>I believe that in the interests of simplicity and business acumen, it would be in Falcon's favour to put their 100% leases on the table and be happy with an overall 33% interest in the whole basin.

If Exxon can prove up the JV area, the 100% owned land will become much more valuable in the future than it is right now.

>Believe it or not...simple works!!

Yes but it might not be as profitable in the long term.