Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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I think all this progress is good. Ultimately for a fair buyout price, Fog had to appear capable of getting to small scale production and being able to last as a company. This all brings that closer. Will we get a buyer? Unknown, obviously, but the pieces are being positioned now, whether we agree with the specific decisions or not.
I think this binding agreement is good.
But with FOG`s reduced and diluted gas production share , FOG will have only enough own gas to run the gas dehydration unit before the gas is sold.
To be fair to Riddle. Selling that gas to the gov is a nice move as it will make blocking the development of the gas fields, processing plant and pipeline harder when they have a seat at the table..
Tamboran Resources Corporation (ASX: TBN) Managing Director and CEO, Joel Riddle, said:
“We are proud to deliver on our commitment to provide the Northern Territory Government with long-term
supply of gas from the Beetaloo Basin. Tamboran has always promised that our first gas production from
the Basin would be to the benefit of Territorians and we are excited to play our part in boosting energy
security in the Northern Territory.
“This is a transformational development for Tamboran and our partners, after ten years of hard work and
more than A$500 million invested in Beetaloo exploration and appraisal activities. This represents a major
milestone and puts Tamboran on a path where revenue from gas sales will support funding our future
development phases, including supply to the East Coast gas market. In addition, the proposed Pilot Project
is expected to provide initial royalties to both the Northern Territory Government and Traditional Owners
within the region.
“With electricity in the Northern Territory predominantly sourced from gas-fired power, it is key that the
Northern Territory has a readily available gas supply to keep the lights on. Due to the use of natural gas in
the electricity supply, the Northern Territory is well below the national average for emissions intensity
across Australia’s electricity network, especially NSW, Victoria and Queensland who rely heavily on coal.”
Https://hotcopper.com.au/threads/ann-tamboran-sign-binding-gsa-with-northern-territory-government.7963058/?post_id=73469171
So do we assume our gas gets sold via same channels?
I am not measuring this with any degree of accuracy, but it certainly looks a little larger. Has anyone done any detailed comparisons?
Kmj -- Sheesh -- I am going to check my security cameras -- just to see how you were able to verify that I wet the bed the other night (just after my heart attack -- LOL).
Here is the Cavendish update:
A Defining Moment for the Beetaloo: The SS-1H well achieved IP30 and IP60 rates of 6.4MMscf/d and 6.0MMscf/d, respectively (normalised over 1,000m), significantly exceeding pre-drill expectations and the 3.0MMscf/d IP30 rate required to progress the sanctioning of the proposed 40MMscf/d Pilot Project at Shenandoah South. The SS-1H flow rate is the highest tested in the Beetaloo Basin to date, and combined with the geological data gathered, puts Shenandoah South on par with the most prolific shale gas basins in the US. The IP60 exit rate trajectory show a steady, low decline type-curve (c2.8MMscf/d) and downhole pressure implying a highly effective frack that is connected to a sizeable volume of gas. The SS-1H well is planned to be flow tested until IP90 to allow for an assessment of the well’s 20 year estimated ultimate recovery (EUR) with results expected in late April 2024. -
SS-1H Results on par with the Prolific US Shale Gas Basins: Results from the SS-1H well have confirmed the similarity between the Middle Velkerri B Shale and the Marcellus shale dry gas window – one of the world’s most prolific shale gas basins. Most importantly, the pore pressure gradient for SS-1H is consistent with the core Marcellus, highlighting the ability to extract gas from the shale formation. -
Advancing to a 40MMscf/d Pilot Project: Front End Engineering and Design (FEED) on the proposed 40MMscf/d Pilot Project continues, with FID expected in mid-2024. The Pilot Project is expected to consist of six, 10,000ft horizontal wells drilled from the same well pad 4km to the north of the SS1H well. Two wells will be drilled and fracked in 2024, with a further four wells in 2025. A gas processing plant will be connected via infield gas gathering lines to a 35km export pipeline, connected to the Amadeus Gas Pipeline. While first gas is targeted for H1/26, commerciality will be further proven by the end of 2024, once the initial two production wells are fracked and flow tested. -
Significant US Expertise and Capital: To date, >US$115m has been invested across the Beetaloo by Bryan Sheffield, the founder, and former CEO of Parsley Energy. H&P, a drilling industry leader has imported a 2,000HP rig into the Beetaloo, which is expected to support a material reduction in drilling times and costs. Operator, Tamboran also has a right of first refusal until 2033 on future drilling rigs. Tamboran has also signed a strategic partnership with Liberty energy to import a modern frac fleet to the Beetaloo in 2024 for a stimulation campaign with leading operational and subsurface engineering expertise, reducing delays mobilising equipment, increasing efficiencies, and reducing costs.
I think there are a number of people close enough to call a spade a spade.
Speaking for myself, and to keep things in perspective, I am once again reminded of a very funny quote (and YouTube video) by the late comedian George Carlin: "It's a Big Club and You Ain't In It!...". 'Nuf said.
My average holding price of FOLGF is at US $0.18 per share. If and when Falcon sells, AND IF I can come out above that level, I'll consider myself fortunate.
