Falcon Oil & Gas Ltd. enters into a non-binding letter of intent to acquire an additional 25% working interest in the Beetaloo Basin Project
(TSXV Symbol: FO)
Under the terms of the LOI, the principal consideration being paid by Falcon for the Acquisition is the forgiveness of the
The closing of the Acquisition is subject to the execution of definitive agreements, the fulfillment of certain closing conditions, as well as the receipt of all required regulatory approvals. Closing of the Acquisition is expected to occur on or about
About Falcon Oil & Gas Ltd.
Falcon Oil & Gas Ltd. is a
About PetroHunter Energy Corporation
PetroHunter Energy Corporation, through the operations of its wholly-owned subsidiaries, PetroHunter Operating Company and Sweetpea Corporation Pty Ltd., is a global oil and gas exploration and production company with primary assets consisting of various oil and gas leases and related interests, including approximately 20,000 net mineral acres in
In the interests of providing Company shareholders and potential investors with information regarding the Company, including the Company’s assessment of its and its subsidiaries’ future plans and operations, certain statements included in this press release may constitute forward-looking information or forward looking statements (collectively, “forward-looking statements”). All statements contained herein that are not clearly historical in nature are forward-looking, and the words “anticipate”, “believe”, “expect”, “estimate” and similar expressions are generally intended to identify forward-looking statements. Similarly, forward-looking statements in this press release include, but are not limited to anticipated developments of the Company’s drilling project in
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SOURCE Falcon Oil & Gas Ltd.