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Well put WetWater. And, given that we already have the 1.94 tcf (Falcon's share) contingent resource of the Velkerri dry, rep'ing only 12% of the known acreage, with Santos showing great shows on a vertical frack - I don't think we have to hedge with any sort of "if this project is a failure" - it's already a success w the 6.6 tcf, a tiny fraction of the potential - the question is when will the share price reflect that value and what is the real, I mean real, upside from here, starting with the Velkerri dry and going from there, whatever the scenarios. . . Now, what matters is the task at hand, execution of the frack and great results in the Kyalla! All the best, KMJ
Once again: It's amazing how people on boards such as this are as qualified or much more qualified than those actually running the companies. There appears to be so much management/geological/engineering talent being wasted on this and other chat boards.
Many on this board are rather short sighted as to the performance of Philip. I personally was very appreciative that he was at the helm when HESS tried to roll over Falcon and Philip took it upon himself to call their bluff. He took their millions of dollars in seismic and I didn't even say thank you - pretty tough negotiator who was willing to lay his balls on the line when push came to shove. He parlayed cutting HESS loose into the very impressive farmout with Origin that left up with $20 million up front and a $180 million 9 well carry with the most respected energy in Australia. Maybe POQ was overpaid for the period of the moratorium and trying to work with Origin though the new fracking regs but I expect we will see his value again when it comes time to appraise/sell Falcon's 30% interest in the Beetaloo - POQ told me he planned to get every last dollar out of this once in a lifetime deal. For anyone on this LSE board that presumptuously believes they are better equipped to carry this project through a successful conclusion please speak up and lay out your plans - I expect to hear crickets!
As Buckeye so astutely points out, nothing is going to positively affect Falcon's share price until we obtain successful results - meaning a 24 hour flow test followed by a nice EFT. Falcon is a very small oil/gas stock and like any minor oil company, results are going to drive the price. Most of us on this board understand the risk involved in the Beetaloo. Buckeye can call it mental masturbation but the 6.6 Tcf contingent resources discovery offers us hope that the Beetaloo can 'potentially' become the largest commercial shale play outside of the US. Yes - I can appreciate that those are contingent resources and not yet commercial reserves but that's why many of us are in this investment - huge upside potential. With that said I would caution everyone to keep the real risk of this exploration/appraisal program in perspective - ths money is not yet in the bank.
One additional thought - if this project is a failure then POQ's salary won't make a material difference to the price of Falcon - If this project is a success then POQ's salary won't make a material difference to the price of Falcon. Best focus on the Kyalla and Velkerri Wet horizontal tests and classify this next 18 months of POQ's salary as an immaterial cost to Falcon's 30% interest in the Beetaloo concession. Good Luck All!
Regarding Simply Wall Street check some of there other missives. They are basically boiler plate commentaries, with a company name and some data thrown in. This is not a service for real investment advice.
I, like many here, believe POQ is OVERPAID, but so is Anne Quinn, CFO. I don't begrudge them for their compensation. Many on this board could perform at least as well as POQ has and would appreciate milking that salary forever. Quickbooks, rather than a CFO, would have sufficed to date. Blame compensation committee directors Smith, Mayorets & Gilbert. BTW they are the same directors for the audit and reserves committees as well. That is common for companies of this ilk. Benchmarks tend to be more accurate for 'real' companies.
I don't know how most posters found this thread on the LSE, but as in my case, suspect it was recommended by POQ.
BigOnes & Poods: hang in there. I'd much rather read about real concerns affecting the company and hence share price, than read repeated defense of POQ. NOTHING is going to affect Falcon's share price until we read about the successful results in the Beetaloo. Until then, it's all mental masturbation & ego (some believing more knowledge than the rest).
Let's hope we receive positive results, sooner, rather than later. Good luck to all.