Stefan Bernstein explains how the EU/Greenland critical raw materials partnership benefits GreenRoc. Watch the full video here.
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Last week the NTG detailed their plans for a gas pipeline from Beetaloo>Darwin and then today, there is this development. It seems developments are afoot
Thanks, ITguy.
I had noticed the same problem with another stock earlier, but as it was during trading hours, showing an impossible increase in price from the previous day's close, I knew something was wrong and then when I looked at the trades, they were from February.
So, I have to ask other posters to disregard my previous post.
The price hardly went up, after all!
The LSE website had issues today. Some type of backup till Feb for pricing and trades.
I thought I checked the share price this morning, but maybe I was distracted, and have only just seen it.
I was surprised when I saw the closing price.
I do not wish to argue with anyone here, but it's strange: usually, when a share price slumps, the management is excoriated by posters who complain that they aren't doing anything to support it.
In this case, with the price having fallen 82 percent from its peak, dragged down by an out of favour oil sector, and then by the general stock market crash and oil price collapse, the price doubles from its low, rising by about 75 percent in one day, and the BOD come under attack!
I have just read this comment:
Not only does the deal secure Falcon’s position in Beetaloo, without dilution or equity risk, it also essentially defines expanded investment from Origin – which is particularly significant given that most in the sector are aggressively cutting back on capex and growth plans...
Huge volumes of gas could potentially be unlocked for export into energy-hungry Asian markets.
https://www.proactiveinvestors.co.uk/companies/news/219819/falcon-oil--gas-is-set-to-ride-out-market-uncertainty-thanks-to-new-farm-out-219819.html
I averaged down for the seventh time at 5.525p, although I had intended to buy nearly two-and-a half times as much at 5p, and now wish I had.
I have no intention of selling.
If James McCormack at Cenkos is calling this deal "fantastic" than it is at least good if not very good , alongside a reiterated Buy recommendation. His May 2019 Research Note is very thorough and valued Falcon's Velkerri dry first find at US 30 cents, so that takes a bit of a hit now bc of the reduced percentage - but remember, that 30c was for only, as he sees it, 12% of the acreage - it is likely that the vast majority of that remaining 88% has the stuff similar to what the Amungee frack showed, Santos announced a discovery on a Vertical frack due east! . . . This is a very uncertain time in the O & G industry, and this shows Origin's commitment to the Beetaloo, this gets us well thru this COVID 19 scare and very well positions us to benefit on the upside, yes at a slightly reduced percentage, but still clearly a Buy from McCormack, and the guy has great credentials. This sucks right now and has been tough, but we, the world, Aus and the NT need to get past this pandemic scare, get to second half of this year, frack the Kyalla, move into 2021, drill and frack the Velkerri Wet - assess, evaluate and position for stage 3 in 2021, which in the end may be 2 more killer wells for the Velkerri massive dry play - and then we are really talking about value here. Poods, I'm 7 years into this, by this time next year it will be 8, and I'll tap into a bit of Chinese superstition with lucky number 8. This must and will turnaround and bounce back hard, hurts and sucks now, but we have to look now with laser focus to the second of of this and into next year. . . All the best, stay well, KMJ
STOCK IS UP... someone is buying? I'm sure the price will settle back down before days end. it always does. if not for the premium, this would be the BEST STOCK in the world to day trade. We have 3 options...
1. get in.
2. get out.
3. ride this horse all the way to the end. again... LOLOLOL. hang tuff people... God help us.
I still feel there are powers working behind our backs... BTW... THE U.S. market is up 11% this morning... ??? what up with that? Must feel it's GREAT NEWS. I'm sure it will settle back down (it always does) if there was no premium, this would be the BEST STOCK in the world to day trade. just sayin'
While this agreement dilutes our interest in the Beetaloo, it is reasonable under the circumstances. While we missed a great golden opportunity long ago, this deal shows the indicated strength of Beetaloo geology. If this works out as I am hoping, he will do well and hopefully investors will do okay. I have now been in this for 10 years and 2 weeks, as have several of you. 98% of the time has been miserable, but "no pain, no gain". Best to all of you. POODS
sold 10%... still in deep. I'm not letting go. I feel the Cigar sucking pieces of crap are longing for us to sell. The powers that be have something up their sleeves. imho. I appreciate the anger that we ALL have but angry people make big mistakes... don't want to do that. I will let the smoke clear and see what happens. I am at the mercy of God (and a few twits like POQ. LOL TAKE CARE, MY FRIENDS AND BE SAFE.
