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: The most important question---Sharehold... Meeting 30 Sept.

O'Quigley recently stated that the slide included below is the most important component/slide of his presentation, yet he was quite vague as to the status of value per acre (Granted, this was pre-Hess departure) So, if attending the Sept 30 meeting one should hold up this slide and ask......where are we for Aussie? Are we between Trends and Undeveloped or are we at Undeveloped: Seismic, Some Testing, and Shows of Oil and Gas---conventional and unconventional along with new info on conventional oil? What is the estimated per acre value given the Hess seismic data. You see, he also stated in the same presentation that Falcon would not be around for Production and he implied that they may not be around for Appraisal. Personally I'm fine with either scenerio. If we are at $844/acre that is a value of $5,908,000,000.00 or just at $6.50/share (I'm sure I'm not the first to run this number) with no enterprise or good will exponential considered. Given Craven's history I say they play (sale) at Undeveloped----that's big money to the Falcon Team........they move on to South Africa for another similar play. They are very honest that they do not want to be in the production business. This might be ahead of the curve but given the move to have total control of the EPs and acreage I think we should be ready for a sale of the Aussie play sooner rather than later-----at least I hope so.

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