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: Size of the Prize - This company controls much

I stated my opinion that -

"For someone to state that Falcon does not have or is not in control of its asset has to come from someone that does not know what Falcon has, who their management is or in my opinion it could come from someone who is a paid basher or just a dumb basher who thinks he knows more than Hess, Falcon, Orgin or Sasol."

Not sure that consitutes calling you dumb.

The farm out press release announcement states -

TIDMFOG Falcon Oil & Gas Ltd.-Completion of Australian Beetaloo Basin Farm-Out and Commencement of Nine Well Exploration and Appraisal Program FOR: FALCON OIL & GAS LTD. TSX VENTURE SYMBOL: FO AIM SYMBOL: FOG ISE SYMBOL: FAC August 21, 2014 Falcon Oil & Gas Ltd.-Completion of Australian Beetaloo Basin Farm-Out and Commencement of Nine Well Exploration and Appraisal Program DUBLIN, IRELAND--(Marketwired - Aug. 21, 2014) - Falcon Oil & Gas Ltd. (TSX VENTURE:FO)(AIM:FOG)(ESM:FAC) (the "Company") is pleased to announce, that further to its press release of 2 May 2014, its 98% subsidiary, Falcon Oil & Gas Australia Ltd ("Falcon"), has completed its Farm-Out Agreement and Joint Operating Agreement (collectively "the Agreements") with Origin Energy Resources Limited, a subsidiary of Origin Energy Limited ("Origin") and Sasol Petroleum Australia Limited, a subsidiary of Sasol Limited ("Sasol"), (collectively referred to herein as the "Farminees"), each farming into 35% of Falcon's Exploration Permits in the Beetaloo Basin, Australia (the "Permits"). Key transaction details are: =- Falcon retains a 30% interest in the Permits. =- Falcon has received A$20 million cash from the Farminees. =- Origin is appointed as Operator with immediate effect. =- Farminees to carry Falcon in a nine well exploration and appraisal program over the next four years, detailed as follows: -- 3 vertical exploration/stratigraphic wells and core studies; -- 1 hydraulic fracture stimulated vertical exploration well and core study; -- 1 hydraulic fracture stimulated horizontal exploration well, commercial study and 3C resource assessment; and -- 4 hydraulic fracture stimulated horizontal exploration/appraisal wells, micro-seismic and 90 day production tests. =- Drilling/testing specifically targeted to take the project towards commerciality. =- Farminees will pay for the full cost of completing the first five wells estimated at A$64 million, and will fund any cost overruns. This drilling programme will commence by mid 2015. =- Farminees to pay up to the full cost of the next four horizontally fracture stimulated wells, 90 day production tests and micro seismic with a capped expenditure up to A$101 million, any cost overrun funded by each Party in proportion to their working interest. =- As part of the agreements to reduce the overriding royalties from what was originally 12% to 1%, Farminees will pay their pro-rata share (US$14 million (approx. A$15 million)) of the two five year call options entered into by Falcon as part of agreements announced on 1 November 2013 with CR Innovations AG and 17 December 2013 with the TOG Group, should Farminees and Falcon decide to exercise the call options. =- Farminees may reduce or surrender their interests back to Falcon only after: -- the drilling of the first five wells or -- the drilling and testing of the next two horizontally fracture stimulated wells. Philip O'Quigley, CEO of Falcon commented: "I am delighted to announce we have completed the Agreements with Origin and Sasol for our transformational Farm-out of our Beetaloo acreage. Together with A$20 million cash up front, the deal is worth up to approximately A$200 million to Falcon.

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This is a press release to the public giving highlights of a very extensive partner contract agreement that took a long time to dot the i's and cross the t's. The operator is responsible to complete the desires of the partners. The agreement would have extensive language on when, how and who makes future decissions. Do you think Sasol and Falcon agreed that Orgin has all the future decision making or do you believe Sasol and Falcon agreed that Orgin is responsible to execute the desires of the partners?

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