RE: In the meantime....???27 Aug 2020 18:06
No, Its actually about misleading press releases like this that make people not trust this management team. Less than a year later they gave up control of this play. Whether you agree with their present position or not past press releases have not been accurate, and that is being polite. At least they can pull a paycheck for another decade!
17 May 2019
Falcon Oil & Gas Ltd
Proposed Placing
Falcon Oil & Gas Ltd ("Falcon" or the "Company") (AIM: FOG, Euronext Growth: FAC, TSXV:
FO.V), the international oil and gas company engaged in the exploration and development of
unconventional oil and gas assets, is pleased to announce a proposed placing of new
Common Shares of the Company (the "Placing Shares") at a price of 14p per Placing Share
(the "Placing Price") in order to raise gross proceeds of up to US$10 million (c.£7.76 million)
(the "Placing") by way of a conditional placing of the Placing Shares with institutional
investors.
The net proceeds of the Placing will primarily be used to fund Falcon’s share of estimated
capital expenditure in respect of the drilling and hydraulic fracture stimulation of four
horizontal wells in the Beetaloo Sub-basin, Australia (further details of which are provided below.