Sapan Gai, CCO at Sovereign Metals, discusses their superior graphite test results. Watch the video here.
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Newt, I can't say I'm happy to hear that you are now saying basically what I have been saying. I've been looking for alternative theories for what may happen other than- "there is no reason to buy FOG anytime soon other than a lowball offer from BS or his friends". I think $500M is optimistic given he can keep accumulating stock cheap though. I think our best bet is he tries to take us out cheaply and someone else (or more) decides it's worth a bidding war. And if he can keep picking up chunks at $.06 and get his friends to buy out at $.30 or $.35, he may cover his interest in the beetaloo while he waits for that $2-3B offer down the line. The rich get richer.
Margaritaman: Ouch!! You really hurt my feelings - :^) You really need to focus on the bigger picture than POQ or myself! Lots of things coming up for the Beetaloo beginning late in the third quarter of this year. The dynamics of this concession are about to change. Soon you will have other things to concern yourself with than simply ragging on people. Stay Tuned.
Love - WW
Oleo -- posted "Did we ever hear that sleepy POQ set up a relation ship, started to talk with these companies for selling FOG".
I am fairly positive that POQ and the CEO for Inpex have met in Darwin during past oil and gas conferences, and that Inpex has been following the entire Beetaloo gas story with great interest -- especially given Inpex's desire to build a third LNG train in Darwin before 2030.
Before Inpex can even start to build that third LNG train -- they will need a secure and reliable source of at least 5 TCF of gas to keep that third LNG train in operation for 20 years. Inpex could also benefit from Beetaloo gas, once the pipeline for large quantities of Beetaloo gas are flowing to the Darwin LNG plants, as the low 4% CO2 gas from the Beetaloo can be mixed with their very high 18% CO2 gas from Browse basin -- to help reduce their CO2 footprint on gas going into Japan.
One of the major hurdles with Inpex, and other large LNG importers into the Japanese and Korean markets -- (like JETA, and Japan LNG) is they are run by civil servants and are somewhat risk averse. These type of Sovereign Wealth Fund managers will generally be happier to pay a much higher price for access to large quantities of Beetaloo gas -- once the big new pipeline (that will be required to move trillions of TCF of gas to the Darwin area) is almost complete. These civil servants are very unlikely to spend a half billion dollars for Falcon in the next year or two (with no guarantees on when that pipeline will be completed) -- as the lengthy environmental and gov't approvals have not even reached a starting point yet. These mandarins at Inpex, and others, would rather buy out Falcon's interest for twice that amount once the pipeline is fully underway and they have a guaranteed access to Falcon's Beetaloo gas in 2028 or beyond??
For those reasons -- I am looking to hear, (after the next two 3km horizontals), that either corporate associates of Brian's, or wealthy family trusts in Texas -- (that have seen the DATA room), are looking more at Falcon's future potential 20 TCF of gas from the Beetalooo. Maybe we could see one of these family trusts, or someone like EQT, pony up $500 million US next spring -- for the very real potential to wait five or six years for that $500 million investment to be worth upwards of $2 to $3 billion??
Big energy companies look to make tax, investment and income plans decades in advance and so there will naturally be those interested in falcons share of a long term development project.
June 18th can’t come quick enough. Can’t wait to hear the rational for how he has brought us value and what he is doing about it. Makes you wonder if any news will make this stock move other than a sale. And what’s the hurry to buy us since we gave up so much and this block will take several years. Don’t understand the private 6p raised. Don’t understand giving up so gas on this block. Trying to….feels like there is no plan here. Just shooting int he dark, working a few weeks a year, and collecting a big check.
Looks like that is what market was waiting for at least for the Empire and Tambo. Good Volume last night with some good looking gains. I am little surprised that falcon is unchanged.
Oleo, how dare you speak poorly of POQ! Cue the long winded retort from WW, or as I like to call him Mr Verbosity.
From a Santos presentation about the DARWIN LNG (DLNG)
https://hotcopper.com.au/threads/ann-2024-macquarie-investor-conference.7993608/#post-73738284
Project snapshot
Total Capacity 3.7 Mtpa
Reserve &
resource size1
Total Northern Australia 2P Reserves 2,045 PJ
Total Northern Australia 2C contingent reserves 4,679 PJ
Operatorship Santos
Ownership (Barossa) = offshore gas field
Santos 50%, SK E&S 37.5%, JERA 12,5%
Ownership (DLNG)
Santos 43,4% , Inpex 11,4%, ENI 11%, JERA 6%, Tokyo Gas 3,1 , SK 25%
Customers Diamond Gas International2 (Mitsubishi) - 1.5Mtpa, 10 years
Expansion
potential
Petrel-Tern
Browse Basin (Crown, Lasseter, Poseidon)
Betaloo and McArthur Basins
Third party gas
All of these facility owners of Darwin LNG (see ownership list) could be potential buyers of FOG. Did we ever hear that sleepy POQ set up a relation ship, started to talk with these companies for selling FOG? Does this guy even know that he has to create an environment with more than one competitor if he wants to sell FOG. Or does he follow his secret plan not to sell FOG? LOL
Gas as a pillar of Australia’s future
9 May 2024
excerpt -
Beetaloo Basin: A Game-Changer in Australia's Energy Landscape
Amidst this strategic pivot towards gas, the Beetaloo Basin emerges as a focal point of Australia's energy ambitions. Located in the central-northern part of the Northern Territory, this geological marvel is touted to possess globally significant shale gas reserves with transformative potential for Australia's energy market.
