Still out, waiting for someone to tip their hand. Plus still over a year away till any drilling and then 4-6 months for results. The thing that worries me the most is a referendum. How's the petition going ? I don't know. Can they get it on a ballot? If Origin won't put their money to work there most be a lot of doubt. Seems like they folded. I think they should of called and raised. This whole thing is a huge gamble and the first to market will fill the pipelines. The race will begin and drilling costs will go up and up. Everyone will be looking for workers, rigs ,equipment, housing, expertise ect. Sure would be nice if we could prod them along now. I agree with you that the rig should be on site now doing a vertical and reserved for 2 horizonals in the near future. Gunner said the government didn't change the exploration rules and will pay no compensation for any ones losses , so drill baby drill! Sure be nice to see the contract. Hope we're not just being nice.
Do you think the frack ban will end soon ? Then drill ! Did you sign a contract to have the wells done by the end of 2018? Then Drill ! And no; I've never seen the contract but would love too. Thought everybody praised POQ for denying Hess an extension and they spent about the same amount of money. I'm just saying if you have leverage and Origin didn't foresee this development it should be used to benefit Falcon shareholders. Besides no one is competing for rigs, hands and materials but wait a year and the costs will go up and availability will be diminished. The CEO of Falcon should put his company first and maybe save money, time, and be the first commercial field developed ! Delays have killed Falcon shareholders for a decade plus I know I've been here. Origin is just a tool to be used for developing our field. So "IF" Origin has an out then fine, but "IF" not then make them honor the contract. It will be to everyone's benefit unless the ban isn't lifted. It's called putting your money where your mouth is, guess they don't believe in the outcome they are expressing publicly.
Wetwater the reason Falcon should get out in front like Pangea is because it is their field and only asset. Origin has no ownership at all. Just like Hess , how much of the field do they own ? They lost all rights because they wanted an extension and the tough, harsh POQ said take a hike. So protect your asset, promote it and educate the voters. Who knows maybe Origin will not live up to the contract either. Why would I suggest that ? The drilling program outlined in the agreement, specified there would be wells finished soon and Origin is not drilling. Nowhere was fracking mentioned as an option for delay ! The NT government declined all compensation due to the fracking ban because Gunner said you were still allowed to explore and drill. So maybe if POQ wanted to play hardball he would require Origin to get to work ! They can and are allowed to do both horizontal and vertical drilling for exploration and research, right . Good question to ask POQ; why are they getting a free pass ? Origin signed the contract. Yes I know it is harsh but at least get some compensation from Origin. Come on POQ show us your negociating skills.
Wish you would at least quote me correctly the statement made was when someone was comparing the Permian Basin to the Beetaloo and I said, one is a proven field ,oil not gas , they have infrastructure, workers, rigs , refineries, experts, ect. while Beetaloo has no infrastructure, workers, refineries, ect. Think that's factual. Don't they fly in workers, how many rigs are there, seen any towns to live in ? Posted Jan.10,2018.You may reread ! You look up the quote yet from David Close ? Apology coming ? Oh and finally maybe you could do a little homework and you will find something on a 5 year ban but after the election Michael Gunner said he thought the process could take less than one 4 year term. That's 2020.
The quote is from David Close July 20th 2017 exact words, "If the moratorium is relaxed in 2018, drilling could resume in 2019" end of quote! It is in the Financial Review same date, also posted Investor hub and numerous other sites.
Lucro, Don't know if you were around but Origin has said they have no plans to drill this year. No one can currently frac, no meetings scheduled. New rules to implement , a possible new commission to regulate drilling ect. If you think governments can work fast, real fast you are not living in Oz. Again restating the electorate is against fracing and needs educating. Falcon should be doing what Pangea is and start explaining what they can and will do for NT. Spend lots of money on TV and radio ads. Get out into the forefront, be hyper proactive. JMO
Wise investment advise. I see another scenario; the stock will hover were it is, bounce on approval, then stagnate and drift lower till drilling commences with next " horizontal" well. Time for drilling 18 months away, then months like last time to get flow results. Of course don't invest like I do because another idea is that when the ban is lifted a low ball bid or offer could come from a number of players and keep a floor under the stock price. That would be bad because investors won't see the true value of this play. Of course if the big boys get tired of holding, they alone will determine if and at what price the buyout occurs ! Plus they have the votes to buy it themselves .So JMHO is like others, just an opinion.
If you look at a couple articles that have been published lately. The pro fracking forces are calling for discussions to start in April and that is pushing things a little. The opinion of the NT paper's editor suggest talks start in April. I think that or early May is reasonable.
Twice as many shares out since 2007, but that won't matter if drilling successful . Need drilling to start soon though cause cash might get low and last thing needed is more shares out. Also time to use that 2 million in escrow to reclaim Hungary ? Don't know but that money might have to be used soon.
I guess wait and see how many signatures they get, if they get 10 % of voters, and the government goes against them; the Gunner will be sweep out of power. They want this done before the report comes out in March , tough task.
I was worried about this possibility for a long time; the majority still don't want fracking and a vote would seal the deal. Most peoples opinions were formed based on flawed facts and poor drilling techniques, so it would benefit Falcon Origin and Pangea to get as many TV and radio spots as they can to promote their story. Even the timeline to have a vote sets back all drilling another year and a half. Spend some money now get your views out, Falcon! Finally real volume on all 3 exchanges.
I was worried about this possibility for a long time; the majority still don't want fracking and a vote would seal the deal. Most peoples opinions were formed based on flawed facts and poor drilling techniques, so it would benefit Falcon Origin and Pangea to get as many TV and radio spots as they can to promote their story. Even the timeline to have a vote sets back all drilling another year and a half. Spend some money now get your views out, Falcon! Finally real volume on all 3 exchanges.
Seems like no one reads David Close's reports , we've known all along there are multiple possible pay zones, wet gas has been encountered in vertical drilling . But nice bump on old news, maybe won't get to 19.
Wetwater, I didn't know you were so negative on the share price ! So if drilling doesn't happen in 2018 it is worth a lot less than 19 cents. Ok, so the report has 120 recommendations, a proposed 3 year water study, maybe a independent commission and new rules and regs to put in place. Origin says it has no plans to drill this year, and I'll just bet a few lawsuits with stays will be filed if the ban is lifted. So enlighten us; How low do we go ? Just in case you are wrong and drilling doesn't happen this year.