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: Keith Schaefer part 2

Hi Mo!

As you wrote " The situation is similar the one we experienced when partnership with ExxonMobil announced and the SP jumped to $1.4 from 40 GLTA"

This remind me the 2005-2007 situation in Hungary. Falcon drilled 6 deep wells, for natural gas, what supposed to be there, in South Hungary (5000-6000 meters deep) before the Exxon deal came up. These wells were very expensive 50-60 million $ at that time, without any "positive outcome" (in the end they could not come up with the gas as they hoped for)

Other reputable agencies like Gustavson said at that time, what looked like a very positive opinion about the Mako natural gas field.

"02/06/2006 Falcon says that John Gustavson of Boulder, Colo.-based Gustavson Associates Inc. assigned a potential resource of 796 million bbl of oil and 17.5 tcf of gas to two key Miocene formations within the Makó Trough: Szolnok and Endrod."

At that time (2005-2007) Falcon's shares were trading tens of millions a day, the price of $05-$7.00, way before the Exxon Deal!

As we know right now, Hungary is dead, after Exxon left. Australia, the next what promisies some hope for the shareholders of 13000+, to regaine their loss, and their hope in this company! South Africa is still too far in time to deal with it. The outcome depend of the political situation, what you can not control, and could changed in a heartbit for the negative, You can not controll a nation attitude for their laws for natural resources. It could change any time, and you can be on the wrong side of the scale without any remedy for your money what you invested in.

I am the gay who was in this game, going back to 10 years, hoping Hungary will come true, but it did not! I am still in it, and hope something will work out in Australia, maybe in South Africa in the late future!


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