The Beetaloo Sub-basin covers approximately 28,000 square kilometres and is estimated to harbour a staggering 500 trillion cubic feet of gas, primarily in the Velkerri B layer. Such reserves have the capacity to revolutionise domestic supply security, drive advanced manufacturing, and facilitate cleaner energy production.
Notably, this abundance of gas resources far exceeds current domestic consumption levels, underlining its potential to reshape Australia's energy landscape significantly.
Presently, three key players within the ASX are actively engaged in developing the Beetaloo Basin. Empire Energy (ASX:EEG), Tamboran Resources (ASX:TBN), and Santos (ASX:STO) are spearheading efforts to tap into this immense resource potential.
As these companies continue their exploration and development endeavours in the Beetaloo Basin, the region's significance as a cornerstone of Australia's energy future only grows, promising economic growth, energy security, and environmental sustainability on a monumental scale.
https://www.sharecafe.com.au/2024/05/09/gas-as-a-pillar-of-australias-future/
TBN is up 14% I assume because of this new.
Other than our recent flow rates…this is some of the best news we have seen in some time. Not sure it will move the needle but indeed great news.
This is very good news. I do wish that the artilce would also point out that the components of natural gas liquids have lots more uses and in many cases there are no other potions. NGLs are critical and not just as fuel. NGLs have end uses in every sector, i.e., residential, commercial, industrial (manufacturing and agriculture), transportation, and electric power. While the use of propane is a fuel is critical for the roughly 1/3rd of the world’s population that uses wood, which is much more pollutive from any standpoint than propane and the people desperately need it to advance and improve their lives. Ethane is used in plastics, anti-freeze, detergents and for power generation. Propane is also used to dry grain and in plastics, butanes are used for petrochemicals, for plastics, synthetic rubber, and various components are used in paints and solvents.
Thank you Schlemiel awsome news
Should encourage risk averse investors to pump cash Beetaloo
**''The strategy will underscore the importance of projects, such as Woodside’s Scarborough LNG project off the WA coast and the Beetaloo Basin proposal in the Northern Territory''**
You can see how Beetaloo is now being treated as a strategic gas resource
It is unclear what, if any, implications it will have for the reserve capacity mechanism, which is a back-up that ensures there is sufficient generation capacity in the grid. Energy Minister Chris Bowen and his state counterparts negotiated a mechanism that excluded gas.
A week ago, Mr Bowen argued Australia had no option but to seek new supplies of gas even as the government accelerated the rollout of renewables.
Labor has struggled internally with the politics of gas because of pressure from the Greens and elements of its own party to veto new developments and wean the nation off the fuel. At the same time, it has had to deal with the reality of the energy transition and the demands of its industrial base.
But Ms King, who has always argued internally that there can be no energy transition without gas as a firming fuel, says those calling for the end of gas were unrealistic because it would be needed “through to 2050 and beyond”.
“The energy transformation will take time – it will take investment in renewables, new industry processes, new technologies,” she said.
“Turning off gas overnight would do untold damage to our economy, impede efforts to get to net zero here and have a severe impact on our region, which is the fastest growing in the world.
“Pretending otherwise is counterproductive and won’t help Australia and our region get to net zero by 2050.”
She said it would remain a vital component of manufacturing and, in that vein, a necessary part of the government’s Future Made in Australia policy.
Gas is also needed to smelt and refine critical minerals which will help Australia and the world lower emissions.
Nor, she said, could Australia leave its gas-dependent trading partners such as Japan and South Korea, high and dry.
“Australia is and will remain a reliable and trusted trade and investment partner,” she said.
“Our trade partners have made large investments over decades in Australia’s resources industry and are relying on Australian gas to transition their economies to net zero.”
Ms King said the strategy would be underpinned by key principles, which included Australia remaining committed to net zero emissions by 2050 and that gas must remain affordable for domestic users throughout the transition.
https://www.afr.com/politics/federal/labor-backs-gas-to-2050-and-beyond-20240508-p5gipm
Phillip Coorey - May 8, 2024 – 10.30pm
The Albanese government has shed its ambivalence towards gas, adopting a strategy that locks in its use beyond 2050 to underpin renewables, power manufacturing, and help trade partners manage their energy transitions.
Resources Minister Madeleine King said the Future Gas Strategy, to be released on Thursday, will be “based on facts and data, not ideology or wishful thinking”.
It will include measures to help abate emissions from gas production in a bid to dampen a backlash from the Greens, teal independents and elements of the Labor left.
These measures will include promoting the use of carbon capture and storage, long advocated by companies such as Santos, and minimising the release of methane when gas is extracted.
