but my take on this was the possibility of another spin off with the current Falcon owning Mako and the new Falcon Australia owning the Beetaloo (and maybe the Karoo?)? Investors would initially own an equal number of shares in both, but this would separate the Mako trough and it's current problems from the Beetaloo and possibly put the Mako in a very difficult position if the funding arranged for Australia has to stay there.

Thanks for the feedback. I'm not sure I'm following your thought process here though. You're saying you believe that new (Aust.) investors would be investing in Falcon as a whole, but current shareholders would be given shares of the new (Aust.) Falcon as well?

They have shown that they are no longer afraid to rattle this company to the core if that is what it takes to keep Bruner on the right track and any future decisions to split the company in two will have to be in all of the shareholders interest with Burlingame holding so many shares.

I hope you're 100% correct with this. It makes sense that Burlingame would want to protect their shares as the rest of us do, and not vote in favor of a split that would leave us hanging on the Mako alone. I have to say it makes one feel more comfortable to have such large existing shareholders with some power.

LeonRedbone

There was some discussion about how the Australian new corporate set-up would be financially beneficial for the existing Falcon shareholders as well, in that a management fee would be paid to Falcon offsetting allot of the current management expenses.

....And we become another one of MAB's spin-off companies, like so many before? I wonder what name he has in mind for his new Australian company. I can only hope that the new directors are in place to prevent this from happening. Getting a phunny feeling about Australia.

LeonRedbone

"A $50 million initial work program in the Mako Trough was a disappointment, however, and Exxon now says no further operations there are planned."

Of course you could put on some rose colored glasses, and this could simply mean that until they officially begin Phase 2, they don't have any specific operational plans.

Just reading over some posts from the weekend..can't believe you didn't get any responses to this, but FWIW, I must have my rose-colored glasses on, because I've seen reporters get it wrong about as many times as I've seen them get it right. I would assume that Exxon would have been referring to F1, and not the Mako Trough if they said "no further operations there are planned"

LeonRedbone

DENVER, Dec 09, 2009 /PRNewswire-FirstCall via COMTEX News Network/ --

Falcon Oil & Gas Ltd. (TSXV: FO) ("Falcon" or the "Company"), a global energy company focused on acquiring, exploring and developing large acreage positions of unconventional and conventional oil and gas resources, today announced that Janos Csak has resigned from the Board of Directors, effective December 7, 2009. Mr. Csak was not nominated for re-election at the upcoming annual and special meeting of the shareholders of the Company to be held on December 10, 2009.

LeonRedbone

Falcon Oil & Gas Ltd. announces the filing of its interim financial statements and accompanying MD&A

DENVER, Nov. 25, 2009 (Canada NewsWire via COMTEX News Network) --

Falcon Oil & Gas Ltd. (TSXV: FO) announced that it has filed its interim financial statements for the period ended September 30, 2009 and the accompanying management's discussion and analysis.

These filings are available at www.sedar.com and on Falcon's website at www.falconoilandgas.com.

About Falcon Oil & Gas Ltd.

Falcon Oil & Gas Ltd. is an international oil and gas exploration and production company, headquartered in Denver, Colorado, incorporated in British Columbia, Canada, and trading on the TSX Venture Exchange under the symbol "FO." The Company specializes in the business of conventional and unconventional oil and gas exploration and production and holds interests in prospective properties in Hungary and Australia. The Company is focused on discovering, acquiring, and maturing a globally diversified portfolio of drilling opportunities with a goal of maximizing shareholder value through strategic relationships. Additional information concerning Falcon Oil & Gas Ltd. is available at www.falconoilandgas.com. Investor inquiries may be directed to investor@falconoilandgas.com

In the interests of providing Company shareholders and potential investors with information regarding the Company, including the Company's assessment of its and its subsidiaries' future plans and operations, certain statements included in this press release may constitute forward-looking information or forward looking statements (collectively, "forward-looking statements"). All statements contained herein that are not clearly historical in nature are forward-looking, and the words "anticipate", "believe", "expect", "estimate" and similar expressions are generally intended to identify forward-looking statements. Similarly, forward-looking statements in this press release include, but are not limited to anticipated developments of the Company's various drilling projects and the timing thereof, capital investment levels and the allocation thereof, pipeline capacity, government royalty rates, reserve and resources estimates, the level of expenditures for compliance with environmental regulations, site restoration costs including abandonment and reclamation costs, exploration plans, acquisition and disposition plans including farmout plans, net cash flows, geographic expansion and plans for seismic surveys, or successfully engaging a partner in any of the Company's endeavours. In addition, please note that statements relating to "reserves" or "resources" are deemed to be forward-looking statements, as they involve the implied assessment, based on certain estimates and assumptions, that the reserves and resources described can be profitably produced in the future. Such statements represent the Company's internal projections, estimates or beliefs concerning, among other things, an outlook on the estimated amounts and timing of capital expenditures, anticipated future debt levels and incentive fees or revenues or other expectations, beliefs, plans, objectives, assumptions, intentions or statements about future events or performance. These statements are only predictions. Actual events or results may differ materially. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, it cannot guarantee future results, levels of activity, performance or achievement since such expectations are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors could cause the Company's actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, the Company and the foregoing list of important factors is not exhaustive. These forward-looking statements made as of the date hereof disclaim any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise. Company shareholders and potential investors should carefully consider the information contained in the Company's filings with Canadian securities administrators at www.sedar.com before making investment decisions with regard to the Company.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: Falcon Oil & Gas Ltd.

Marc A. Bruner, Falcon Oil & Gas Ltd., Chairman, President & Chief Executive Officer, (303) 893-1800, investor@falconoilandgas.com; Al Palombo, Cameron Associates, Investor Relations, (212) 554-5488, al@cameronassoc.com

Copyright (C) 2009 CNW Group. All rights reserved.

Well, the Foldeak didn't pan out as most anticipated... but one of my other gas plays, right close to home in here in Alberta, managed better flow rates..

http://www.benzinga.com/press-releases/m34291/angle-energy-inc-announces-horizontal-drilling-success-at-lone-pine-creek

Before anyone gets bent out of shape....no, I'm not pumping the stock, just happy one of 'em got good flows.

LeonRedbone