EDITOR: | July 19th, 2013

Sweetpea Petroleum Pty Ltd Acquires Common Shares of Falcon Oil & Gas Ltd.

| July 19, 2013 | No Comments
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July 19, 2013 — Denver, Colorado (Source: Marketwired) — Sweetpea Petroleum Pty Ltd. (“Sweetpea“) announces that pursuant to a share sale agreement whereby Sweetpea sold Falcon Oil & Gas Ltd. (“Falcon Canada“) 50 million shares or a 24.22% interest in Falcon Oil & Gas Australia Limited (the “Transaction“), Sweetpea has acquired ownership of 97,860,000 common shares (“Shares“) in the capital of Falcon Canada. The consideration for the Transaction included the Shares, issued for consideration equal to approximately $19.6 million, together with cash consideration of US$3 million.

The Shares were issued based on the accredited investor exemption. As a result of the Transaction Sweetpea owns 10.7% of the issued and outstanding Shares on an undiluted basis as of the date of this news release.

The Shares were acquired for investment purposes and Sweetpea may, depending on market and other conditions, increase or decrease its beneficial ownership of Shares whether in the open market, by privately negotiated agreement or otherwise. The Shares are subject to a contractual escrow for three years commencing on the July 17th, 2013 with Sweetpea permitted to sell 15% each year commencing on July 17th 2013.

Sweetpea is located at Suite 6, 170 Coonawarra Road, Winnellie, NT, 0820, Australia. A copy of the report relating to this acquisition can be obtained from Sweetpea’s counsel, Fay Matsukage at (303) 777-3737 or on Falcon Canada’s SEDAR profile at www.SEDAR.com.

The filing of this report is not an admission that an entity named in the report owns or controls any described securities or is a joint actor with another named entity.


Raj Shah

Editor:

Raj Shah has professional experience working for over a half a dozen years at financial firms such as Merrill Lynch and First Allied Securities Inc., ... <Read more about Raj Shah>


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