Member Info for 805slo

Yay. New all time low.

Thanks for the responses.

Wet, just wondering…what does FOG get by staying in for the remainder of the pilot program? What is the $$ return on 5% over the first five years? I am just wondering why dilute our shares to stay in the pilot program. Why not just sit back and do nothing until the value is proven then sell? Are we now going to become a gas producer? I am just having a hard time understanding the end game here. I do appreciate your thoughts and clearly you are not POQ. I don’t really understand this game is just seems to me we are swimming with sharks who wants to get us as cheap as possible.

I am sure this article was tossed around here but I found it again last night.

https://ieefa.org/resources/beetaloo-10bn-pipe-dream-gas-producers

Not sure of the source but some of these issues seem relevant to me. Don’t get me wrong, I am still hoping for a good outcome for us retail investors. But I fear this might become one of my worst investment decisions.

POQ is trying to survive. That is all. We might be holding a great asset but I fear the delay and costs will be death of us. Not sure there is an appetite for this kinda of project much anymore. And if the demand for gas drops as many predicts the costs go down and this project becomes less lucrative to any potential suitor. I think POQ would sell FOG or whatever you want to call it today for the right price. But other than a few rich Americans, no one is bitting. And they partners of ours will do everything to get our rights for as cheap as possible. We are swimming with sharks.

How many times did Pioneer do a reverse stock split?

Trying to understand the timing here.

Three years to go to discover and sell. I know many here believe a sale is eminent but that is not what our leader is saying. Cove is a great story of what can be. But they were fully funded every step of the way and here we are….playing checkers short on the price of the ticket to sit at the table. Looks like they had a nice price increase to raise money too. We are at our all time low. For some reason, no one has faith in FOG.

Wet-

I sure hope you are right. But ever your rosy predictions have taken a sour turn. 2x todays price would be FOG’s share price earlier this year prior to the wells results. 3x todays….4x todays share price…..I dont think that is the investment long terms holders were hopping for. I hold an average at .11 USD and will not purchasing any more shares. Can’t justify it. I don’t trust our board or leader at this point because the goal post gets moved every year. I fear we will not be able to raise money fast enough and will get squeezed out. And if we do, it will come at our expense with more dilution. Dilution we were told would happen and then did. No doubt FGO was correct about the potential of this asset with respect to natural gas. But perhaps not the best horse in the race to bet on. Hope I am in wrong. Why has POQ not bought shares? Other board members? At at all time low….why are they not swooping up shares on this “great” investment?

Itguy, my guess it is all the prep stuff that needs happen at the site prior to even drilling. Looks pretty bare though things appear to be moving along. I am putting in a new backyard right now. It’s going to take three months. I am a simpleton but if my backyard is going to take three months drilling two gas wells in the middle of nowhere is going to take some time.

Revisiting our 52 week low stateside with little expected news for several months. Very disappointing.

Drilling yes. Flow rates not until next year. Can’t really thrown shade at the anyone except the NT government that took longer than expected to approve MPS. Not sure we really have much news until then to drive up the price much. The silence is deafening. Once the checks board is divided up FOG will have very little turn around time to find funding or partners. I know a few here see this as a positive. I don’t see how FOG keeps up. I hope a sale is imminent next year and not a merger with TBN like others have suggested.

My guess is if they expect a 90 day flow rate near the end of Q1, we wont get the 30 day until the beginning of the year. I don’t really understand much of the science here. I am guessing another shut in for at least two weeks. Not sure if they do a longer shut in for a longer well.

ITguy, page 20. IP 90 Q1.

Yeah no surprise. Never goes as advertised. I wonder how they start drilling four more well on the heels of these two. Both TBN and FOG will need to raised money quickly. I guess they think good results will help the share prices. Didn’t work last time and the rational was looming money grabs and dilution. Not sure how this changes moving forward. Always going to need more money to play the game.

