Falcon Energy

Falcon Energy: Company has entered into a preliminary agreement with PetroVietnam Drilling & Well Service Corporation (PVDWSC) dated 24 January 2013 in relation to the setting up of a joint venture company in Singapore which may provide drilling services and associate services to clients. PVDWSC is a Vietnam-based provider of oil and gas drilling services and is a subsidiary of PetroVietnam. Not surprisingly Falcon was up 7% in the past week and is up 27% YTD, as compared to peers Ezion (up 6% YTD) and Kreuz (up 12% YTD). Valuations are not meaningful for Falcon.