Falcon is a global energy company with projects in Hungary, Australia & South Africa

Developing large acreage positions of unconventional and conventional oil and gas resources

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Message: Falcon Oil & Gas Ltd. announces amendment to terms of PetroHunter transactions..

extending the maturity date from January 30, 2009 to April 30, 2009 and changes the pledge portion of thesecurity associated with the bridge loan from a pledge of US$7.5 million worth of the convertible securities issued to PetroHunter in connection with the Beetaloo Basin transaction (the "Convertible Securities") to a pledge of
14,500,000
.

To double the facility and increase the bridge loan by three months is the part I found interesting as it tallies with the future expected share price forecast by the company. Is this confidence or gaining time ?





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