At the same time, the strategy will contain initiatives to facilitate the increased extraction of gas including the introduction of “use it or lose it” provisions to stop companies sitting on untapped reserves.
“Our electricity markets must adapt to remain fit for purpose throughout the energy transformation, and we will assess so-called ‘use it or lose it’ provisions for retention leases, to get the gas we have already discovered flowing sooner,” Ms King said.
Last month, the West Australian government urged Canberra to flex its “use it or lose it” powers on energy companies that hold the rights for major offshore gas fields.
The WA government recommends the Albanese government no longer extend the retention licences on these gas fields, which would force the titleholders to develop the assets or lose them within five years.
New investors will also be needed.
“The strategy also makes it clear that we can’t rely on past investments to get us through the next decades, as existing fields deplete,” Ms King writes in The Australian Financial Review.
“That will mean a continued commitment to exploration, and an openness to the kinds of foreign investment that have helped build the industry into the powerhouse it is today.”
The strategy will be a foundational document for the government and is similar in intent to the Morrison government’s gas-led recovery. That was proposed by Scott Morrison as the nation emerged from the pandemic, but was derided by the then-Labor opposition.
The strategy will underscore the importance of projects, such as Woodside’s Scarborough LNG project off the WA coast and the Beetaloo Basin proposal in the Northern Territory. However, such ventures would still need to clear the usual environmental and other approval hurdles.
LNG was Australia’s third-largest export last financial year, accounting for 14 per cent of all export income.
It is unclear what, if any, implications it will have for the reserve capacity mechanism, which is a back-up that ensures there is sufficient generation capacity in the grid. Energy Minister Chris Bowen and his state counterparts negotiated a mechanism that excluded
I have at times recommended that POQ send his resume to Santa.....but this fell on deaf ears. Ok Another option would be Barnum and Bailey and he can take Anne with him. > If she can bleach her teeth she may have a chance. POQ should be able to fit nicely into a clown suit. As for Anne.....not really sure what suits her.
I thought I would mention while, slowly still adding to my position, this last financing in part is the result of our “yesmen” board of directors. POQ has done a few good things, but inherited the only decent part of the mess Bruner left behind with the exception of a great property and 2 unknown ones.
If POQ had listened and done a financing years ago when FOG traded above $0.25 and the board realizing POQ and themselves basically “caretakers “, there would still be funds to have completed our full commitment in my opinion.
POQ has an appropriate option incentive that potentially rewards him if Briner’s contributions prove salable.
I suggested he be compensated at about $200,000 for the couple weeks a year he needs to work. Ann is fairly paid for, like POQ caretaking her area of responsibility. In the end our board of directors whose compensation is an enigma to me hold responsibility for where we find ourselves now.
BS with brains and deep pockets and those of us with no other real choice, can only sit in horror. POODS
I think you nailed it.
Margarita Man: And if I had a million dollars for every positive contribution you have made to this board, I would still be dead broke. If my comments fits, be a big boy and wear them. If not come up with something positive rather than whining and crying about something you are obviously not going to change.
Yours Truly - Wet
Big boy pants…..too funny. Same crowd of jokers pumping this stock forever. If I had a $ for every word WW has pushed out about FOG on this board I would be as rich as Poods. : )
The reality is that going in at 5% or 22% might affect our sale price but it has nothing to do with our current share price. Tamboran are in the crapper too at 16 cent Australian and they picked up 50% of our 17.5%. theses next 6 wells sound like they are going to be the most expensive wells ever drilled in Australian history let alone the Beetaloo so being at 5% will have saved a lot of dilution whether you like POQ or not. It might reduce the final sale price but I'll bet it's likely to end up being a similar figure for us all at the end of the day. Like 500m offer at 1bn shares issued vs 1bn offered at 2bn shares issued. I know we keep saying it....wait till the next well. But let's face it all wells up till now have drilled and managed by numpties. We now have a crack team who have drilled a successful well albeit a shorty. It's enough to put us on the map but until we drill at least 6 wells in a row with decent flow rates that hold over 90 and 120 days no one is putting a decent offer in. The positives are the flow rates off the shorty were great, the fracking experts want in and bought equity and that is massive as they know rock, and the rig company also bought in for equity which is great and we have a decent team at the helm so while the share price is currently crap (and to be fair that's understandable) things will turn pretty quick if the next 6 wells stand up the geology. And still we wait for the bus to come.
Tda4falcon: Wise words to this board - I only wish some on this board would read and understand!! Some need to put on their big boy pants and deal in the realities of Falcon or sell and move on to their more perfect investment.
I'm not ecstatic about our current situation but it is what it is so I either accept it and change my expectations or sell and move on. Pretty simple really. Whining and crying about an investment doesn't help anything or anybody.
Too late for that. We ride that horse that brought us. Negative chatter does nothing but focus on the negative. When an offer comes, you can bash/cry/cheer/celebrate/ect. We all will react differently given the share price offered, and how we are all positioned. This constant "remove POQ" sentiment won't happen. Smile, and look forward to your return on investment.