petrohunter energy corp (PHUN) Key Developments
PetroHunter Energy Corporation announced delayed annual 10-K filing
Dec 28 12
On 12/28/2012, PetroHunter Energy Corporation announced that they will be unable to file their next 10-K by the deadline required by the SEC.
Petrohunter Energy Corporation Receives Confirmation That Exploration Permits 136 and 143
Sep 11 12
On August 28, 2012, PetroHunter Energy Corporation and its wholly-owned subsidiary, Sweetpea Petroleum Pty Ltd, received confirmation that Exploration Permits 136 and 143 (EPs 136 and 143) had been granted by and formally lodged with the Northern Territory of Australia. EPs 136 and 143 cover approximately 1.5 million acres in the Beetaloo Basin. The company has entered into a joint venture and operating agreement with Paltar Petroleum Limited pursuant to which Paltar agreed to provide all of the necessary funding for the permits and the initial work program expenses required under EPs136 and 143 in exchange for a 50% ownership interest in the EPs. Paltar is controlled by Marc Bruner, a significant shareholder of the company. EPs 136 and 143 are adjacent to EPs 76, 99, and 117, which are currently owned by Falcon Oil & Gas Australia Limited. The company owns an approximate 24% ownership interest in Falcon Australia and Falcon Oil & Gas Ltd. owns approximately 73% of Falcon Australia. As announced earlier by Falcon, Hess Australia (Beetaloo) Pty Limited, which entered into a Beetaloo Basin Evaluation and Participation Agreement with Falcon Australia in April 2011 with respect to EPs 76, 98 and 117, commenced the 2D seismic program on the properties, thus far completing approximately 1,200km of the targeted 3,600km, and increased its capital expenditure on the 2D seismic program from $40 million to an anticipated $57 million. The seismic program is expected to be completed by the end of 2012. Falcon Australia is fully carried on the seismic program.
PetroHunter Energy Corporation Deleted From OTCBB
Jul 23 12
PetroHunter Energy Corporation’s common stock has been deleted from OTCBB, effective July 23, 2012, due to ineligible for quotation on OTCBB due to quoting inactivity under SEC Rule 15c2-11.
PetroHunter Energy Corporation Auditor Raises 'Going Concern' Doubt
Dec 29 11
PetroHunter Energy Corporation filed its 10-K on Dec 29, 2011 for the period ending Sep 30, 2011. In this report its auditor, Eide Bailly, LLP, gave an unqualified opinion expressing doubt that the company can continue as a going concern.