f8k-phun_061109.htm
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of
Report (Date of earliest event reported): June 11, 2009
PETROHUNTER
ENERGY CORPORATION
(Exact
name of registrant as specified in its charter)
|
Maryland
(State
or other jurisdiction of
incorporation)
|
000-51152
(Commission
File
Number)
|
98-0431245
(IRS
Employer
Identification
No.)
|
1600
Stout Street, Suite 2000, Denver, Colorado 80202
(Address
of principal executive
offices) (Zip
Code)
(303)
572-8900
Registrant’s
telephone number, including area code
Not
applicable
(Former
name or former address, if changed since last report)
Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions (see General Instruction A.2. below):
¨ Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
¨ Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
¨ Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
¨ Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
|
Item
2.01
|
Completion
of Acquisition or Disposition of
Assets
|
On June
11, 2009, the registrant and its wholly-owned subsidiary (collectively
“PetroHunter”) closed on the sale of an undivided 25% working interest in its
four exploration permits comprising approximately seven million acres in the
Beetaloo Basin of the Northern Territory, Australia, to Falcon Oil & Gas
Ltd. and its subsidiaries. Falcon now has a 75% working interest in
the Beetaloo Basin project and is the operator. PetroHunter retains
an undivided 25% working interest.
Falcon
relieved PetroHunter from the $5 million loan made by Falcon to PetroHunter in
October 2008, and a release of the collateral that secured that loan; assumed
PetroHunter payables related to the Beetaloo Basin project in the amount of
AUD$1.5 million (approximately US$1.18 million); reassigned Falcon’s 25% working
interest in five wells located in PetroHunter’s Buckskin Mesa project in the
Piceance Basin in Rio Blanco County, Colorado, back to PetroHunter; and assigned
its rights to approximately $855,000 of completion capital remaining from the
Buckskin Mesa project back to PetroHunter. In addition to
transferring the additional 25% working interest, PetroHunter assigned to Falcon
its Beetaloo project inventory and its operator cash bonds, and indemnified
Falcon against claims and liabilities relating to plugging, abandonment and site
reclamation costs for the five Buckskin Mesa wells.
Marc A.
Bruner, the Chairman, CEO and President of Falcon, is the founder and largest
shareholder of PetroHunter. Falcon advised PetroHunter that a
committee of the independent directors of Falcon governed the negotiation and
entering into of the definitive agreement pertaining to this
transaction. Carmen J. Lotito, a director of PetroHunter, is a
director of Falcon Oil & Gas Australia Pty Ltd, Falcon’s subsidiary that
owns the 75% working interest. PetroHunter advised Falcon that Mr.
Lotito abstained from voting when PetroHunter’s board of directors voted to
approve the definitive agreement.
Item
9.01 Financial
Statements and Exhibits
|
Regulation
S-K
Number
|
Document
|
| |
|
|
99.1
|
News
Release dated June 17, 2009
|
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
|
|
PETROHUNTER
ENERGY CORPORATION
|
|
June
17, 2009
|
By: /s/
Martin B.
Oring
Martin
B. Oring
Chief Executive Officer
|
|
|
|
2
EXHIBIT
INDEX
|
Regulation
S-K
Number
|
Document
|
| |
|
|
99.1
|
News
Release dated June 17, 2009
|
3