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It will be interesting to see what happens to these warrants as they are in the money ! With Sweetpea selling , tax selling and fiquiring out what will happen with these warrants , plus no news on flow test till probably April. I think slow steady share buying may be rewarded, that is what I am doing and JMO. I gave up trying to understand the decommissioning provisions for Hungary and why or why not we still have an office there or employees.
Some warrants coming due in 5 weeks. Maybe a few more after. If FO says 6.28% for SP, that's good enough for me. I don't need an article.
BOQ, you still working on the decommission provisions for Hungary? You do bring that up once in a while.
At 30 September 2019 249
The terms of the warrant are as follows:
Warrant issue Date of issue
CDN$’000 Expiry date
Warrant 13 July 2011 10,000,000 0.19 1,900 13 January 2020
Total 10,000,000 1,900
*Proceeds from warrant are subject to the warrant holder exercising their warrant.
On 3 October 2017, Falcon announced the transfer of the warrant to acquire 10,000,000 common shares in the
capital of Falcon by Hess Oil and Gas Holdings Inc. to Nicolas Mathys. The terms of the warrant remain unchanged,
with an exercise price of CDN$0.19 per share and an expiry date of 13 January 2020.
Some opinions aren't welcomed whether they are valid or not, don't let it bother you.
Thanks for your note. Sorry I cannot find the article showing ~20 million remaining shares held by Sweatpea, which if true would be nice. I gave up calling POQ years ago as he loves his friendly shareholders, but ones with board experience trying to help him do better. He is not perfect, but not a buffoon either. Some on this board probably think the same of me. As they say, beauty is in the eye of the beholder.
Agreed, pm. Poods, the latest Falcon presentation has Sweetpea at 6.28%. I wish POQ does answer the phone just once to take that burr out of your butt.
kleenex and hugs poods
over and over
but you bought more
enjoy the ride
I have great respect for POQ and have been put in his position and recognize that he is far more talented than I am. The difficulty for POQ, in my mind, came with the arrival of the fracking moratorium. I am just hopeful that he can return our original investment in the next 18 months when all is said and done.
Philip needs more disappointed shareholders like you :^) Even though you throw rocks it's good to know that you still see the inherent value in Falcon. IMO you will be well rewarded. Have a good weekend.
I am unclear from your recent comment which side of the fence you are with regards POQ? My guess is you are as impressed as I am with his performance. I gather there was some sort of meeting at Proactive today and if so, at least the shares did not plunge. If there was a meeting, It would be unlikely anything new would have been revealed right before the AGM. Believe regulators would frown or worse at that and believe our leader knows better. If someone from Origin had been there and simply repeated what we have heard so far, my bet is the shares would have reacted more positively. I simply think the marketplace has been burned enough times by POQ, that credibility hurts his performance and suspect disappoints him.
Beyond that the seller(s) continue to liquidate. I have asked anyone on the chatboard if they know whether the ~20 million shares I mentioned seeing is what Sweetpea had remaining a couple of months ago, but have heard nothing. Maybe POQ does not know either, as I do not know the confidentiality rules in this case. What is do believe is the geology is still worth speculating on and in fact bought another 50000 shares today. Poods
That's fantastic! With any luck POQ will sell this off for $0.50 in 18 months and we will all break even.lol
I may be a fool but I will be moving my assets into the hydrogen economy. I would never have thought that Ballard Power Systems could have survived from its fall from grace $165.00 to $0.61. I picked up 1000 shares today at $8.66 They are supplying the fuel systems for the hydrogen fuel tests in Alberta. It's a multi year test. Bison Transport has 1400 semis and Trimac has 1000's of semis.
I did come across this link after I purchased my Ballard shares.
If Proton Energy can provide the Tar Sands with technology to become the Hydrogen Sands then that would be very sweet. Their targets are far shorter than the 15 yrs it has taken Falcon to get off its ass. I am a big fan of POQ and Falcon Oil.
Do your own research!
We talk a lot about DFIT, but, as you pointed out, it does a very minuscule sampling, so one could say it is better than nothing, but, really not much better than nothing. Just my opinion, but I don't think it has much value.
