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"Empire release: https://www2.asx.com.au/markets/company/eeg "Carpentaria-2H Fracture Stimulation Update We are also pleased to advise shareholders that preparations for the commencement of the Carpentaria-2H (“C-2H”) fracture stimulation are well advanced. Equipment and crew are being mobilised and multi-stage fracture stimulation is expected to commence in the first week of July. As C-2H is Empire’s first horizontal well and will be only the fourth Velkerri Shale horizontal wellbore to be fracture stimulated and production tested in the Beetaloo Sub-basin, fracture stimulation and well completion practices are being refined. Continued refinement and development of Beetaloo Sub-basin specific drilling and fracture stimulation will benefit Empire’s future horizontal wells. A period of flowback of hydraulic stimulation fluids is anticipated prior to gas production as each of the treated stages progressively cleans up. Toward the end of the C-2H production test and later in 2022, we will move on to drill the Carpentaria-4V well and drill and fracture stimulate the Carpentaria-3H well. Empire looks forward to updating shareholders on what is the most active work program in the Company’s history. "
Frac activity starting next week. First production numbers may be expected end of Aug-Sep. Fingers xssed "
This seems like great news we got some action happening. Greenlantern you take a breath now.
BtoB -- I am fairly sure that Beamreach moved on to other investments and stopped posting years ago -- unless he has been posting here under another handle -- which I doubt. Beamreach's posts were allot like yours -- as they were very recognizable for their well thought out and knowledgeable comments on the risks and opportunities.
Empire release: https://www2.asx.com.au/markets/company/eeg "Carpentaria-2H Fracture Stimulation Update We are also pleased to advise shareholders that preparations for the commencement of the Carpentaria-2H (“C-2H”) fracture stimulation are well advanced. Equipment and crew are being mobilised and multi-stage fracture stimulation is expected to commence in the first week of July. As C-2H is Empire’s first horizontal well and will be only the fourth Velkerri Shale horizontal wellbore to be fracture stimulated and production tested in the Beetaloo Sub-basin, fracture stimulation and well completion practices are being refined. Continued refinement and development of Beetaloo Sub-basin specific drilling and fracture stimulation will benefit Empire’s future horizontal wells. A period of flowback of hydraulic stimulation fluids is anticipated prior to gas production as each of the treated stages progressively cleans up. Toward the end of the C-2H production test and later in 2022, we will move on to drill the Carpentaria-4V well and drill and fracture stimulate the Carpentaria-3H well. Empire looks forward to updating shareholders on what is the most active work program in the Company’s history. "
Frac activity starting next week. First production numbers may be expected end of Aug-Sep. Fingers xssed
Neetofo, Absolutely...the good ol' days when I thought FO would bring me early retirement...lol. At least back then we could use Lanman to decipher the jargon in the news releases...now there are no news releases! Oh well, if this stock ever reaches its potential, I'm sure there will be a lot of retailers sitting pretty comfortably and that should warrant a FO alumni meet-and-greet! Cheers mate.
No worries Guernica. --- We have both been frustrated with this one for far too many years -- going back as far as Investors Village with Lanman and Beamreach, -- then onto Soly's Stockhouse site -- before finding a tiny bit more sanity on the LSE Falcon Board. I honestly think that we are finally on the home stretch, but just not sure if it will come soon enough for me to get some travel golf off my bucket list -- LOL.
I know, I know...I'm sounding a bit like Soly...maybe not such a bad thing anymore. But thanks for the detailed recap of the Mako...good for some newer FO investors to know the history prior to Beetaloo and POQ. Cheers.
Guernica -- the Mako Trough was the starting point for all the years of pain and frustration for many of us Long Term Holders -- where mistakes, moratoriums, failed wells, and delays have been the Bain of our investments. The only saving grace from all these years was Ben Law's ability to see where geologic events might have created potentially valuable basin centered gas -- like the Mako, the Beetaloo, and the Karoo.
