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POQ has made an estimated $7,200,000 during his great leadership of FOG (12 years X $600k annually). Meanwhile, he spent virtually ZERO buying shares in the open market. Good gig!
How much money have you made in Falcon?
Should be sub $.10 soon. Hate to do it but might buy some more.
Is spreading like Wildfire! Around the world!
If you get enough liquids in the well your facilities and compression projects get more complex and have higher and harder to manage costs. With dry gas flowing freely in a shale at $12+ there is no reason whatsoever to pursue liquids at the expense of dry gas production.
Shanker11 -- Origin789 is correct about the Lower Kyalla well that drilled a few years back with minimal successful flows, which was another one of many disappointments -- as that zone, if the experts can eventually frack it successfully, is almost 100% located only on Falcon permits.
However, there was a vertical well drilled on EP76 into the mid-Velkerri formation and the eastern side of Falcon's three permits -- that the DFIT tests showed a much higher level of condensates. That EP76 vertical well is the closest well to the three mid-Velkerri Empire's wells that have shown higher condensate levels too, and appears to be at the same depth. This EP76 well certainly has added value for any future buyer of Falcon's interest in EP76, but the lateral extent of that formation is not fully known. and the shallower depth of the mid-Velkerri on the eastern flanks seems to have considerably lower overall flow rates as evidenced by Empire's three wells.
By comparison -- the much deeper and higher pressure Core area, that the Pilot production plans are set for in the SSH1 area of the Beetaloo, has a much higher (dry) gas flow rate across what appears to be a one million acre similar depth mid-Velkerri zone. This one million acre (darkest blue on the Falcon Presentations) area is also much closer to roads and pipelines infrastructure than the EP76 flank well that Origin drilled. Plus the very high selling price for natural gas in Australia ($10 to $12 range as compared to under $3 in US and Canada) makes the SSH1 one million acre zone the first priority for us, Tamboran, and B.S.
Yes, that was when Origin were testing the Kyalla formation, but It was mud rock and less suited to fracturing, Falcon's website reads:
Development of the lower Kyalla SRR, if viable, could have significant cost advantages over that of the middle Velkerri SRR due to expected lower drilling costs.
Mudgas and core analysis indicate the reservoir is likely to be wet gas which could also improve the economics considerably.
We are now back in the dry gas play whick is more suited to fracturing, but has a lower calorific value, and thus a slightly lower sale price.
I seem to remeber a couple years ago after a well test that although volumes were low at the time, our gas contained high condensate levels. This was important to us because it provided a higher economic return on the gas . The dollar per acre icreases due to the additional value in the condensate. I haven't heard any chatter about this with this well. Is it no longer part of our story?
It's exceedingly consistent with the previous views, there's a measurement tool on the page and it is within a few meters each passover that we can see it. IE, nothing is happening rate wise and bodes well for the 90 day average.
No surprises.
To me looks like no noticeable change. Could be bigger or smaller.
Has anyone compared the flare from today with what we saw around 10 days ago?
The infrared satellite foto of the flare is still looking strong. Conclusion: good gasflow from the reservoir into the hydraulic fractured area with minimum decline. This is a very strong support / hint that we get a commercial production well.
I noticed 500,000 bid at .107 and thought I posted here. Didn’t have subject line filled out so never took. Now looked at my acct and saw 400,000 plus volume and .12 bid. Came back here to see my post never went thru. But, interesting turn of events.
T
T
Looking better
Fwiw, there’s a 1M share bid creeping up in the L2 quite box. If history is any guide, there is NOT a slick Irishman behind this big order. ;)
Well site.
Hi Thij, what are we looking at here?
I have also purchased more shares. Perhaps a bit too early;). Time will tell if I made a wise decision.
I don't have the software to see individual sell orders, but from what I see with Fidelity it looks like at 9:56 and again at 10:19 there were million share sell orders put in. And for a stock that has a 90 day average share volume of 212,000 shares we just went through a 5 million share day. So someone must have set some sell orders out there to execute when they hit a set amount and others bought. For every seller -- there is a buyer. Can't wait for someone to finally announce to the world what next quarter's drill schedule is. It may calm the masses. And I don't mean we are drilling next quarter -- like maybe a date. But also don't know if they have approval yet from the environmental review.
What went wrong ha ha ha .
I would like to get a feeling from the posters as to which nickname should apply
1 JUNIOR BIRDMAN or
2 CAPTAIN OBVIOUS
Personally I feel the second applies the most....especially after he's been in the pub
WW, seems we might be only posters buying. Apparently, no one sees a big buyer stepping in and accumulating before they pull the trigger. This seems to b3 doing exactly what I thought so I’m sticking to my story. Time will tell.
T
Well, I'm the bid in the US at $ .105 and have only acquired 1K - no one seems to want to contribute to at this price. We'll see what the close brings.
Down 15% to 8.2p today and no news spread up to 2.5%
400 post in the past month on this B.B. approx 14 per day .