Rainbow Rare Earths are raising £6.4M in a placing to fund future development at Phalaborwa and Gokara, and George Bennett RBW CEO presents live from Johannesburg next Tuesday evening. Register here.
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All eyes on this board should be focused on the Tamboran Tamburini 2H and 3H (T2H and T3H) wells being drilled in the Beetaloo Basin. Tamboran are in partnership with Santos and their target is the Mid- Velkerri B shale i.e. the same geology that's prevalent in Origin/Falcon's acreage in the Basin. Many of you of course know that Origin/Falcon spudded their vertical pilot well in mid August this year to target the same rock formation to assess hydrocarbon maturity, saturation and reservoir quality in order to inform future horizontal drilling and ability to flow liquids rich gas (hopefully next year). However what's likely to be equally helpful to our team (and the Market) later this year is that Tamburan and Santos completed their T2H well in July at target depth 3800 metres and their T3H well in early September at target depth 1080 metres (ahead of schedule) and confirmed they intend to drill a horizontal section at both depths 1000 metres in length and fracture stimulate and flow test both. Results now expected during the fourth quarter this year.
Santos and Tamburan confirm that previous drilling to date has helped them to substantially cut costs in EP161 and the outlook for dry and wet gas prices has substantially improved in 2021 as demand has risen and there is an effective cap on supplies in different regions of the world and alternative products have been shut down. It's helpful too that both main political parties federally and in the Northern Territories are supportive of this project.
Whatever the financial constraints of Origin in 2021, prospects for Falcon and design next year of the Origin/Falcon drilling programme and ultimate sale of their interests first half / early second half 2023 will be most influenced by the results of this EP161 well. Current views of Santos and Tamburan on their outlook for the Beetaloo are discussed in more detail on their websites and therefore investors would be wise to add news releases by these companies to their reading list at least over the next few months. Other oil and gas websites have also commented on this significant Aussie shale play.
If we can commercialize our interests there ought to be a six bagger from the current level but if our contractors can overcome the original difficulties and new challenges in the Kyalla before the end of the year our prospects will be even better.
in the meantime our recoverable reserves are being discounted in the Market at greater than 50% annual rate.
Darnitagain your thread has been informative thanks I can see you are a fatigued but experienced long. I do like to get all sides. Would suggest you read it all again yourself to see the amount of posts you did in one day at a time back in the day. My take away from your thread is you think Origin are a bunch of clowns and are incompetent, they don't have the experince to drill shale wells and they over spend. You are hoping that Fog slow down and the surrounding players Santos and Tambo speed up so that they can prove it up before Fog, so that in turn might make Fogs price rise and Fog may get a buy out quicker. Correct me if I am wrong on any of these points.
Just trying to gather the history here. Falcon has been informed that the Bankruptcy Estate of Petrohunter Energy Corporation is the beneficial owner of 48,101,000 common shares of Falcon (“ Shares ”), representing 4.90% of Falcon’s issued and outstanding Shares. Sweetpea Petroleum Pty Ltd. is no longer a beneficial owner of Falcon Shares."
I don't understand why Sweetpea is mentioned as the holder of the shares that were held to satisfy Petrohunter's debt obligations. Sweetpea is Bruner (unless I missed a step over the years).
Anyway, I'm happily looking forward to seeing an end of the mindless programed daily selling of shares.
But will go back to telegram and leave you in peace.
Apologies new to Fog and have just started researching tend to post as I go, Darnitagian just a couple of questions if you don't mind. I see you aren't a fan of Origin and their overspend over the years. The company says it is debt free yet have a retained deficit of $395.2 million can you tell me how did that occur and is that booked losses for tax purposes? And can you give me the history of Mark Bruner and how he was connected to Fog. Also are you still keen on Mako or is that defo on the back burner. TIA.
Jarv, give it a rest, for goodness sake!!!!!!!!!!!!!!!!!!!!!!!!!!!!
According to the company, the Velkerri will deliver gas due to its favourable mineralogy and rock properties, the above average geopressure and good to excellent shale permeability. The Velkerri shale is charged with a liquids-rich gas providing an economic kicker on development. The total potential prospective resource in the Velkerri B shale unit alone is estimated by Geoscience Australia to hold between 50 and 100 trillion cubic feet of gas assuming only 10-20 per cent recovery of the estimated 500 Tcf gas-in-place. Geoscience Australia is the Federal government’s pre-eminent earth science organisation.
Gas will help re-establish a strong economy as part of the Government’s JobMaker plan, making energy affordable for families and businesses and supporting jobs as part of Australia’s recovery from the COVID-19 recession.
Prime Minister of Australia, Scott Morrison
The government believes that development in the Beetaloo could produce 6,000 jobs by 2040 and increase economic activity between $18 billion and $36.5 billion over the same time period.
