Connect with us

Hi, what are you looking for?


Cenkos hails Falcon Oil & Gass unique position on AIM, price target implies +500% upside

Falcon Oil & Gas Plc (LON:FOG) is a unique proposition on AIM, according to Cenkos, which has repeat..

Falcon Oil & Gas Plc (LON:FOG) is a unique proposition on AIM, according to Cenkos, which has repeated a buy and a price target of 40p per share which implies some 545% upside to the explorers current price.

Cenkos analyst James McCormack, in a note, highlights that Falcon is debt-free and fully-funded through its upcoming work campaign.

Moreover, Falcon has sufficient cash to see it through to a potential monetisation of its remaining 22.5% stake in the Beetaloo shale project in Australias northern territory.

READ: Falcon Oil & Gas results confirm strong financial position[hhmc]

“We believe Falcon is now fully funded through one of the greatest periods of uncertainty in the oil and gas industry, eliminating all equity and dilution risk for shareholders,” the analyst said.

Operationally, the coronavirus (COVID-19) pandemic arrived midway through a key programme, with the joint venture partners awaiting the fracking of the Kyalla 117 N2-1 appraisal well (drilled in October).

The well cut a 1,579m section within the Lower Kyalla Formation, in its horizontal section, which will be the focus of fracking in due course and a production test.

The Kyalla well will be followed by a well into the Velkerri liquids rich gas play, providing another important milestone in the venture – two further wells are slRead More – Source




In an interview with ET Now, Dabur India Director Mohit Burm..


The 147th Open championship will be at Carnoustie Golf Club in Scotland. Jan Kruger/R&A Golfers ..


Enlarge Oliver Morris/Getty Images) In response to an Ars re..


Enlarge/ You wouldn't really want to use Nvidia's ..