Askew James M. 4
4 · Gulf United Energy, Inc. · Filed Sep 2, 2010
Insider Transaction Report
Form 4
Gulf United Energy, Inc.GLFE.OB
Askew James M.
10% Owner
Transactions
- Gift
Common Stock
2010-03-30−4,000,000→ 31,003,000 total - Other
Common Stock
2010-07-13+14,000,000→ 45,003,000 total
Holdings
- 3,000,000(indirect: See footnote (2))
Common Stock
Footnotes (2)
- [F1]On July 13, 2010, the Issuer entered into a farmout agreement (the "Farmout Agreement"), pursuant to which it acquired the right to earn an undivided forty percent (40%) participation interest in Block Z-46, an approximately 2.8 million acre offshore block in Peru. The Company acquired the right to enter into the Farmout Agreement from the Reporting Person and other third parties (collectively the "Assignors") pursuant to an assignment agreement dated as of April 5, 2010 (the "Assignment"). In connection with the execution of the Assignment, the Company agreed to pay the Assignors a $1,680,000 fee by issuing to each of the Assignors 14,000,000 shares of the Company's common stock.
- [F2]Represents 3,000,000 shares held by members of the Reporting Person's immediate family sharing the same household. The Reporting Person may have a pecuniary interest in only a portion of such securities and disclaims beneficial ownership except to the extent thereof.