How can this be when the only shareholders announced to date are PHUN and FO and payment will be a brokerage fee as a percentage of funds raised?

Per the "MPS Investment Briefing":

Disclosure

•

David Sutton, Consultant at Martin Place Securities, is also a non-executive director of Sweatpea Petroleum Pty Ltd, which is a wholly-owned subsidiary of US listed Petrohunter Energy Corporation, a majority shareholder of Falcon Oil & Gas Australia Pty Ltd. David Sutton holds shares in Falcon Oil & Gas Australia and will earn brokerage on capital raising through Martin Place Securities.

Capital Structure of

Falcon Oil & Gas Australia Pty Ltd

ACN 132 857 008

Pre-Capital Raising (at $1.00 US per share)

Falcon Oil & Gas 150 million shares

Petrohunter Energy 50 million shares

Market Cap ($m US) 200

Post-Capital Raising (at $1.00 US per share)

Falcon Oil & Gas 150 million shares

Petrohunter Energy 50 million shares

New Shareholders (Min) 50 million shares

Min Market Cap ($m US) 250

Per the "Offer Memorandum":

MPS's costs associated with the Offer will be borne by the Company. In addition, MPS is entitled to a brokerage fee (payable by the Company) comprising 6.5% on funds raised from the Offer (plus GST where applicable) together with a number of Options (on the same terms as those issued to Investors) calculated as being 6.5% of the number of Shares issued under the Offer.