During the negotiation of this agreement, all major shareholders reviewed certain information pursuant to the terms of confidentiality agreements. The information provided to the investors was based on the Company's June 2012 DeGolyer and MacNaughton reserve report, material aspects of which were disclosed in a Company press release of August 8, 2012 and an 8-K of the same date, and reflect various Company forecasts about potential operating results based on assumptions regarding the amount and timing of capital infusions. These assumptions varied materially from the terms of the financing. Additionally the investors were provided Company projections associated with the Garden Island Bay intermediate level drilling program as described more fully on the Company's web site. Such projections showed the full potential of each project within the Company's portfolio of drilling opportunities without regard to risk, capital allocation or specific timing considerations.Operations Update
Dune Energy Announces Sale Of 18.8 Million Common Shares At $1.60 Per Share To Raise $30 Million Of New Equity Capital
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