertainties that are difficult to 
predict. Actual results might differ materially from results suggested 
in any forward-looking statements. Falcon assumes no obligation to 
update the forward-looking statements, or to update the reasons why 
actual results could differ from those reflected in the forward 
looking-statements unless and until required by securities laws 
applicable to Falcon. Additional information identifying risks and 
uncertainties is contained in Falcon's filings with the Canadian 
securities regulators, which filings are available at www.sedar.com. 
 
   Neither the TSX Venture Exchange nor its Regulation Services Provider 
(as that term is defined in the policies of the TSX Venture Exchange) 
accepts responsibility for the adequacy or accuracy of this release. 
 
 
 
 

(END) Dow Jones Newswires

February 22, 2021 02:00 ET (07:00 GMT)

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