Very informative post. LOL But as I have said buy under 20 cents, slow and steady purchase will make more money. Don't buy and hold ! If a Reverse split happens bail and buy back later. A reverse split is needed, hopefully at least 100 to 1.
Has any permits been issued to drill yet ? The process to receive a permit can be up to 120 days in the US and as little as 4 .If permitting hasn't been granted how long will the process take ? I haven't seen any of the 130 regulations written into law. Will we even have the frame work in place by spring ? Basically will drilling even take place in 2019 ? I don't know but the clock is running and people, rigs, housing ect. take time.
Origin had an exploration contract ! Explore ,evaluate and prepare. Wouldn't it have been nice if Origin did what was required of them. Almost seems like an adjustable rate mortgage and the rate went up not down , now you want a do over, and POQ gave them a do over with no benefit to Falcon shareholders. We got screwed royally. Again NT government said you can explore , never paid a cent to anyone because of the ban. That's a legal position and the same position should of been taken by Falcon! If you don't honor your contract we will take back all of the leases as specified in said contract. Right !
If you would be so kind as to ask: when and how much the Hungarian field will cost us to clean up ? Also long tern liabilities far exceed cash, what specifically are they and when do they become due? And finally how did Origin wiggle out of the last exploration contract with out fulfilling it in the prescribed time limit? We gave them a new longer term contract when the field should of been returned to us, we should own 100 %. POQ kicked Hess to the curb for not honoring their contract and Origin got a free pass: which cost shareholders 70 % of the field! Everyone was allowed to explore and that is how NT government never had to pay one penny for any claims because of the fracking ban! I read as much as possible that was disseminated to the public on the contract with Origin and nowhere was there an out for non compliance. Shareholders should own all of Beetalou. Origin was never stopped from exploring they just quit !
As I've said before 20 pennies is a good start point to buy , worked well in the past but I must caution with no news and no management . POQ gets rich, we get nothing. !00 million shares reserved for stock options . CFO what a joke, who can't balance a checkbook , no other activities require anything but a temp accountant . The low will probably be during tax loss season. Possibly 18 pennies. JMO I will trade again and don't see a reason to hold. Loser for 15 years unless you traded!
We could test the lows when tax lost season hits here soon. I believe new lows may come early January. Unless some firm news comes out at share holders meeting, but I think it will like last dozen nothing but more options granted, pay that has no bearing on work or performance.
Stated s long time ago Origin was weak financially and bad on exploration. Santos just spent a couple billion and has just started a dividend payment after a couple of years. Been trying to pay down debt. Maybe if it goes cheap enough they could borrow more.
Who in this world can think that giving Origin more time to complete an over due exploration project saving millions in the process and now 2 years behind original agreement is a good deal? The original deal signed May 2, 2014 would have to have been completed by 2019 . Origin saved million and millions by not completing stage one . Plus in my opinion never full filed the original agreement and should of lost all interest in Beetalou ! Now POS gave them another chance to scew all shareholders with no timelines and for what 15 million which is less than completing phase one ! Origin has not done , completed or should be a part of this project. How did they get out of Phase One exploration. Hoped whoever let them bail, POS, has a good a good reason for violating the good of his shareholders! Nice class action lawsuit coming.
Quiet, no news, no movement, no involvement , no regulations, no drilling, no buying , Nothing going on here and rainy season approaching, of course that's BS it's a desert! What am I saying? Nothing . Another year wasted unless you get a fat paycheck from Falcon and options. What does a CFO do ? Nothing !
Has anyone researched the average rain fall for Alice Springs, Daily Waters or any settlement 180 KM south of Darwin . There is no rainy season ! Houston Texas had 27 inches of rain in days , these places don't have that in years, guess what we were doing a day before in Texas, wow drilling and guess what we were doing a week later wow drilling. Incompetent people in charge of not knowing how to drill in the easiest environment in the world; finding excuses that hold no WATER. LOL, Get a plan together and get going ! Next excuse the hot season . WTF
Its not commercial, potential, and possibly are a few words some investors are failing to comprehend. I "hope" the hype can gain creditability . But just like Hungary it is still a work in progress. Many pitfalls ahead . The ship just sailed into open waters , but hopefully the ship will come in . GLTA
The" exploration and appraisal program" signed by Origin and to last 4 years, 9 wells. Times almost up ! POQ get our field back. Let's see that spirit used to kick Hess to the curb and enforce the "exploration and appraisal program". Nothing has ever stopped them from exploring, that's the government stance and should be yours. Act in the shareholders interests , it's our field and always will be ours till the earn their percentage.