Agoracom: Small Cap Investment - Falcon Oil and Gas Ltd. - Re: PHUN update re Buckskin Testing

pipedreimr

Jan 30, 2009 06:36AM

birdgirl

Jan 30, 2009 07:10AM

falcon4

Jan 30, 2009 07:57AM

Jan 30, 2009 11:09AM

notes6

Jan 30, 2009 11:17AM

Jan 30, 2009 11:39AM

notes6

Jan 30, 2009 12:07PM

roberto

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Re: PHUN update re Buckskin Testing - Lanman

in response to

notes6

posted on Jan 30, 2009 12:28PM

my understanding is that Petrohunter pledged 14.5m shares as collateral for the bridge loan. It should follow that if Petro do not pay it back, these shares go back to Falcon. Falcon would have pi--ed away $5.0m(bridge loan). In addition Falcon could elect to become operator of the Beetalo project at no charge.

Petro is very vulnerable now. I wonder if Falcon was only interested in the Beetalo Basin only, but to get at it, they had to accept the Buckskin? The Buckskin results look bad and hopefully Falcon will walk away.

The agreement with Petro is complicated and Falcon should have an opportunity(soon) to re-structure it.............all to Falcon's favour. With any luck Petro may disappear!

1 Recommendations

Jan 30, 2009 02:09PM

Jan 31, 2009 01:28PM