Mike,
Guess you've seen this, but, on the off chance....
nice pricing, a LOT of interest that won't get to participate.
Nice chunk of change to keep things moving 'til Mcquarie
financing is finalized. I expect to see more rigs soon.
April is still possible for TD on Mako6. Think they'll be moving the small rig for the second step out shortly.
Things are looking very good.
Lew
PS, Dr. Ben is saying OVER 200TCFs, gggggg.
09:46 EST Monday, March 06, 2006
(TSXV Symbol: FO)
- NOT FOR RELEASE IN THE UNITED STATES -
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. Any public offering of securities to be made in the United States will be made by means of a prospectus that may be obtained from the issuer or the selling securityholder and that will contain detailed information about the company and management, as well as financial statements.
VANCOUVER, March 6 /CNW/ - Falcon Oil & Gas Ltd. (TSXV: FO) announced today that, further to its news release dated February 17, 2006 relating to the public offering of its common shares, that it intends to issue up to 69,300,000 common shares at a price of $1.30 per share for gross proceeds of up to $90,090,000 pursuant to an offering (the "Offering") through a syndicate of agents led by MGI Securities Inc. and including Knight Capital Markets LLC, Dundee Securities Corporation, Bridgewell Securities Limited, Mirabaud Securities Limited and Sanders Morris Harris Inc. (collectively, the "Agents").
The Agents have been also granted an over-allotment option (the "Over-Allotment Option") for a period of 30 days following the closing of the Offering to arrange for the sale of up to an additional 7,700,000 common shares at an issue price of $1.30 per share, which, if exercised in full, will provide Falcon with up to an additional $10,010,000.
The Company intends to use the net proceeds of the Offering, including the Over-Allotment Option, for the exploration and development of the Company's projects in Hungary and Romania, and for general corporate and working capital purposes.
The Offering is scheduled to close on or about March 10, 2006, and is subject to certain conditions including, but not limited to, receipt of all necessary approvals, including the approval of the TSX Venture Exchange and Canadian securities regulatory authorities.
About Falcon Oil & Gas Ltd.
Falcon Oil & Gas Ltd. is a British Columbia corporation which is in the business of oil and gas exploration and production. It has operations in Hungary through its wholly-owned subsidiary TXM Oil and Gas Exploration, and in Romania through its wholly-owned subsidiary JVX Energy Corporation. Further information about Falcon Oil & Gas Ltd. is available at www.falconoilandgas.com.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release. The TSX
Venture Exchange has in no way passed upon the merits of the above-
described transaction and has neither approved nor disapproved the
contents of this press release.
For further information: Falcon Oil & Gas Ltd. - Marc A. Bruner President, CEO and Chairman; Allan D. Laird, Director, (303) 803-3646; United States: CTA Public Relations - Bevo Beaven, Vice President/General Manager, (303) 665-4200; United Kingdom: 4C Burvale - Carina Corbett, John Carrick Smith, Directors, 020-7907 4760, 4761 |
