I could have predicted in advence the arrival of Boo-birds also known as the Backroomroom Boy's minions. They will try to convince you that the precious stone in your hand is nothing but a piece of black coal.

Mr. Philip O'Quigley reports

FALCON OIL & GAS LTD. - AMUNGEE NW-1H - NORMALISED GAS FLOW RATE EQUIVALENT TO 5 MMSCF/D PER 1,000M HORIZONTAL

Falcon Oil & Gas Ltd. has provided results of the production log test at the Amungee NW-1H well. The results suggest a normalized gas flow rate equivalent of between 5.2 million to 5.8 million standard cubic feet per day per 1,000 metres of horizontal section.

Amungee is located in the Beetaloo subbasin, Northern Territory, Australia, and the testing conducted is part of the 2021 work program, which is operated by Falcon's joint venture partner, Origin Energy B2 Pty. Ltd., a wholly owned subsidiary of Origin Energy Ltd.

Amungee background:

• It is located in exploration permit 98, approximately 60 kilometres east of Daly Waters, just south of the Carpentaria Highway.
• It was the first horizontal well to be drilled and first well to be fracked with Falcon's JV partner and operator, Origin.
• In November, 2015, the JV successfully drilled the well to a total measured depth of 3,808 m, including a 1,100 m horizontal section.
• In September, 2016, 11 hydraulic stimulation stages were completed along the horizontal section in the Middle Velkerri B shale zone.
• In December, 2016, a 57-day extended production test (EPT) was completed, with production averaging 1.10 mmscf/d.
• In February, 2017, the results of evaluation of the discovery and preliminary estimate of petroleum in place were published for the Velkerri B shale gas pool, confirming a gross contingent resource of 6.6 trillion cubic feet, 1.46 trillion cubic feet net to Falcon; full details are contained in Falcon's annual information form.

Details of Amungee testing:

• The well was successfully put back on production testing on Aug. 7, 2021.
• Initial flow rates during the first 48 hours of testing ranged between two million and four million standard cubic feet per day with rates averaging 1.23 mmscf/d over the first 23 days.
• A PLT was run on Aug. 19, 2021, to 3,098 metres measured depth, just prior to the casing deformation at 3,112 m md.
• The PLT data confirm that: Only 5 to 15 per cent of the production came from stages 1 to 7 beyond the casing deformation point at 3,112 m md. Eighty-five to 95 per cent of the production came from stages 8 to 11, spanning a 200 m horizontal section, prior to the casing deformation.
• The low contribution from stages 1 to 7 is likely the result of a restriction caused by the casing deformation or the plugs having not milled out, or both.
• Conclusion: Stages 8 to 11 may be representative of the deliverability that can be achieved within the Middle Velkerri B shale at Amungee.
• The PLT test results equate to a normalized gas flow rate of between 5.2 million and 5.8 million standard cubic feet per day per 1,000 m of horizontal section.
• A typical future production well would be likely to have a horizontal production section of up to three kilometres.
• The result validates the decision to undertake a second EPT in order to run a PLT.

Philip O'Quigley, chief executive officer of Falcon, commented: "With our unique and extensive position in the Beetaloo subbasin, this is really exciting news for Falcon shareholders and this significant development provides line of sight to the commercialization of the Beetaloo, for which we remain carried for further activity.

"A recent report by an industry analyst suggests that gas flows greater than three mmscf/d from a 1,000 m horizontal well are required to demonstrate the commerciality of the Beetaloo. Not only does this test result significantly exceed these parameters and significantly increase our assessment of the Velkerri dry gas play, but it also puts the Beetaloo on a par with other shale gas basins in North America.

"While we wait for further news from our operations at Kyalla 117 N2-1H ST2 and Velkerri 76 S2-1, we look forward to working with our JV partner, Origin, in establishing the next phase of work on the Middle Velkerri B shale.

"With other drilling activity in neighbouring Santos-operated blocks targeting the Velkerri dry gas play, this is an important moment for the nationally significant Beetaloo subbasin."

Take away:

Do not sell any of your Falcon shares under $10.00

The Beetaloo Strategic Basin Plan released as part of the gas-fired economic recovery 

For blind minions…..see link below

https://falconoilandgas.com/company-presentations/#1541158622782-52acf8a2-2f7f

So hold and do not selll any of your shares under $10.00

You are in good company.

Keep in mind:

Vested interest... 

 Toronto, finacial hub of Canada. The Exchange Tower, 36 storey high, dwarfed by nearby skyscrapers. The TSX located on the third floor. Hundreds of market makers busily working at their stations. A gofer rushing  through the complex with an oversized box of Tim Horton donuts, a special delivery to the "Backroom" where the Backroom Boys plotting their moves. As soon as the gofer left the room the boys attacked the box of donuts, in the frenzy no one noticed the fat fly nonchalantly flew out the box and settled on the wall.

