A quick calculation for the $1.35 price target would put the market cap for Falcon at very close to $1 billion, and would be a 63% improvement in Burlingame and Soliter's average purchase price.

The market seems to value a trillion cubic feet of proven and flowing natural gas at close to one billion dollars - when looking at past sales of gas exploration companies.

Just a fun question, is your $1.35 valuation a "risked" valuation - somewhat comparable to Dolmen's current risked valuation of only 35 cents?

I believe, from looking at old charts on Falcon, that the stock hit close to that $1.35 level back when Exxon was drilling in Hungary and before Falcon owned the Beetaloo and Karoo properties?

A $1 Billion market cap would seem to be a very reasonable current valuation to put on Falcon - given that Falcon now controls the drilling rights to approx. 100 trillion cubic feet more gas than it did when Exxon was drilling in the Mako trough.