Falcon is a global energy company with projects in Hungary, Australia & South Africa

Developing large acreage positions of unconventional and conventional oil and gas resources

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Message: why the panic

why the panic

posted on Mar 01, 2010 10:59PM

As far as we know, the well is drilled and Beetaloo is not a challenging environment. While this does not guarantee commercial flows, it makes it likely that testing the well will be far less costly than in Mako. Many are acting as if we need 50 million dollars to test the well. Zero chance it will not be tested. If cash is currently insufficient and PP poor, debt financing for such a small amount will be obtained. With MAB LLC and Bruner family trust owning 100 million shares of PHUN and ??? number of shares of Falcon---he and major shareholders will not let the future of the company waste away over a few million dollars. Of course the MAB and Falcon haters will disagree ----testing of the well is going to happen regardless of your theories although it could be months away. Relax---and Mako is not buried yet--although on life support. For those convinced of bankruptcy, I thankyou in advance for your shares. In one year we shall find out which of us is correct.Good luck to all regardlessof your analysis.

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