Re: Standard & Poor's Initiates Factual Stock Report Coverage on Falcon Oil & Gas
posted on
Apr 23, 2009 12:20PM
Developing large acreage positions of unconventional and conventional oil and gas resources
> I would think that the 40 number is closer than 11. Your thoughts?
Falcon said they had 11 employees in April 2008 (as well as in 2007). 2007 was their busy year. In Sept 2008 they said this:
"Payroll and related costs decreased $272,000 to $747,000 in 2008 from $1,019,000 in 2007. The decrease was attributable to the cost containment measures implemented in the fourth quarter of 2007, and reduction in activities as the Company changed its focus in Hungary from an initial resource delineation phase to a resource evaluation phase."
I think the 40 number is wrong, and they probably still have a dozen or so. I'd rather just wait until next week instead of trying to speculate anymore on it.