>So if I read this correctly we traded 28% of Falcon Australia for $1.2 million. If it pans out someone got one hell of a deal -- and I don't think it was us.
I think you said once that you majored in photography or something like that. Well, I have no doubt it wasn’t in mathematics ;)
First off, look at the pre-fundraising Capital Structure of Falcon Oil & Gas Australia Pty Ltd.
Falcon Oil & Gas ..150 million shares = 75%
Petrohunter Energy 50 million shares = 25%
Total ......................200 million shares =100%
The private capital raising:
In the first tranche …..4,896,000 shares
In the second tranche 1,217,578 shares
Total ……………..……6,113,578 shares
The structure of Falcon Oil & Gas Australia Pty. Today:
Falcon Oil & Gas ..150 million shares = 72.77%
Petrohunter Energy 50 million shares = 24.26%
New investors…… .6.1 million shares = .2.97%
Total……………. 206.1 million shares = 100%
I’m quite pleased that Falcon has retained almost all of their original interest in Falcon Australia.