New TBN presentation.

https://ir.tamboran.com/_assets/_4baf2ea1a160d7f41ffaae2a5a281b3b/tamboran/db/923/10361/pdf/2407+Tamboran+Resources+Presentation+%28July+2024%29+FINAL.pdf

Looks like our next two wells are pushed back a bit and now 90 day flow rates aren’t projected until Q1 25. Looks like next four wells will start shortly after that.

Https://apps.sentinel-hub.com/eo-browser/?zoom=15&lat=-16.80255&lng=133.64349&themeId=DEFAULT-THEME&visualizationUrl=U2FsdGVkX18%2FxIwqcWN4dY6HD9xuQhfUtF%2FhnxXeT2HQXr5KBwbZfxnRzw6IkOkBXyOLTa7wLNRTlJTKJoxdFmZNldTR7v9Sl7USQ0qhmOVdFYjCo8uVRsqVx3wFCt3C&datasetId=S2L2A&fromTime=2024-07-11T00%3A00%3A00.000Z&toTime=2024-07-11T23%3A59%3A59.999Z&layerId=1_TRUE_COLOR&demSource3D=%22MAPZEN%22

Looks like dirt is being moved. But looks far from ready to poke a hole in the ground.

One other question. Once the checkers board is agreed upon. How long will FOG have to determine what percentage they go in at? My concern is with have two companies starting projects at different spots…will FOG have enough time to raise money to play? And with more players they will have to make these decisions quicker….seems like it’s only getting more complicated.

Thanks Wet. I recall from the last investors presentation POQ mentioned these terms but I was confused when I read the JV agreement trying to better understand of the checkers board. I hope you are correct. I still wonder how FOG generates interest in their portions. Seems like a lot of farm downs and/or dilution of shares has to take place. Doesn’t seem like anyone is really interested in this venture other than the current players. TBN raised half the money they were hoping for. POQ said 150 millions was a modest estimation. Didn’t come close to that. Will be interested to see if good results later this year or early next year change that. Seems like FOG is praying for good results with the hope it will raise the prices so they can justify a dilution of our shares. Def a gambling games at this point.

Def wondering when the drilling will start. Hopefully we will hear something soon. I watched the pod cast Schlem posted. It was wild to hear the host talk about the last Origin well. Basically, they had no idea what they were doing and just guessed and stumbled upon gas. That was not how it was presented during that period of time. And I assume his statements were accurate. Makes you scratch your head and wonder.

Thanks Wet. I am looking at clause 8. Link below.

https://ir.tamboran.com/sec-filings/all-sec-filings/content/0001193125-24-130878/d716518dex105.htm

I appreciate the criticism. I have my own concerns about FOG. Feel pretty dumb from getting back into this stock at this point. I think TBN and FOG are in the exact same boat. TBN raised half the money they thought they would. Now they have to borrow money, sell future gas, farm out land, or dilute their share price and raise more money. Yes, there are some deep pockets involved but rich people hate spending their own money. For whatever reason…there is simply little interest in investing in TBN or FOG at this stage. I think regardless of what is in the ground…there is a lot to do to bring gas to market. There is a lot of money that needs to be raised. I suspect a sale is not as close as some think unfortunately. I think this is largely due to a lack of interest. That may change with these next two wells.

I am hopeful good flow rates at the end of the year or beginning of next year will help drive up our price a little. But I thought that with our last well…and we know all know how that went.

FOG needs TBN to succeed and I hope TBN wants FOG to succeed. Sheffield has spread his investments over all three players for a reason.

I am far from a gas expert. I was reading the FOG/TBN contract and the execution of the checker board approach is solely at the discretion of TBN. And its primary use to help identify good drilling areas. It’s not a sales tool or marketing theory. It’s a systematic approach to drilling different areas over a large parcel of land in an organized manner to maximize success. Well…that is what I understood it to be. But I reiterate, this approach is solely in TBNs discretion. I don’t see how this is really changes anything at the end of the day. Bottom line is both FOG and TBN need $$$$. And as of today….TBN nor FOG have generated the interest in their assets they have hoped for. We are on the same boat…