Falcon Oil and Gas Ltd.

Seizmic indicates conventional traps ( low hanging fruit) this makes this property all the more attractive and should up there leverage on negotiations. "All the necessary elements of a productive unconventional and CONVENTIONAL petroleum system have been identified in multiple shales and sand reservoirs, and it is now clear that the Beetaloo Basin is an active petroleum system. Three hydrocarbon plays, the shale gas potential in the basin centre, a shale oil play in the northern part of the permits and CONVENTIONAL prospects have been identified throughout the acreage. Recent interpretation of the seismic database mapped out several CONVENTIONAL drilling targets that are promising areas of hydrocarbons accumulation in the form of structural closures and traps."