Yes, the subject line is correctly labeled. As it turns out, researchers and other stakeholders are drilling in the Karoo, vertically of course. The first project has already completed one subproject with more subprojects regarding core analysis to follow. Follow link: www.karooshalegas.org

However, most of the core analysis of these subprojects (Project 1) is east of Falcon's TCP and centrally located in Shell's TCP. But, they are focusing on the Lower Ecca group in the WhiteHill formation. If you’re wondering how that pertains to Falcon, just look for yourself: http://www.petroleumagencysa.com/files/PetPotKaroo%20Basins3w.pdf

Falcon's TCP lies entirely in this zone. The reason these researchers are focusing on this zone is because it has the highest concentration of quartz. "The predominance of quartz indicates high brittleness of the shale which is crucial for controlled hydraulic fracturing and successful extraction."

Overall, Australia has the eye of many investors on this board but South Africa may offer some real long term value. Hopefully, Hess can win its fight with Elliot. Elliot's approach of stock performance based pay never works out well for a company in the long run. If you think Hess is lying about dismantling the company for short term stock performance you might want to read up on Al "Chainsaw" Dunlap.