Stephan Bernstein, CEO of GreenRoc, details the PFS results for the new graphite processing plant. Watch the video here.
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Enough, I believe you are based in the Northern Territory -- is that correct? If so -- how about we all chip in to buy you a couple of cold ones at the Daly Waters pub -- and you can confirm the drilling is underway -- LOL.
I know that we are very close, but how do you know that "Origin are drilling now"???
Origin are drilling now
I think that WetWater is most likely correct about the drilling already being underway for probably only a day or two at this point. Origin will be of the opinion that no news is good news right now given the constant harassment from the anti-frack crowd.
The assembly time and spudding of the first well should be underway by now given both the newer style of that rig and the daily expense for the Ensign 963. As far as spies knowing more about what is happening on the ground -- there is certainly the chance that someone hanging out at the Daly Waters pub could find out a bit of info, but the drilling crew will be under a very tight rein to not say anything. Access to the drilling site will be very prohibitive given the restricted access and distance over the pastoral lease -- so it would require the expense of hiring a plane most likely to know for sure if the drill bit is turning.
For any new Falcon buyers that might not have seen how quickly the very modern walking Ensign 963 rig is assembled and can move to another well pad location -- here is a short YouTube link below that is worth the three minute viewing time.
https://youtu.be/getrG4y4cY0
L2 is 4 v 1 (90k v 25k) so the order book is skewed to the buy side but that can sometimes be deceptive as MMs can adjust their position in the blink of an eye...
Origin especially is in a bind as they try to keep their activities out of the public eye to minimise the chance of disruption to their on the ground movements...that necessarily means an almost unofficial embargo on news...let's see what happens in the next few weeks or so to see if FOG starts getting bought again. As always there's always insider buying no matter how hard the authorities try to stop it
That's an interesting theory, I, however, would believe that scouts would have been hired and surveillance initiated, and if what you are saying is correct, then we should see some buying coming in as they make progress-- by the Scout's employer. Too much money at stake, for everyone to be in the dark.....
Origin789: Maybe someone can verify this but I was told on the Amungee well there was a week or two of actual drilling by Origin before any announcement. An Origin person said this delay was intentional to help sniff out any insider release of information or insider trading. The on-site personal were gravely cautioned not to release any drilling information or results - in other words the one or two weeks was a test to see if they had any leakers. I was always amazed at how quiet the Origin employees were with the Amungee well - the well was a real game changer yet the volume and price action of Falcon showed no indication of what was being tested/discovered.
Could today be a replay of the Amungee well - might possibly be. I am very confident that this well is currently being drilled. It doesn't take this long to assemble a rig and get it turning. Origin made it pretty clear they would not even consider ordering the rig until they had a permit in hand - they were not wanting exposure to any very expensive daily stand-by rates. The Ensign rig will have been put into operation as soon as possible - IMO that time has passed and the rig is drilling. My big question is for how long will they keep a lid on any release.
Your observation is on the money. POQ seems to have learned HYPE is our worst enemy for FOG shareholders. Granted the share price is not where anyone, except those being granted options, would like it to be. The shares will move based on solid information (good or bad). Currently, the "liquidation" of shares is a bad reality, but this too shall pass. Approaching 10 years of mostly misery in my shares like many of you, but the end of this tragedy by definition is closer, hopefully with a good result. Hang in there!!
Things are unusually quiet, back in 2016 there seemed to be more information released, reports of commencement, of successful spudding and dates of horizontal fracturing. I trust things are progressing well without any problems.