While Empire is something of a frontrunner in the race to develop the Beetaloo, it is keeping good company with major players Santos and Origin also in the race to deliver first gas from the Beetaloo to market. Should the much-vaunted $21 billion Santos-Oil Search merger go ahead, Empire would be sharing the basin with one of the top 20 oil and gas companies in the world. The neighbouring operator’s Origin and Santos are both currently drilling key wells, which will help unlock the potential of the broader Beetaloo.
According to Empire, opportunities to commercialise assets in the Beetaloo include the Northern markets, utilising the Amadeus gas pipeline and McArthur River mine gas pipeline, the East Coast domestic and LNG export market via existing and anticipated pipelines and the Darwin LNG export facilities.
The Inpex operated Ichthys LNG project in Darwin currently operates 2 gas trains with a total capacity of 8.9 million tonnes per annum with the potential for four trains totalling 17.8 million tonnes per annum. Additional opportunities for backfill or expansion are provided by the Santos operated Darwin LNG plant currently at 3.7 mtpa with the potential to grow to 10 mtpa. The BP World Energy Outlook for 2020 forecast global LNG demand to grow from 237 million tonnes per annum in 2018 to 588 million tonnes per annum in 2050 under the most rapid energy transition scenario. LNG demand is expected to peak in 2035 at 659 mtpa.
The Australian Energy Market Operator is forecasting gas shortages in Victoria and NSW by 2024 and as early as 2023 for the broader east coast.
Mr Underwood said: “The Beetaloo is earmarked for accelerated development by the Federal government as part of the gas-led recovery post Covid lockdowns.”
With what is going on in gas futures market I would expect an intense amount of drilling in 2022. Now more than ever is this play of importance to Australia and Asia, I believe this will eventually pay off, when is anyones guess. The Nat Gas shortage will keep this play moving forward.
Not listening to him jarv hence why I called him a walloper
On 12 August 2021 Falcon announced the spudding of the Velkerri 76 well, which is targeting the Velkerri play along
the south-eastern flank of the Beetaloo Sub-Basin, which is predicted to be in a liquids rich gas window.
The principal objectives for the drilling of Velkerri 76 are to:
• drill a vertical pilot well to acquire core and log and conduct a diagnostic fracture injection test data across
• penetrate the Velkerri formation to assess hydrocarbon maturity, saturation and reservoir quality;
• provide further information on the areal distribution of the Velkerri formation; and
• collect data for potential future horizontal drilling, completion, stimulation and production testing, including
ability to flow liquids rich gas.
2021 Work Programme Detail
• Resumption of reservoir clean-up operations using an artificial lift technique.
• If the Kyalla 117 clean-up is successful, progress to an EPT.
• Drill a vertical pilot well to acquire core and log and run diagnostic fracture injection test data across the
Amungee NW 1H
A production test to be carried out to determine if all frack stages contributed to the initial EPT conducted in 2016.
Anyone listening to Advfn needs to give their heads a wobble
On 22 January 2021 Falcon provided details on the first gas composition data obtained during the 17-hour
unassisted flow period of Kyalla 117.
The initial analysis of natural gas by gas chromatography confirms a liquids-rich gas stream low in CO2 as follows:
• C1 = 65.03 mole percent (“mol%”)
• C2 = 18.72 mol%
• C3 = 8.37 mol%
• iC4 = 1.29 mol%
• nC4 = 2.03 mol%
• C5+ = 2.73 mol%
• CO2 = 0.91 mol%
• N2 = 0.92 mol%
(C1 methane, C2 ethane, C3 propane, C3+ Propane and heavier constituents of natural gas, iC4 iso-butane, nC4 n-
butane, C02 carbon dioxide, N2 nitrogen)
The elevated C3+ gas component of 14.42 mol%, which meets pre-drill expectations and confirms the Lower Kyalla
Shale as a liquids-rich gas play. Gas composition data also support the view that the Kyalla gas stream will have
elevated liquefied petroleum gas and condensate yields. We are waiting on news to see if the obstruction has been cleared here.
Ignore advfn that dick n dodge is a tight ******!
Some walloper on advfn is claiming duster and it’s going down to 2p
I heard an RNS was locked and loaded.
Neeeeews this week
Only news in the next week that would make a dent in the so would ge an about face in the kyalla. Unfortunately all the industry folks on this forum see that as unlikely.
I think extremely positive results on 76 might help but only true flow results will get us to fly. Hoping for an announcement by tamboran that they will start fracking soon.
I can't confirm if my boss is buying or not. However, what I can confirm is somebody is buying.
Wouldn't want to be out of this over a weekend
Hi GreenLanteren - You're not wrong. I'm lost for expletive superlatives when I think about the FOG's Assets
Cenkos should upgrade their note from 37p to £1.37 IMO.
Bloody obvious that's what's going to happen at some point.