Hopefully you will have more luck than I did today!! They will have a draw for a Samsung Tab after Peter's question and answer session - and I was out by only one number - just my luck. However, I am feeling more confident about my Falcon shares after today, so I may just be able to buy a few Samsung Tabs on my own before the year is out.

I did get to speak with Peter O'Quigley today for a few minutes before his presentation to a small group of about 60 investors. Peter was very upbeat about Falcon, but then again he is the one doing the dog and pony shows - so he should be upbeat.

I talked with one of the ProActive advisors afterwards and he said Peter had already met with a few of the fund managers and was scheduled to meet more this afternoon. These meetings should help drive more buyers into Falcon - especially after Peter has done this 4 or 5 more times as scheduled.

Quick notes from my conversation with Peter - in no specific order:

1. Peter told me that Falcon has complete access to all the seismic data that Hess shot, but not Hess's interpretation of that data as yet. The full data is with the technical dept. in Hungary and they are going through it in detail.

2. Peter told me that Hess's body language is very good and he believes that the Beetaloo fits Hess's model going forward - even with all the Elliot shareholder action going on.

3. He mentioned that a rig was currently being booked for May by NIS with a view to spudding the first well in June.

4. He mentioned that the Beetaloo is probably about 3 years ahead of the Karoo in a developmental capacity and that Chevron will most likely have to come up around $150 million in commitments for seismic and the first test wells - once Falcon has an exploration permit in hand. This amount is very similar to what Hess's total commitment will be once the 5 exploration wells are drilled, providing they agree to go forward in June. Peter is hoping to have a new JV in place with Chevron by year end with the granting of the exploration license from the South African government. Peter also mentioned that they currently have almost no expenditures in S.A. as all the people they had in place are now working for Chevron.

5. Peter said the model that Falcon is working on does not envision the company becoming a big multi-level oil and gas company. They will most likely look to sell assets once they reach or cross the "RED" line on the chart for stages that is shown on page 20 of the April Corporate Presentation. This would indicate that Beetaloo assets could be sold separately as the Karoo may be some years behind.

6. Peter told me that Burlingame did not take their prorata share of the AIM listing - as they already had a big investment in Falcon and the board did not want to take on more. He did mention that he was in touch with Blair from Burlingame on a regular monthly basis and that Burlingame's original purchase price was around 40 cents? Soly - quick question - is this 40 cents accurate I thought Burlingame's price was quite a bit higher??

7. I asked Peter about any possible rollback in the stock since we have over 900 million shares out, with the warrants and options. Peter said absolutely not. His experience with Rollbacks has been that they don't work and he said it will be much better to take the stock up from 20 cents to $2 through all the hard work than it would ever be to do a rollback.

8. Peter said that they have 3 companies looking at the Shenandoah and the other piece that is 100% owned by Falcon Australia. He said Falcon could do a new deal now if they wanted, but they will wait for the Hess decision with a view to getting an even better farm-out after Hess goes forward.

9. Peter said that John Craven wants to keep looking for new opportunities and that they have a great technical team in Hungary that can delve into any non-conventional asset to determine the pros and cons. They don't have anything specific on their radar right now.

Not allot of new information, but nice to hear most of it again.