>congratulations and keep up the great posts as we only need another 40 days like this to break even :)

Thanks Paul. As for how many days you’ll need to break even, that’s hard to tell. However, Falcon is active on many fronts, and events could unfold in a hurry, and dominoes just start to fall in place. You should remember the 2 weeks that led up to the Exxon JV agreement in April 10 2008; the SP marched up from the mid .30’s to over a dollar. One thing I know though, for the final domino to fall in place we need more than 2 weeks. I would say about 60 to 90 days.

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I like this part of yesterday’s article.

“Before you get too excited, though, there are a few more things to bear in mind. First, Falcon Oil and Gas and Royal Dutch Shell (NYSE: RDS-A) have already reportedly scooped the most desirable acreage in the basin.”

According to information I garnered, Falcon’s acreage is superior to Shell’s. In the Shell acreage, the gas bearing shale formation is covered by a 900 meter thick volcanic rock formation, which they must drill through before they can get to the pay zone. Not to mention that volcanic rocks do make seismic measurements less accurate. Anyway, the absence of these rocks in the Falcon leases makes it superior.