2009-08-16-2008-10-01-2008-10-01

Transaction Type
Sellers
Buyers
Announce Date
Post Date
Close Date
Estimated Price
$38.0MM
Description

Acquired additional interest in co., raising stake to 16.11%.

Swiss energy and gas company Avelar Energy Group, Zurich, has acquired additional interest in Falcon Oil & Gas Ltd., Denver, (Toronto Venture: FO) for approximately C$38 million, bringing its stake to 16.11%. Avelar acquired 44,904,977 shares of Falcon, representing 7.94% of the outstanding shares, in a private transaction. Avelar chief executive Igor Akhmerov says, "We have fundamental belief that the management team of Falcon, together with Exxon and MOL, will bring the company to successful exploration results. Our investment in Falcon is strategic and long-term." Falcon has operations in Hungary through subsidiary TXM Oil and Gas Exploration LLC and in Romania through JVX Energy Corp.