Great Post!

Some things I like:

Management states they are confident in an Australia deal by the end of Q2 or sooner; to the best of my knowledge they have not worded a commitment like this previously, which likely means they are very serious.

Some things I don't like:

The new presentation lists an estimated timeline which states Q2 as their farm-out deal completion. Their September 2013 presentation (below) listed Q4 of 2013 as their farm-out deal completion.

http://www.falconoilandgas.com/uploads/pdf/Falcon_AGM_Presentation_September_2013_to_print.pdf

Overall, they didn't state they were confident about their estimated timeline for Australia in 2013, but they have for 2014. This seems like a make-or-break moment for Falcon's credibility to me. If they deliver, it will be a huge win with likely a higher valuation. If they don't deliver, I wouldn't be surprised to see the stock valuation fall. However, I am optimistic.