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: Updated Ryder Scott Report Increases Oil-In-Place Best Estimates...

Investors are awaiting testing results and jv announcements---neither of which are on the timetable most of us wish. The revised estimates are positive---would you be thrilled if they were reduced 50 percent? As to hungary the resource has no real value at present--but it is foolish to assume that such a resource will be abandoned because Exxon had a failed well---they fail on 40 percent of their wells. The Mako trough is a far more challenging basin than Beetaloo---but remember that at present there are no european commercially successful bcga. The continent is in its infancy with bcga. You may be right that folgf will not be the profitable vehicle in Mako---but I believe it is foolish to think the Mako is a closed story. Falcons value will take many months if not years to determine accurately---if you can wait no longer good luck on your new venture.

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