Falcon Oil & Gas (OTCMKTS:FOLGF) Trading 18% Higher – Here’s What Happened

Falcon Oil & Gas Ltd. (OTCMKTS:FOLGF)’s share price shot up 18% on Friday . The company traded as high as $0.2749 and last traded at $0.2650. 3,682,867 shares traded hands during mid-day trading, an increase of 498% from the average session volume of 615,474 shares. The stock had previously closed at $0.2246.

Falcon Oil & Gas Price Performance

The company has a 50-day simple moving average of $0.19 and a 200-day simple moving average of $0.16.

Falcon Oil & Gas Company Profile

Falcon Oil & Gas Limited is an independent oil and gas exploration and production company headquartered in Dublin, Ireland, and trading on the OTC Markets under the symbol FOLGF. The company is focused on identifying, acquiring and developing both conventional and unconventional hydrocarbon resources in Europe, with a primary emphasis on Central Europe.

The company’s principal assets include onshore exploration permits and production licenses in Hungary and Romania. In Hungary, Falcon holds interests in multiple blocks where it has conducted 2D and 3D seismic surveys and appraisal drilling to evaluate the potential of unconventional gas plays.