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Ever notice that when broader markets rise, Falcon exhibits zero correlation.... but when markets decline, suddenly Falcon becomes a high-beta stock?
What a disaster. Thanks, Philip O’Quigley, for your terrible leadership and non-existent communications to shareholders. I know you’re reading this!!! :).
Question... Over the past 10 years who has spent more time, cumulatively, writing & contemplating about Falcon: O’Quigly or Newtfo? Craven or Wtwater? Many here have spent 10+ years *waiting*. Waiting and writing and speculating and likely expending more mental energy than POQ expends.
Can you imagine, in 2006, if you had simply invested your Falcon capital into the S&P 500? Falcon has been a grueling unmitigated money and time trap. Investing ain’t supposed to be like this.
Newt, wwater and other poor souls... how many hundreds of hours have you spent reading and writing on this chat room? And what do you have to show for it?
Some here let Falcon steal their money AND sap their time. We all should have bought SPY.
Good luck all, hope we get our 25c.
https://falconoilandgas.com/category/news/
Some big words here. So take your time, LongFog.
The market clearly expects one of POQ’s patented “vague / bad news” PR’s. And the market expects this imminently.
For those who have been long Falcon for 5+ years... imagine if you had invested that cash in a simple market index ETF, instead of a poorly run company with 1 billion shares outstanding and a CEO who collects a $500k annuity funded by shareholders. Lesson learned.
“There are $11 billion in known gas assets for sale at the moment in Australia and likely a lot more on the ‘grey’ market. There are massive write offs occurring in Australia and around the world. ExxonMobil has pulled the sale of it $3 billion Bass Strait gas assets because it failed to find a buyer.
And Origin Energy are looking to farm out part of its Beetaloo Basin but the buyers aren’t there. It’s still for sale.
http://ieefa.org/ieefa-australia-beetaloo-is-a-sink-hole-which-the-gas-industry-itself-isnt-even-investing-in/
Carra - it’s totally unreasonable that you expect O’Quigley or the CFO to reply. They’re busy meeting with institutional investors, presenting at conferences, writing informative press releases, updating Falcon’s website, negotiating with Origin and performing other important tasks geared towards shareholder value.
O’Quigley is paid measly $600k per year, which isn’t nearly enough. I vote for a 30% raise, even if it’s funded by a capital raise.
Let’s assume the best option - at this point - is to end this saga by Falcon selling itself for 30c, 50c, 100c, whatever. Assume this is shareholder’s best interest (for sake of argument, put aside your dreams of $3).
O’Quigley’s current CEO role = an annuity of $600k per year (for doing zero work). He’d understandably want to maintain this “free money” annuity as long as possible. Squeeze out as many years as he can, while Falcon withers away.
How can this conflict be mitigated?
TN, first of all, if Falcon is sold for $1, that’s a 1000% increase from today’s price. A) that’s unlikely short term and B) I’d dance in the streets if that occurred.
What specifically do you think could be announced Dec 10??? What does “come to a close” mean? You’re not possibly suggesting that Falcon will rise 1000% by next week, are you?
To extent Origin sells a % of their Beetaloo share, that transaction could re-rate Falcon’s market cap to the upside.
Hopefully Origin farms down at a high valuation.
Origin likely in negotiations... otherwise, they wouldn’t reference it publicly.
Cheers,
Hyunvyanska
So the board here agrees POQ is a skilled negotiator (but poor communicator to shareholders). If true, POQ should be able to convince Origin to purchase our 22% stake NOW. This would be an opportunistic time for Origin. Again, I’d love 30c at this point.