Falcon Oil and Gas Ltd.

Sometime ago someone mentioned GasFrac Co a company that has developed a process to create a gel from Propane that eliminates the need for water fracing. I have investigated this company. The techique is very good, the gel comes back from the formation in 10 days and is saleable, no waste water to handle. The up front costs are higher but a faster and higher rate of production is achieved and the process is more cost effective. The stock was a darling and sold for multiples of its offerring price but started when companies were pulling in their development plans due to the falling price of Gas. Management was oversold on the gas frac process and did not match expenditures to income and did not achieve financial sucess. They are in the process of getting new management. The price has fallen way below book value and appears to have hit the bottom and in the last 30 days the 7 day moving average is above the 20 day moving average which is above the 50 day moving average. I use this criteria to acquire stocks so I have acquired alot of shares this week and in my opinion Falcon, Chevron and most majors will be using this process when the Karoo basin is developed.