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EXCLUSIVE: Alastair Smith, Avacta Group CEO gives an Operational Update


Falcon Oil Share Chat (FOG)



Share Price: 16.75Bid: 16.50Ask: 17.00Change: 0.00 (0.00%)No Movement on Falcon Oil
Spread: 0.50Spread as %: 3.03%Open: 16.875High: 16.875Low: 16.75Yesterday’s Close: 16.75


Share Discussion for Falcon Oil




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OrsonModesto
Posts: 268
Opinion:No Opinion
Price:18.375
RE: Origin Bailing on Beetaloo?
13 Sep '18
WW basically nailed my sentiments. Let's remember that Origin only has a right to a 70% interest in the Beetaloo concessions only by completing the terms of the farm-in, i.e. drilling the wells agreed to. They can't sell something that they have not earned. As was mentioned, if Origin fails to meet the terms of the farm-in, the concessions revert back solely to Falcon a la Hess. So if Origin is considering getting out of the farm-in, I think Falcon has a tremendous amount of leverage here. Santos is a logical choice, should they agree to carry out the terms of the farm-in. Once again, If Santos wants to revise the terms of the farm-in, surely Falcon will leverage this to their advantage, more money in the bank for starters.
 
Silverback0_13
Posts: 99
Opinion:No Opinion
Price:18.375
RE: Origin Bailing on Beetaloo?
13 Sep '18
Then again a merger with origin/Santos could be on the cards??
Silverback0_13
Posts: 99
Opinion:No Opinion
Price:18.625
RE: Origin Bailing on Beetaloo?
13 Sep '18
Hhhmmmmm?, as Elvis Presley might have said “i’m A bit suspicious!”.....Not at all!,all I read into this and this is just my opinion is that Origin may be putting all its eggs into the beetaloo basket.....a giant stock take then Origin buys us out having first refusal?the plotteth thickerthuth. Bring on 2019
WetWater
Posts: 373
Opinion:No Opinion
Price:18.60
RE: Origin Bailing on Beetaloo?
13 Sep '18
I would imagine Falcon will be coming out with a statement very shortly. Some stories have Origin completing the divestiture by December - if that is true then my money says there is already a deal in the works and that might very possibly be Dr. Close and Santos. Origin can't just walk away without finding a suitable replacement for their interest in the Beetaloo farm-in. We don't know how the contract reads but I am sure Falcon would be happy with Santos as a potential partner and I would think Falcon's approval is needed in some regard.

Origin or whomever better meet the 2020 Stage three completion date or they might find themselves in Hesse's shoes.

Can't wait to see Falcon's response to this news.
ITguy
Posts: 225
Opinion:No Opinion
Price:18.60
RE: Origin Bailing on Beetaloo?
13 Sep '18
Didn't mean current drilling. Meant upcoming drilling.
ITguy
Posts: 225
Opinion:No Opinion
Price:18.60
RE: Origin Bailing on Beetaloo?
13 Sep '18
On Aug 16, Origin and Falcon agreed to accelerate the beetaloo drill program.

http://www.oilcapital.com/companies/news/203020/falcon-oil-gas-and-origin-energy-agree-to-ramp-up-beetaloo-activity-203020.html

I think FO will be fine. As well as current drilling. But, maybe Origin doesn't go to production?

The Beetaloo wasn't included last time Origin farmed out assets. I think they went to Beach Energy. Didn't check on that.
Sandydune
Posts: 6
Opinion:No Opinion
Price:18.60
RE: Origin Bailing on Beetaloo?
13 Sep '18
Can’t imagine that this will have an impact on Phase 2 of the Origin commitment with Falcon that was just negotiated. In fact, Origin probably was very strategic in the drilling selection locations in order to maximize value on a limited amount of area if in fact they intend on seeking a buyer. There just is no way they would walk without completing this crucial phase to establish value of the asset. Probably a magnificent gift to Falcon if they defaulted at this stage, however after waiting for so long for a this to finally pay off, I would rather have 30% of successful results of the phase 2 campaign than 100% of the unknown and more delays.
Origin789
Posts: 228
Opinion:No Opinion
Price:18.60
RE: Origin Bailing on Beetaloo?
12 Sep '18
I think this is a discussion that many large energy companies may be having that are involved with Fossil fuels. I wouldn't think that they have short term plans to sell off their assets, but their medium term plan may well consider this move... Interesting.
AnimalSpirit
Posts: 73
Opinion:No Opinion
Price:18.60
RE: Origin Bailing on Beetaloo?
12 Sep '18
I’m assuming that they would still want to proceed with the drilling in order to prove the value of the Beetaloo for future sale though. In some ways this puts them in the same position as Falcon, albeit on a bigger scale
AnimalSpirit
Posts: 73
Opinion:No Opinion
Price:18.60
RE: Origin Bailing on Beetaloo?
12 Sep '18
Nice find WW. Yes indeed, Close’s recruitment seems even more significant now.
WetWater
Posts: 373
Opinion:No Opinion
Price:18.60
Origin Bailing on Beetaloo?
12 Sep '18
This will be disruptive for the Beetaloo but Falcon could possibly end up with 100% of the project. Now we know why Dr Close likely left Origin - could there already be a buyer of Origin's interest waiting in the wings (Santos?) Unless written into the contract, if Origin defaults and does not live up to its farm out agreement, then everything could revert back to Falcon. This also might explain the price weakness in Falcon the last couple of months.<br /><br />Lets see what develops! Could prove very interesting.




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