>The company was willing to sell its own shares at 21.5c.

Let's see now. First of all, this was a private placement intended to raise U$25 million. The lower the price, the more shares you get for your buck, consequently the larger piece of the pie. Out of the 120 million shares up for grabs 40 million shares going to the Board of Directors directly or indirectly, the other 80 million goes the the MM's.

Hence the price walk down.

The lure of 200 trillion cubicfeet of gas and 21 billion barrels of oil will do the trick.

Falcon's present value still is $2.35.