TIDMFOG
Falcon Oil & Gas Ltd.
("Falcon" or "Company")
Appointment of Non-executive Chairman
13 September 2021 - Falcon Oil & Gas Ltd. (TSXV: FO, AIM:
FOG) is pleased to announce the appointment of Joe Nally as
Non-executive Chairman and to the Board of the Company, with
immediate effect, replacing Joachim Conrad who will remain on the
Board as a Non-executive Director.
Mr Nally has over 45 years' experience in London's capital
markets including 18 years at Cenkos Securities PLC, a firm he
co-founded in 2004. Mr Nally was an Executive Director and Head of
Natural Resources at Cenkos, where he helped to build, develop and
give strategic advice to a number of successful companies in the
oil and gas sector. Prior to this, Mr Nally was a partner and
director at Williams de Broe and an individual member of the
International Stock Exchange of London.
Philip O'Quigley, Falcon's CEO said:
"We are delighted to welcome Joe onto the board of Falcon as
Non-executive Chairman. Joe's strategic insight and vision gained
from his extensive experience in oil and gas in the UK and North
American markets will be a huge asset to the Company. I look
forward to working with Joe as we enter the next stage of
development following the exciting Amungee NW-1H test results
announced on 3 September 2021. I would like to sincerely thank
Joachim Conrad for his stewardship of the Company as Chairman since
2015 and I am delighted that he will remain on the board as a
Non-executive Director."
Joe Nally, Non-executive Chairman said:
"I am delighted to be joining the Board of Falcon at this
exciting time with the recent significant development providing a
line of sight to gas commercialisation of the Beetaloo in the
Northern Territory, Australia."
The Company provides the following disclosures in accordance
with Schedule 2(g) of the AIM Rules for Companies.
Regulatory Disclosures
Full name (age)
-- John Joseph (Joe) Nally (69)
Current directorships:
-- Southern Energy Corp.
-- Tennyson Court Limited
-- Waverton Property LLP
Previous directorships / partnerships (in the last five
years):
-- Cenkos Securities PLC
There are no further disclosures pursuant to Schedule 2(g) of
the AIM Rules for Companies to be made in respect of Mr Nally's
appointment.
Granting of stock options
Following Mr. Nally's formal appointment by the Board on 10
September 2021, the Company granted Mr. Nally share options
("Options") to purchase an aggregate of 3,000,000 common shares of
Falcon at an exercise price of GBPGBP0.10 under the stock option
plan approved at Falcon's annual shareholders meeting held on 10
December 2020.
The Options have a vesting schedule allowing for 1/3 of the
Options to vest immediately with an additional 1/3 vesting on each
subsequent anniversary until the Options are fully vested on 10
September 2023. The Options have an expiry date of 9 September
2026.
After this grant, there are 47,000,000 Options outstanding,
representing 4.79% of the issued and outstanding common shares of
Falcon.
Appointment of Communication Advisor
Falcon is also pleased to announce the appointment of Capital
Market Communications Ltd ("Camarco") as communications advisor.
Camarco is a communications firm based in London that provides
investor relations and corporate communications services. It does
not have any direct or indirect interest in Falcon or its
securities. The fee payable to Camarco is GBPGBP6,000 per month,
until terminated by either party in accordance with the terms of
the engagement. The appointment of Camarco is subject to TSXV
approval.
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
Camarco
James Crothers / Rebecca Waterworth
/ Billy Clegg +44 (0)20 3781 8331
The information below is disclosed in accordance with Article 19
of the EU Market Abuse Regulation.
Details of the person discharging
managerial responsibilities/person
1 closely associated
--- ------------------------------------ ------------------------------------------
a) Name Joe Nally
--- ------------------------------------ ------------------------------------------
2 Reason for notification
--- ------------------------------------ ------------------------------------------
a) Position/Status Non- Executive Chairman
--- ------------------------------------ ------------------------------------------
b) Initial notification/Amendment Initial Notification
--- ------------------------------------ ------------------------------------------
Details of the issuer, emission
allowance market participant,
auction platform, auctioneer
3 or auction monitor
--- ------------------------------------ ------------------------------------------
a) Name Falcon Oil & Gas Ltd.
