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: Re: Who Owns What
2
Mar 08, 2010 10:44PM

I would like to propose the following questions.

If FO.v owns 75% of Beetaloo ,considered to be the major value moving forward and given the as yet unknown outcome of ongoing attempts to raise funds for FO Australia.

1) What is the estimated unproven value of Beetaloo and if saleable whom gets the proceeds?

2) If funds cannot be raised in sufficient amount to proceed what is the next viable option?

3) If Beetaloo does not advance, what happens to FO Austalias assets? (do they revert to FO.V /PHUN or vanish back to the Australian Gov`t

The reason I ask these questions is FO.V had firm control of a potential high return asset which has now been transfered to paper of unknown value.

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