To help ease the pain, I think I'll again go back and listen to George Carlin's YouTube video, "It's a Big Club and You Ain't In It!...". GLTA
A post whining about the whining! One thing I will agree with you on is that no one on this board is an expert and knows what's going to happen- everyone here is guessing.
alright, ok, are all the whiners finished. . . of course, finished without in any way offering the better deal, terms, actions poq/bod could have should have taken to get the necessary funding to participate in the upcoming and hugely important 2 wells in the pilot?! . . . this board is truly one massive amateur sideshow - even the heralded newtofo wets his bed at the slightest hint of seemingly unfavorable news, sorry newtofo, and that should get a "sheesh" sent my way. . .. have appreciated over the years many of the posts, but it's now time for the genuine professional/credible commentary to take hold and the only place i see that is in the analysts'/experts' reports/notes, etc., even if they have some bias one way or another. tennyson's comment on the pilot participation noted there would still need be a raise to participate. anyone with half a brain knew there was doing to be this raise, and yes, it wasn't great bc our sp is ridiculously undervalued, always has been but for after the first amungee results and then that go taken down by the moratorium, etc. and it just never has rebounded. but that was the one stretch where the market actually was correctly, more or less, valuing the stock. . . what matters now is, assuming repeated results to the sshi, how will that affect our true valuation in regards to what fog can legitimately hold out as the price to begin negotiations and then let them begin and see where we end up! i would love to see cavendish's note, i can't get access bc based in the u.s. . . unlike the amateurs on this board - including myself - it's these professional who are going to determine valuation and negotiations parameters now and going forward! i am going to continue to watch this board for updates and factual info but all the whining, ****ging, and outright bs is hopefully filtered or certainly not paid attention to. . . as always, gla, kmg
So Tamboran/Falcon announced a 500 frac job and everyone was saying that it needed to be at least a 1000 job.
But it proved out that the frac would work with the new frac solution they came up with at the cheaper price.
However the industry doesn't think it still proves out.
The Deal by (BS) was made to simply make it through the two 3000 frac jobs this year.
As tda4falcon so aptly stated "I could pick up shares at around 9 cents today and make 230% on my money."
However, I'm too heavily invested in this stock to pick up more at this point and time.
I think that since Thomas Layman, a Falcon Director and geologist, also bought shares -- he feels it is a good investment. I feel better with that positive endorsement. He has access to more data than I have.
Yes, like many others I have been invested in this for too long and feel like dropping a few shares for a good bourbon.
If they prove out the sp will rise and then a buyout will be negotiated.
We already know the buyer -- and unless another party comes in and bids much higher -- it will merge all three companies.
My goal is to hang out for the year and see what happens.
I'm not too happy with it all but cheap Jack Daniels helps.
May have to switch to Irish Whiskey and see if that mojo magic helps us out.
Hang in there -- too much potential and no reward yet. But potential is there.
Think about it -- you buy out Empire to get a processing facility that has excess capacity to Empire's needs and Tamboran and Falcon for the better acreage potential. And then build your own local pipeline to the processing plant and by 2025 you are selling gas and continue to drill. Someone (BS) is putting the pieces together and providing the initial funding.
Even if he (BS) doesn't get it all -- he will make a windfall profit with a different buyout.
Def a head scratcher. We all knew we had to raise money. I dont understand this deal though.
Sad to see this deal you all, many have been invested for a very long time.
I'm reminded of POQ, answer when I asked him about his technical team (he did subsequently introduce a few faces):
"We don't need a technical team"
Want to see if POQ has his happy face at tge AGM. What a complete disaster of a deal. Nice to see that his exit package got bumped up before this raise. Truly don't understand those royalty deals. They make no sense.
Or......looking at what I would say is a rock-bottom/worst case scenario future low buyout price (30 cents?), I could pick up shares at around 9 cents today and make 230% on my money. Glass is always half full my friends........even when drinking a warm Irish beer.
6p nice work, could be a bottom as I can only see 6.20 on this website from today
60M+ shares issued and not quite a 1/3 to BS- who now owns over 10pct of the co. Apparently cavendish feels this, along w the royalties, is substantial dilution since they lowered their target price 13.5pct. POQ has a lot of questions to answer at the annual mtg but my opinion is just "GET THE SALE DONE".
Why not do the raise Stellar result day, up 15% or whatever, if POQ didn’t know about the raise then he should have done and if he did know about the raise that worries me. Phillip if you read theses boards you should explain the decisions so we could as a group understand better, Because at the monument there’s a lot of confusion here. Down another 4% as I write this. Did Sheffield buy all the shares?
RNS 6p
Cenkos (now Cavendish) target price reduced to 32p (from 37p) in their latest broker note published today.
Was there any reason why shareholders were not given an option to buy any shares?
Atb,
Northern
Well many are wondering about this I am too. We got a big results with the recent news so why not a big share price rise first followed by a financing.. This makes no sense. Some have posted with their frustrations and i totally understand. I think POQ has got a great deal to answer for and so does the bod.Just hurray up and sell the co POQ so we can get on our way...
Newtofo!
So glad your back - and you've recovered from your heart attack!
You are right: I'm waiting to pick up some Falcons - but at lower prices. :-)
Have a great weekend!
Marsh