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: Up up and..... Back down again!! - Sir Larry
3
Sep 11, 2013 11:13AM

I still think that the 2.5 billion dollar target is within the realm of possibility, but also agree with periwinkle in that we are long way from any valuation of that level for the Beetaloo. No company in the world is going to pay up that kind of money until the Beetaloo has proven that it is worth many times that valuation for the oil and gas still in the ground. We will need to see a number of wells drilled and some very succesful flow rates before we hit the multi-billion dollar valuations. However, we should see some nice lift on the share price when - not if - we get the new JV announcements and then everyone will have to have some longer term patience as no drills will be turning before 2014 and no significant flow rates for some time after the rigs have moved to multiple locations. Our biggest saving grace here - is the Beetaloo doesn't seem to have any of the fracking conflicts of the scale we see in the Karoo and the construction of the LNG trains to the North of the Beetaloo adds a very high value market for Falcon's 163 TCF in the ground (without even considering all the lovely black crude that is there)!!

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