Suddenly the backroom head honcho walks in, he looks very angry. He looked angrier than Trump did on wendesday.

-We should fire you all. We did everything for you, we setup everything for you, With the help of other interested parties, we supressed all informations coming out of australia, All you had to do is just screw the little investors. But no, you didn't deliver. You..you... you... you are schmendricks!!!

Then ...the head hocho stormed out

------------------------------------------------------------------------------------------------------------------------------------------------

It is a luxurious alpine retreat in the Swiss mountains. A man standing at the window looking at the mountain peaks in the distance.

Another man, older, sits in a Wingback leather chair.The two men, both billionaires, are friends. The older man is the founder of Falcon Oil and Gas. The man at the window is Falcon’s largest shareholder.

The fly perches on the leather chair behind the elderly man’s head.

“A penny for your thoughts, Victor” says the old man. “You sure look distracted today.”

“Oh, I’m more than distracted, Mark. I’m done right annoyed.”

“Annoyed with what?” says the old man.

“With these long-term investors. No matter what we’re throwing at them, they just aren’t selling. ”

“Well Victor, we did everything within our power, like creating the AIM Listing for the sole purpose of shepherding Falcon’s stock price in Toronto. But that doesn’t work. You can’t move a battleship with a fishing boat. Our friends the market agents can’t get the job done either. Churning is a zero sum game. I think those long-term investor are determined to hold, and you better get used to it. Besides, you just picked up 38 million shares for 0.207 cents and I believe that was a steal. “

“Yeah I know Mark. Except I can’t get used to the idea rubbing shoulders with 13,000 new millionaires. “

--------------------------------------------------------------------------------------------------------------- 

The Exchange Tower is a 36 storey tower. The elevator stops on the third floor, as the elevator door opens the fly quickly escapes from the confinement into the half acre office complex, home to hundreds of Market Makers. Immediately the fly makes a beeline through an open door for the donuts on the sideboard. This room is no ordinary room. This room is the fabled ‘back-room’ where only a select few, to the outside world Faceless-Backroom-Boys ply their trade.

The meeting is over, a dozen or so FBB’s about to leave the room, just then the chief FBB calls back his number one FBB.

“ Number One, give me the year to date report on our Cinderella stock Falcon. You should know that our biggest investors are getting impatient.”

“Well Chief, which one do you want to hear first, the good news or the bad news?”

“Ok, give me the bad news first.”

“I have to tell you up front that we’re using every available tool in the toolbox but the result is still the same as it was all of last year, no one is selling. Hence we have to prime the sluice; consequently we end up hemorrhaging our pool of shares to smart long-term investors.”

“Look Number One, I don’t want to hear about smart investors, just use our double talking minions and find more tools in that toolbox and get results. Our purpose is to profit, so screw the public. We’re the market makers, and that’s what we do.”

“More like Robber Barons”

“I hope that was just a tongue in cheek remark, not some sort of guilt trip.”

“Of course not”

“Ok Number One. So what’s the good news?”

“Just picked up some more Falcon in my private account”

---------------------------------------------------------------------------------------------------------------

Same city, Toronto, also known as The Big Smoke. Same Exchange Tower, 36 storey high. Same half acre office complex on the third floor, home to hundreds of Market Makers. Same special ‘back-room’ where Faceless-Backroom-Boys ply their trade.

However, the time is 6 months later and the donuts on the sideboard was freshly delivered from Tim Hortons. So was the Fly in that same box.

The Chief FBB has a visitor, a CEO from a large capital investment firm.

“ What’s the status of my 50 million shares order of Falcon I placed last year, Chief?”

“ I’m sorry to say, but there isn’t any for you. Neither to anyone.” says the chief.

“ Explain, how’s that possible?”

“Let me ask you first, what’s the reason you are so keen to get 50 million shares of Falcon?”

“ Well, Falcon has 200 TCF of gas and 21 billion barrels of oil assets in Australia and Hungary. So, when it’s becomes proven, we’re talking 300 billion dollars value at minimum. Am I right, Chief?”

“So then, in your answer lies the explanation. When Falcon’s play becomes proven, Falcon itself will be worth 100 billion dollars. This fact and the fact that Falcon’s 4 largest investors own about 430 million shares of Falcon haven’t been lost on the other 13,000 long term investors.”

“ So you are saying that I’m out of luck. So then tell me what would I have to pay if I want to fill my order in the coming week?”

“North of 3 dollars and I’ll gladly accommodate you.”

--------------------------------------------------------------------------------------------------------------

Target Price $10.00+++

Present non-backroom value is $10.00.

There are 13,000 long-term investors following this Forum. And this fact, as a matter of course bothers the backroom boys.

We, the 13,000 long-term investors holding stronger than ever. Like Renova..like Burlingame...like Persistency.. like Sweetpea...like Nicolas Mathys

You can find me on this chart, I'm one of the 13,000.

So hold and do not selll any of your shares under $10.00

You are in very good company.