It was confirmed a few times over -- with a number of wells drilled into the Mako Trough -- that shale style gas deposits were in place with what the data showed as potentially many TCF of gas -- primarily in the Sloznok formation. However, that formation was not conducive to fracking the long lateral cracks that are necessary to drain the majority of the trapped gas molecules.
One of my biggest concerns with the Lower Kyalla formation was the geology -- which is significantly different than the primarily quartz make up of the mid-Velkerri formation. The mid-Velkerri is primarily a brittle quartz rock structure that is very conducive to fracking with longer lateral fractures that will drain the gas from the formation. The Sloznok formation in the Mako Trough -- (which was up to 1000 feet thick over large sections of the Mako Trough) -- is even worse than the Lower Kyalla -- as it was primarily a sandstone formation that wasn't conducive to fracking.
The Mako Trough was, for all intents purposes, clearly written off as a potential shale gas resource after Exxon spent 55 million drilling the deepest water well in Europe -- and Exxon abandoned any further expenditures. The Mako Trough is not dissimilar to many shale gas deposits around the world, including vast tracts in China -- where the geology is just not conducive to fracturing long lateral cracks that have been proven to work in the Marcellus, the Barnett, the Montenay, and now the Beetaloo.
Perhaps FO is too small...but they also had a game-changer in the Mako trough in Hungary. Something anger than the world had seen before. Would have eliminated Russian gas dependency in Europe...enter Gasprom and suddenly the Mako is a dud...and so move on.
IF (and I am emphasizing IF) it turns out that Origin was so incompetent that they have failed to secure a drilling rig for this year's drilling of two 1000 meter horizontals at the Amungee site -- then the current share price will be the top of the trading range for the next year and not the bottom.
Since Origin is one the largest conglomerates in Australia and the largest square kilometer permit owner in the Beetaloo (with the potential for drilling rig work over the next decade or two in the 100's of millions) -- I highly doubt that they have been unable to secure a drilling rig.
Since Origin has known that they would require a rig for this coming drilling season for almost a full year now -- I am of the opinion that some of the preparation work is currently underway and that Origin is doing it's best to keep a low profile until the rig and all the ancillary support equipment are on site and away from any Lock the Gate blockades.
As far as conspiracies go -- Falcon is entirely too small an entity for any real international intrigue. The most logical answer to the current share price is both a lack of news and the newest time line for clarity on commerciality being into the beginning of next year most likely.
If anyone doubts where Falcon is at currently in the process of showing that commercial production is most likely coming -- I would highly recommend reading BorntoBouggie's post from June 14 that was posted at 22:20.
Unfortunately I am rather to be wrong on this one and kicking myself for selling significant chunk, but looking at this now decision appear to be correct. I basically moved maybe about 70% away from Falcon to Empire and Tamboran. With Empire taking about 40% and Tamboran taking around 30%. So final breakdown is 30% Tamboran , 30% Falcon and 40% Empire. Empire taking largest chunk since they will have fastest result. Very similar what Sheffield did but on the much smaller scale
I suspect the answer is much more simple. Origin f..ed up on the rig reservation and had to change the program. POQ did not want to press issue with Origin because it is truly does not matter since now Tamboran and Empire doing all the job. Now only problem is retail shareholders who are waiting but they have been waiting for 10+ years so they can wait another year.
Oh yeah, and suddenly, about the same time as this World Order shift, we have Vicktor's shares being confiscated and now "legally" can be sold off at remarkably the same time a new counterpart enters with name of Sheffield...hmm.
Here's one to pass the time... This stock has been stagnant for 15 years. Why? It makes absolutely ZERO sense unless it has been manipulated since day one. And NOW more than ever would be the best time to capitalize onebwould surmise, yet crickets. Perhaps some powers that be do not ever want this to materialize? Perhaps both the US and Russia (currently fighting over Oil and NG world dominance) have put pressure on this not to be brought to fruition. First Russian persuasion (Viktor) and now US persuasion with newly applied sanctions. Just a thought for the day...conspiracy theories surface when things just seem a bit "off"...