--- ------------------------------------ ------------------------------------------
b) LEI 213800KQY87Z1KNPIM76
--- ------------------------------------ ------------------------------------------
Details of the transaction(s):
section to be repeated for
(i) each type of instrument;
(ii) each type of transaction;
(iii) each date; and (iv)
each place where transactions
4 have been conducted
--- ------------------------------------ ------------------------------------------
Description of the financial Options in respect of common shares
instrument, type of instrument in the Company
a) Identification code CA3060711015
--- ------------------------------------ ------------------------------------------
Award of Options in respect of
b) Nature of the transaction common shares in the Company
--- ------------------------------------ ------------------------------------------
c) Price(s) and volume(s) Date Price(s) Volume(s)
--------------- ------------- ----------
10 September
2021 GBPGBP0.10 3,000,000
--------------- ------------------------------------------------------ ----------
d) Aggregated information
-- Aggregated volume N/A
N/A
-- Price
--- ------------------------------------ ------------------------------------------
e) Date of the transaction 10 September 2021
--- ------------------------------------ ------------------------------------------
f) Place of the transaction Outside an exchange
--- ------------------------------------ ------------------------------------------
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.
Falcon Oil & Gas Australia Limited is a c. 98% subsidiary of
Falcon Oil & Gas Ltd. Falcon Oil & Gas Australia Limited
and a wholly-owned subsidiary of Origin Energy Limited (ASX: ORG)
("Origin") are joint venture partners in respect of the Beetaloo
project.
For further information on Falcon Oil & Gas Ltd. please
visit www.falconoilandgas.com
Advisory regarding forward looking statements
Certain information in this press release may constitute
forward-looking information. Any statements that are contained in
this news release that are not statements of historical fact may be
deemed to be forward-looking information. Forward-looking
information typically contains statements with words such as "may",
"will", "should", "expect", "intend", "plan", "anticipate",
"believe", "estimate", "projects", "dependent", "potential",
"scheduled", "forecast", "outlook", "budget", "hope", "support" or
the negative of those terms or similar words suggesting future
outcomes. In particular, forward-looking information in this press
release includes, but is not limited to, information relating to
the 2021 work programme, Amungee NW-1H test results and the
prospect of the exploration programme being brought to
commerciality. This information is based on current expectations
that are subject to significant risks and uncertainties that are
difficult to predict. The risks, assumptions and other factors that
could influence actual results include risks associated with
fluctuations in market prices for shale gas; risks related to the
exploration, development and production of shale gas reserves;
general economic, market and business conditions; substantial
capital requirements; uncertainties inherent in estimating
quantities of reserves and resources; extent of, and cost of
compliance with, government laws and regulations and the effect of
changes in such laws and regulations; the need to obtain regulatory
approvals before development commences; environmental risks and
hazards and the cost of compliance with environmental regulations;
aboriginal claims; inherent risks and hazards with operations such
as mechanical or pipe failure, cratering and other dangerous
conditions; potential cost overruns, drilling wells is speculative,
often involving significant costs that may be more than estimated
and may not result in any discoveries; variations in foreign
exchange rates; competition for capital, equipment, new leases,
pipeline capacity and skilled personnel; the failure of the holder
of licenses, leases and permits to meet requirements of such;
changes in
royalty regimes; failure to accurately estimate abandonment and
reclamation costs; inaccurate estimates and assumptions by
management and their joint venture partners; effectiveness of
internal controls; the potential lack of available drilling
equipment; failure to obtain or keep key personnel; title
deficiencies; geo-political risks; and risk of litigation.
Readers are cautioned that the foregoing list of important
factors is not exhaustive and that these factors and risks 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, including under "Risk
Factors" in the Annual Information Form.
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
September 13, 2021 02:00 ET (06:00 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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