After being interested in Falcon's activities for the last 3 years and believing in the Mako project, I have come to a regretful conclusion that Falcon will not be the company to reap the rewards of their past efforts in Hungary. This is my own assessment while I appreciate that others still believe that this company will be a success.

In my opinion, there have been so many mistakes done and the company has always managed to get out of trouble each time. Maybe they will again but I think this time there are too many variables against them. The management has not been smart and overestimated Exxon's hand in this play.

• The whole recent episode of looking for another partner while they were unhappy with Exxon's slow pace was done solely on the fact that they had a solid partner. Even with that they did not succeed in this blackmail strategy. Not to mention that this must have infuriated Exxon.
• The whole Foldeak episode was mishandled and forcing Exxon's hand into a third frac did not go down well with the big boys. I do not believe therefore that Exxon will want to be associated with Falcon in the future.
• Early 2008, The fund raising of 40mill was done successfully with institutionals who have definitely lost faith in this management as this was the last straw.
• Falcon does not have enough cash left to complete any project on its own and will now try another fund raising programme. I cannot see institutionals fall in the trap one more time after having done so expensively with this company and not to mention Petrohunter as well.
• The recent resignation of Fisher is not a positive sign from a director who would have been responsible of the financial dealings of the company. The same saga has happened with Petrohunter directors if one looks back.
• The annoucements of the South africa property and plans for Australia and the recent campaign of Dr. Szabo are recent distractions to hold up the SP. THere is simply not enough cash left.

There is much more to reflect upon and all have affected my thinking in deciding to take a loss and move on. Maybe I will re-assess next year because I do believe in Mako but not Falcon anymore.

I wish to stress that I do not want to be associated with bashing as other well known posters as they did have a different biased agenda. This is simply my pragmatic conclusion.

Anyways ladies and gents, I wish you all luck and hope your patience will be rewarded but in my case I have reached my limit on how much I can keep hoping. Congrats however to the quality of material from this board and in particular John S for making it happen. As appointed president, I leave my place to however will wish to carry the flag.

Best of luck to all and Merry Xmas.