How good is that from Orson. Superb
Had to look up DFIT cos I'm thick as pig-cack
Diagnostic Fracture Injection Testing (DFIT™)
The Diagnostic Fracture Injection Test (DFIT™) (a.k.a. DFIT™ Test, Pre-Frac, Injection Fall-off, Data Frac or Mini Frac) has become the dominate pressure transient test for Halliburton and the SPIDR® system in the domestic USA marketplace. Because conventional Gulf Coast and offshore shelf Gulf of Mexico gas drilling has decreased dramatically and has been replaced largely by tight gas (sand /shale) horizontal, multi-stage stimulation jobs, the DFIT™ has moved to the top of the list in transient testing in the US.
What is the DFIT™ or Injection Fall-Off Test
The DFIT™ (Diagnostic Fracture Injection Test) is an acronym coined by Halliburton. Schlumberger calls their equivalent test a MFO (Mini Fall-off), other operators and service companies may refer to it variously as a Data Frac or Mini Frac but is defined as:
a short duration, small volume fracturing operations where a small amount (<100 BBLS) of KCL water is pumped until fracture initiation. At that point the wing or frac valve is closed allowing the well’s pressure to fall-off naturally over the course of 24 to 48 hrs. (or longer).
I think POQ did announce the start of the horizonal in an indirect way; the November 20 th press release he stated that the JV has decided to immediately start the horizonal drilling and a previous post I believe in August stated that the horizonal leg would take approx. 30 days or more. That's why I believe we are close to half way done with the horizonal. The post also says Origin is prepared to test during the wet season. So assuming these facts are correct and a 90 day flow test the end of March looks good to me.
Many thanks Orson, as your take on what is happening from a drilling perspective -- as well as your digging and insight on the politics/politicians on the Beetaloo -- has always been much appreciated. As we move closer to the Beetaloo becoming a reality - there is bound to be quite a few posters throwing out misinformation, either from ignorance or from their own agenda, but your posts are very much appreciated by 95% of everyone else on this board. So ignore them and post when you have any thoughts, comments or insight that will help the rest of us who don't have your very much appreciated shale and fracking knowledge.
Great comment on the W1 well: ("Also, have to remember they ran a full log suite in the kyalla on the Beetaloo W-1, which is just 20 miles to the south, so they already had some offset well control if the cores matched up") -- as I thought the W1 site was a lot farther away from the Kyalla 117 site. I know that Origin wanted to do a DFIT on the W1 but got up as being too late with moratorium almost in place, so am fairly sure that they would have done one in the vertical down hole - just for the added data prior to the fracking stage later this month. I am not sure why the start of the horizontal wasn't announced by POQ -- unless it was a bit of non-event or he might be saving that for the AGM next week.
Yeah, still following, just soured on this board for a while with a lot of things being posted that I didn't care about and a lot of misinformation I didn't have the time to refute. Just some quick answers to your questions: I agree with BO that the horizontal leg is already in progress, and likely near completion. Reasons being is that the directional drilling is likely being geo-steered based off seismic, MWD, LWD, Image logs, geological models, etc. The core analysis will largely dictate the completion design, so they have time to drill the horizontal, while figuring out the completion design based off the core analysis. Also, have to remember they ran a full log suite in the kyalla on the Beetaloo W-1, which is just 20 miles to the south, so they already had some offset well control if the cores matched up. This is all very similar to the Kalala and Amungee situation. I would guess they probably ran a DFIT on this well, but was likely done in the vertical pilot hole. Should have these results before the horizontal is completed. Also, Origin has always sent their cores to Weatherford Labs for analysis. Weatherford Labs has been sold and become Stratum Reservoir, but is still located in Brisbane. I am still completely comfortable with what the future holds, just have to be patient. I have just come across too much information to doubt the potential of this play. There is a ton of info in the public domain that is not well-known to the public that reinforces my beliefs.
Oh also, the Santos groundwater testing release was made from the hydraulic fracturing taskforce in a community bulletin (link below). There is only a 6 month testing requirement. And I agree there will come a time, when not every single well will need testing but will use data from existing testing bores.
Gotta run, have a good weekend everyone
The way I understood it they were starting with the horizontal right away, should be half way done by end of next week. That is how I read it.
If you are still following Falcon?? -- it would be great to hear your thoughts on where we are at with drilling the horizontal into the Kyalla 117 well? As one of the few posters that has first hand experience in the Bakken with shale oil and gas drilling procedures -- it would be helpful to hear what you think of the latest press release on the vertical depth being reached and why we haven't heard anything further on the start of the horizontal leg? Do you know how long Origin might have to wait for the Core Analysis report and for the DFIT flow back results before they can get the horizontal underway?