Re: Beetaloo News (FO Version)

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

Reply New Message

Prev Message Back To Forum Threaded View Next Message

BrunerFan

Rank: Treasurer [?]

Points: 660 [?]

Votes: 16 Score: 3.8 [?]

Your Vote:

Please Log In to Vote

Did you know? You can earn activity points by filling your profile with information about yourself (what city you live in, your favorite team, blogs etc.)

Re: Beetaloo News (FO Version)

in response to

Beetaloo News (FO Version)

ph2

posted on Apr 28, 2009 05:03AM

Okay - that takes care of the $5 million (and 10% interest?) due April 30, 2009. What about the other $1.7 million they "reallocated" away from us?

Falcon and PetroHunter have agreed to reallocate the US$7 million of completion capital that Falcon deposited into an escrow account for a testing and completion program on up to five wells within the Buckskin Mesa Project. US$5.3 million will be used for the testing and completion program, which was commenced in November, 2008, and the remaining US$1.7 million will be advanced directly to an unrelated third party creditor of PetroHunter who is due payment for obligations related to the Buckskin Mesa Project.