Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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I'm sorry in advance. But why would he ever take Falcon out?
At every stage along the way POQ's inability to create a viable array of funding options just results in further dilution of the interest? Sheffield isn't stupid, he will play that cycle as long as he can.
There's no sign of it stopping, the pattern is relentlessly consistent.
Needs to be remembered that if he buys lots cheaply, he can pay more to buy out the rest as his stack has cost so little and his average takeover price will be between the two.
It's needs an additional party to also try to bid to get fair price - such as happened with cove energy.
Jumped from around 10-20p to 70p with first offer and then more bidders appears, £1.95 Shell, £2.20, final sale was 240p ish. Remember shareholders get to vote on accepting a takeover.
That's the type of scenario to get fair value.
I would definitely be looking at well over a billion to get near fair value, but it will need more wells. Hence the recent raise really was a positive.
If Bryan Sheffield is busy loading up with shares @ 6p then I assume he thinks (so do I ) they are worth a lot more than the current SP of 6.5p !
Tired states,
"Selling price > share price. Price is based on the assets not share price. Sorry to disappoint you."
Well let's hope the sale price is higher than the share price since the share price is so stunningly low. And I believe it will be, just not by that much. And while the sale price should fairly value the assets (among many other things), the share price should also reflect the value of the assets, the business, the potential, etc and the market is telling us it's worth about $.09 US. It's worth exactly what someone is willing to pay for it.
Shank, I am confused by your post. The goal has always been to sell. The goal line just keeps moving.
Scinceday, Q2 is what was reported but it appears TBN is still waiting for EMP approval.
https://depws.nt.gov.au/onshore-gas/environment-management-plan/emps-under-assessment
Frackme, agreed. I also think there is risk of getting taken over and taken private.
...already...
With the signing of the binding GSA agreement amongst all interested parties and recent additional marketing, it would appear they are moving forward at this point. The upcoming announcement of the IP90 flow rates will merely confirm to us what they all ready know. My guess is that's a good thing.
I know things haven't gone our way lately but there are new holes on the horizon. Has anyone heard when these might be kicking off ? All i remember is 2nd quarter but have they said anything more specific on when these might be started ?
Not necessarily relax .
Sale price is actually based on what the majority shareholding will take for the company and the larger BS holding gets the smaller that number gets.
Selling price > share price. Price is based on the assets not share price. Sorry to disappoint you.
It's clear now that our leadership path is to sell FOG. Dissapointing to me and I'm sure many others on this board. This stock has been and will continue to be manipulated until that sale occurs at a bargain basement price. Dissapointing.
Great post gonoles -- and maybe some of Tamboran's constant promoting will rub off on the other JV partners who have very little??
Here is a short promotional video on Liberty (from a post by fitz65 on the HotCopper board) -- who will soon be in the Beetaloo for the next two horizontal fracking jobs. Seems like allot of the pieces for technical expertise are moving nicely forward in conjunction with gov't support, funding and infrastructure capabilities.
https://www.youtube.com/watch?v=-1MjeC46Pag
Https://www.linkedin.com/feed/update/urn:li:activity:7188784803159199745/
Video of the Chief Minister on location at Tamboran -- pretty good endorsement I think.
https://themarketonline.com.au/tamboran-signs-gas-sales-deal-to-supply-the-top-end-2024-04-23/
News being carried online.
Northern Territory News had another good article but couldn't find the post past the their subscription requirements.
https://www.skynews.com.au/business/energy/tamboran-resources-secures-energy-supply-deal-with-the-northern-territory/video/96e93e3b12b295d3e2df95a4335f202f
They say they will be selling gas in 2026.
I guess it helps to have someone with marketing experience on your board.
A year ago I would have said this is great news. Government supports has always been a wildcard with FOG. We have lost over 50% of our stocks value since the release of our great flow rates. I hope there is another investors meeting so some of questions will be answered.
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.