Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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new,
thanks.
I don't think this press release has changed anything -- darnit, as we are just as likely to see the same selling going forward.
This Bankruptcy Estate of Petrohunter Energy just sounds like a formalized version of what has been going on for over two years now, and the court appointed receiver for Sweetpea/Petrohunter may now be able to clear that docket by handing the bankruptcy off to third party most likely comprised of the same bunch of lawyers that have been bleeding Sweetpea dry??
Sweetpea was/is a division of Petrohunter and as such was the first company to start the exploration drilling at the Shenandoah well site. When Falcon lent Sweetpea around $20 million (one of Bruner's inter-corporate shenanigans) as a minority participant in the Shenandoah well, it was under the condition that if the funds weren't repaid then Falcon became the majority shareholder. This eventually ended with Sweetpea/Petrohunter being diluted right out of the three permits in the Beetaloo and owning 10% of Falcon's shares -- which the receiver has been whittling down to 5% to pay off the lawyers.
James,
Other than the news release is as clear as mud, I view it as extremely positive. Some one knows more than the rest of us and their response is to scoop up approx. 50 million shares. Wonder what the sale price was?
POODS - Let me rephase - I hope this news release is positive. I see the sp is tracking lower this morning. Like everyone else, that's all I know. Now I sit back and wait...
Oilcountry99_
Only thing I can think of, but do not know the bankruptcy laws, is this is a step in the direction of what you mention as a possibility. While I do not see FOG buying the shares, I could see Origin buying them. Perhaps, another chatroom member knows the answer. It is possible POQ knows, but doubt Origin would let him know until done, as there is no advantage to stirring up the pot, so to speak. As has been said many a time, sit await. POODS
I don’t see how another company in bankruptcy holding our shares advances our cause. If it were a private investor or profitable co, I’d agree it’s good news. This is not, unless I’m missing something.
JamesL.
Why is this great news? POODS
I also received the following email this morning from Falcon. This is great news
"Dear Subscriber,
21 October 2020 - Falcon Oil & Gas Ltd. (TSXV: FO, AIM: FOG) (“Falcon”) has been informed that the Bankruptcy Estate of Petrohunter Energy Corporation is the beneficial owner of 48,101,000 common shares of Falcon (“Shares”), representing 4.90% of Falcon’s issued and outstanding Shares. Sweetpea Petroleum Pty Ltd. is no longer a beneficial owner of Falcon Shares.
The press release can be found on our main website homepage, under the Investor Centre section selecting Press Releases and Holdings in Company
Kind Regards,
Falcon Finance Team"
It does seem highly coincidental that Poods was just making enquiries about this and a couple of weeks later the shares are sold. If you were involved in some way, Poods, many thanks on behalf of every long-suffering shareholder!
I think Plods may have been successful in the efforts to find buyer for those shares. In any case good news. We should be getting 30 day flow rates in the few weeks.
Wow, finally they are being sold. I'd like to think there is a good reason for buying at this particular time, do they have access to some information on the Kyalla?
I wonder if this is a newly incorporated limited company (BEPHC)? Who are the directors? What's their intentions? etc etc
'21 October 2020 - Falcon Oil & Gas Ltd. (TSXV: FO, AIM: FOG) ("Falcon")
has been informed that the Bankruptcy Estate of Petrohunter Energy
Corporation is the beneficial owner of 48,101,000 common shares of
Falcon ("Shares"), representing 4.90% of Falcon's issued and outstanding
Shares. Sweetpea Petroleum Pty Ltd. is no longer a beneficial owner of
Falcon Shares. '
-