Business
Falcon Oil & Gas Ltd. announces fulfillment of Beetaloo Basin transaction closing condition
(TSXV Symbol: FO) DENVER, Sept. 22 /CNW/ - Falcon Oil & Gas Ltd. (TSXV: FO) ("Falcon" or the "Com...
About this update from Falcon Oil & Gas Ltd.
[{"type":"text","content":"\n\n\n\n(TSXV Symbol: FO)\n\n\nDENVER, Sept. 22 /CNW/ - Falcon Oil & Gas Ltd. (TSXV: FO) ("Falcon" or\nthe "Company") today announced that the Company has been advised by the\nAustralian Foreign Investment Review Board that they have no objection to the\nCompany's acquisition of a 50% working interest in PetroHunter Energy\nCorporation's ("PetroHunter") 7 million acre prospect in Northern Territory,\nAustralia (the "Beetaloo Basin").\n\n\nReceipt of this confirmation means that the key third party condition to\ncompletion of the Beetaloo Basin transaction announced on August 25, 2008 has\nbeen fulfilled. As a result, the Company and PetroHunter can move towards the\nclosing of the Beetaloo Basin transaction subject only to the fulfillment or\nwaiver of closing conditions common for transactions of this nature.\n\n\nAbout Falcon Oil & Gas Ltd.\n\n\nFalcon Oil & Gas Ltd. is a British Columbia corporation in the business\nof oil and gas exploration and production. It has operations in Hungary\nthrough its wholly owned subsidiary TXM Oil and Gas Exploration, LLC, and in\nRomania through its wholly owned subsidiary JVX Energy Corporation. Further\ninformation about Falcon is available at www.falconoilandgas.com.\n\n\nIn the interests of providing Company shareholders and potential\ninvestors with information regarding the Company, including the Company's\nassessment of its and its subsidiaries' future plans and operations, certain\nstatements included in this press release may constitute forward-looking\ninformation or forward looking statements (collectively, "forward-looking\nstatements"). All statements contained herein that are not clearly historical\nin nature are forward-looking, and the words "anticipate", "believe",\n"expect", "estimate" and similar expressions are generally intended to\nidentify forward-looking statements. Similarly, forward-looking statements in\nthis press release include, but are not limited to anticipated developments of\nthe Company's drilling project in Hungary and the timing thereof, the\nCompany's drilling project in Romania and the timing thereof, capital\ninvestment levels and the allocation thereof, pipeline capacity, government\nroyalty rates, reserve and resources estimates, the level of expendi...