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. enters into binding agreement to acquire an additional 25%

The full agreement is available from Petrohunter, nothing of particular interest that I can see except for this part:



Covenants of PetroHunter Parties
The PetroHunter Parties hereby covenant and agree that, except as expressly contemplated by this Agreement and the other elements of the Transaction, until the earlier of five days prior to the Closing Date and the day upon which this Agreement is terminated (unless otherwise indicated in the covenant), the PetroHunter Parties, in a timely and expeditious manner, shall:

(f) Accept, support and vote in favour of such work plans and budgets as Falcon may propose under the Beetaloo Basin JOA for the remainder of 2009, but only to the extent such work programs and budgets are intended by Falcon in good faith to satisfy the minimum work requirements under the Permits in a manner that Falcon believes to be commercially and technically reasonable, and with the understanding that Falcon’s present intention is to limit the capital expenditures in the work plan and budget for 2010 to the minimum believed necessary to keep the Permits in full force and effect


http://www.sec.gov/Archives/edgar/da...

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