The good news from half-year results for Falcon Oil & Gas (FOG) was that the net cash position remains robust, with $11.1m on the balance sheet. But investors are clearly nervous about the fate of the company's assets in the Beetaloo Basin, and sold off shares on a lack of news beyond management comments that operations are "progressing as planned".
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The big concern is what will happen following this weekend's general elections in Australia's Northern Territory, where Beetaloo is located. Though the state passed recently laws permitting fracking last month, the victory of the Australian Labor party's Michael Gunner could see a moratorium on drilling.
