Re: Falcon Oil & Gas's Australian farm-out talks 'well advanced'
posted on
May 01, 2014 06:29PM
Based on a recent discussion with FO management, I believe the deal is near completion and the delay may in fact be due to the lawyers doing their typical thing. There is no reason for FO to risk taking such a definitive position in their recent Management update by stating clearly the deal would be done before the end of Q2. Additionally, the trading activity a couple of days ago indicates the price was intentionally driven down in order to load up for clients. Although I don't like the fact the price is now about .03 lower, I find some comfort and hope in the way the action seemed to be manipulated quickly and didn't keep going lower. I want to believe in the present management's communications and remain optimistic it is going to happen within the next 60 days. After that, we pray that oil and gas will be proven.