Falcon Oil & Gas Ltd.
Climate Impact & Sustainability Data (2022)
Reporting Period: 2022
Environmental Metrics
Climate Goals & Targets
Environmental Challenges
- COVID-19 pandemic impacting work programs and increasing costs.
- Delays in obtaining necessary approvals from government agencies.
- Aboriginal native title claims in Australia.
- Delays in South Africa due to technical regulations and fiscal terms.
- Uncertainty regarding government actions in Hungary.
- Potential for disputes with joint venture partners.
- Substantial capital requirements.
- Uncertainties in resource estimates.
- High-risk activities associated with oil and gas exploration and production.
- Market conditions and operational impediments hindering access to oil and gas markets.
- Shortages of rigs, equipment, supplies, and personnel.
- Complex laws and regulations, including environmental regulations.
- Uninsured and underinsured events.
- Hazards and risks associated with drilling, producing, and transporting oil and gas.
- Potential for environmental damage and liabilities.
- Climate change uncertainties and environmental regulations.
- Volatility in oil and gas prices.
- Political instability in operating jurisdictions.
- Potential for resource nationalization or restrictions on foreign-owned entities.
Mitigation Strategies
- Worked with NT government to understand moratorium policy and fully cooperated with the inquiry panel.
- Adherence to all applicable laws and regulations.
- Strategic arrangements with other oil and gas exploration companies to ensure skills and knowledge are available.
- Maintaining insurance against various losses and liabilities.
- Participation optionality in future drilling activities.
- Equity raise of US$10 million in 2022.
- Management's confidence in raising further funding.