Sold almost all of my Falcons last year and doubled my money but I still hold some angry birds. I'll sell at CND 0.13 or perhaps 0.12 as this would not bring me a loss. If you hold a lot of shares, be wise and don't sell now when everybody is in panic mode. The future is probably still bright for this company but I'm done.
MARSHMILL... You still got 'skin' in the game? If so, what ya gonna do? Sell for 5 cent American? Everyone heading for the doors? Just Curious.
Then from what you are saying this board might as well be closed down, and the project for current investors is a total loss? No opinions matter anymore, POQ can be let go of, and basically we just handed over the keys to Origin? Me.....I am in this up to my nuts, and just have to believe that I didn't just wait 11 years for nothing. So I ride this roller coaster to the end, and just see what this really means outside of opinion on this board.
Rocket -
On the other hand, POQ is still needed to develop the Mako and the Karoo.
LMAO
Maybe this is the BEST thing for the LONG RUN because it will take POQ OUT of the equation as far a decisions? Just food for thought. My glass is half full. What say ye? LOL BE BLESSED & GLTA...
Newtofo, this implies that POQ is not needed anymore. ;-)
Falcon came out with their own press release this morning -- saying they were pleased to announce the changes, but they forgot to mention the two main points of this newly revised JV. One: Falcon has effectively had it's nuts cut off as Falcon effectively has no more say in anything that takes place in the Beetaloo. While Falcon is still the permit holder -- Origin now controls everything going forward right down to having "flexibility" in any future farm down scenario -- which indicates that any buyer of Falcon's interest can be vetoed by Origin. Therefore, Falcon would appear to have no sure way of selling.
"In addition, Origin and Falcon have agreed to changes to the joint operating agreement,
including amendments that provide Origin as operator with control over the timing, direction
and budgets for future project activity, as well as flexibility in any future farm-down scenario,
within the Permit areas".
Two: Origin has completed the takeover of Falcon's interest in the Beetaloo with the following statement -- as Origin can now delay the Stage 3 to whenever they want in the future by just stating the economic conditions aren't right at this time. Falcon is now just a bystander with no say, no input, no control and maybe no future with this revised JV.
"Origin is able to defer exploration and appraisal activities beyond the current Stage 2 drilling
campaign given the current economic conditions, working within permit obligations".
One of the reasons I've sold most of my Falcons last year was that I didnt trust POQ anymore. This new farmout confirms my assessment of POQ. I'll sell the rest of my Falcons as soon as they are above CDN 0.13.
WTF what’s going on a 25% reduction in our holding. For what. Clarification must be coming. It’s a crappy world at the moment with a lot bigger things going on. Perhaps that’s why they pushed this through now hidden under the radar.
It’s about time that we were treated honestly. Time for a change in leadership. These 2 are nothing but a pair of leprechauns. I strongly urge all to complain to the TSK group and the LSE.
Perhaps a panic reaction?
Very strange strategy of the FOG management to sell a part of our most important asset when the oil price shows new low- lows. Would expect they sell it when the oil price is high, NOT low.
Well, POQ's certainly not acted in the shareholder's best interests so in whose interests as he acted?
This is so out of the blue to raise suspicion
Political pressure
Greenlatern: I beginning to look in the mirror and see an idot! I honestly don't understand why Falcon would give away 25% of the Beetaloo concession to Origin for $25 million. Even with that they also seemed to have given away any timeline control. Hopefully Falcon will come out with an announcement giving the stockholders their reasoning for what I interpret as selling on the cheap before the Kyalla and Velkerri wells are completed. IMO Falcon has sufficient funds to see their way through the stage2 wells so why now??