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Falcon Oil & Gas offers to purchase additional shares in Australian subsidiary


Published Jul 25, 2013
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Falcon Oil & Gas

Falcon Oil & Gas Ltd. has offered to purchase shares from certain of the remaining shareholders in Falcon Oil & Gas Australia Ltd. (FOGA).

FOGA is a subsidiary of Falcon and is the registered holder of four exploration permits in the Beetaloo Basin, Northern Territory, Australia. After the recent Acquisition of Sweetpea Petroleum Pty Ltd's (Sweetpea) 24.2% holding, Falcon owns 200 million shares in FOGA, representing 96.9% of the issued share capital of FOGA.

The offer comprises of 2.25 common shares in Falcon for every one FOGA ordinary share held. This offer is valid until 22nd August 2013. The valuation used in this offer is the same as used in the recently completed acquisition of Sweetpea's 24.2% holding in FOGA.

Tags: Falcon Oil & Gas



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