Member Info for 805slo

Nice couple of weeks! Piper should re-rate once the farm out deal is released. I wish I could be a fly on the wall because my guess is those discussions are heating up with this mess in the Middle East. My guess is a re-rating post farm out release will land north of $100/share. Lonnnnggggg journey but finally starting to take off.

I only mention this because the $ per acre is less than the deal with DW in an area that we know 100% will produce.

I am wondering just based on timing if this farm in is really to shore up $$ to pay out Lamesa.

Happy to see DW and TBN working together. That was a big concern of mine with the Inpex announcement. Now I wouldn't be surprised if Inpex is the suitor for TBN's farm out.

Lol, thought the little images were the result of being in the US. Def some informed posters over there. Much of which I struggle to understand;)

My understanding is that it was approved but with additional conditions that will require TBN and FOG to amend their deal. They are considering the conditions and amendments. Let’s hope the new conditions address the concerns from Lamesa. If not, I believe they can appeal and further drag out the process.

Frackme, my guess is that they dipping their toes in the water. They negotiated an option to obtain more acreage at their discretion. If they wanted more now they could have done that. Personally, I would like to know more about the relevance of the timing of INPEX and DW’s announcement. They do not have permit approval to do anything at the moment so I am not sure why they made this announcement now. Maybe I am just paranoid, but is BS trying to thwart TBNs farm out plans so he can negotiate a larger slice of the pie? Did they make this announcement to cause the share price to go up so to further create problems for the TBN and FOG merger? TBN has said nothing about the INPEX deal. And nothing said about the conditions the court imposed on finalizing the deal. Just seems like something else is going on behind the scenes. But I know and understand very little about gas and oil. So I am just speculating.

I dont think our acreage is worth 3000/acre. I would venture to guess the deeper part of the basin is but not the rest. So I do not think there is a simply way to value the land at this stage. I also think it’s telling that INPEX is simply dipping their toes in the water with the option to do more later. Clearly, there is still apprehension about the ability to bring this area to scale. We shall see…but I still think we do best with the merger. Zero chance someone would make an offer for non operating acreage at a dollar amount that would make any of us happy. Nothing has really changed from last year other than a war which has bought to light the dangers of relying on Middle East oil and gas. But that too will pass with time. I am sure Cam disagrees but when he finds a suitor that is willing to pay the amount we would all be happy with let us know. Until then I think we are best situated with this merger going through.

From the press release TBN and FOG plan to extend the date to complete all conditions. I do not see this as an option. Personally, I would prefer for the deal to go through and reap the bigger the gains that come when valuation is much higher if that comes to fruition.

Newt, nothing but press releases from FOG. Same as what is on their website.

https://www.sedarplus.ca/csa-party/viewInstance/resource.html?node=W642&drmKey=5a60728cb2ec563e&drr=ss3b690ce5a9b273a629df11aa0915c382ba3570840b969f0d845ca27b415d4d7310ec6570e658ce44d4e2b1192d67b5b7ux&id=0c11f8b7998bcd96e3fc4392f9e2edaae2ab46d770212a06

Long, that is a good point. I doubt they want to do that again. I guess until we know the conditions we are just speculating. It could have something to do with what happens with the sanctioned shares/money exchange after it happens to ensure the money stays sanctioned. We shall see.

Beware….the merger was approved with conditions related to the sanctioned shares. Nothing specific was stated as to what those conditions are. My guess…the sanctioned shares will get more money which might mean a lower share exchange. At the same time, INPEX paid DW around $4000/per acre. Interesting times. But FOG always seems to gets screwed somehow.

Why would any big-time player do anything different than Inpex? I believe TBN has completed a single long (or short for that matter) well to plan. Cost per well is still very high. Seems like we are far from establishing this area as a great asset if Inpex is simply putting their toe in the water to test the temperature. The farmout window has been increased and now this. TBN is going up because gas prices are going up. At some point, that will change too. I am not a gas expert. Far from it. But as with many things, I am not sure the size of the deal matters here. Inpex clearly needs to secure gas resources and was only willing to stick their little toe in the water. I do not see that as a good sign. The majority of posters here and on Hot Copper have predicted Inpex as the farmdown partner. That does not appear to be the case.

Because BS has direct access to information as a major shareholder of TBN and FOG. Its stinks of shadyness.

Great fr DW but def creates competition with TBN. Zero mention of farmout price?!

Cam- I believe that POQ actually did mention this in the last investors conference. I believe he said they had discussions but the offers were less appealing than a stock swap with TBN so a further increase in the investment could be obtained for shareholders.

Yeah I agree its highly unlikely even with a delay either side would want out of the agreement. Too much to gain. Fingers crossed. Its a set hearing so it will be heard. When a final written order comes out is a different question. I'd like to know what the grounds are for the objection.

Thanks Newt. Being an attorney, the one thing I will say is that courts do not issue final orders quickly in all cases. That will depend on the court and the judge's docket. I think that is the significant uncertainty referenced in FOG's statement. I don't know the court system in BC, but here federal courts are completely bogged down with immigration cases because of the current administration and DHS. The eastern district in CA, even prior to our current immigration mess, is so bogged down it can take many months...sometimes a year to get an order let alone a final order. I think it will all get worked out in time and hope the timeline remains as planned. But if it takes a bit longer that is life. Bottom line, it will be as quick as the system allows and/or at the discretion of the judge hearing the objection. I wonder if there is an appeal process? In general, you cannot appeal until there is a final order. All of this is well outside the scope of what I do, but interesting and frustrating nonetheless. Cheers.

Cut off your nose to spite your face. Brilliant. I hope you are wrong. And it is not a lawsuit.

Case number: VLC-S-S-260805

Link to access what may be the docket. Unfortunately, the website says there are issues with processing credit cards. Not sure if this is like the states and you can access the docket and anything filed. It would be nice to see what Lamesa filed and on what grounds.

https://justice.gov.bc.ca/cso/esearch/file/caseBasics.do?fileID=3519065