The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Man if you read all the posts you would think we are in the midst of drilling, fracking, testing moving to new sites. Pipelines coming ; new infrastruture a total booming economy in Beetaloo. First their is no rainy season in Daily Waters, I've pointed this out for ten years it is just an excuse. The largest rainfall this month near Daily Waters was on Nov.14th .It came in at 5.8 mm or less than a quarter inch. The pipeline could be used to bring in gas from offshore NT and the LNG terminal could easily be used to bring in very cheap LNG from around the world with minor modifications . Be great to get gas thru pipeline to East coast. No commercial gas is currently available or in the near future. Origin is eating up money that will soon cause Falcon to be responsible for their fair share again soon ! Remember these are some of the most expensive wells in the world in the worlds highest regulatory environment. Falcon choose not to buy out the overriding royalties big red flag, why? plus at a high cost only to themselves, why didn't Origin have to cough up some money? I've said before Origin will bleed every last penny out of Falcon and own the whole lease. Falcon doesn't have enough carry over credit to drill much more. I' m speculating the gas flows are substandard, non commercial and millions more will be spent trying to find the sweet spot. Why can't they ever tell the truth ? Just state the facts , no flow rates yet ,why ? No company here ever spends this amount of time and has chit to say.
Yes more Falcon money going down the drain. Wonder how much that sign off cost ? LOL I wish I could of just agreed with no comments or research . I think the big picture is that POQ has never invested a single penny in Falcon and I was told years ago if they don't have skin in the game then you shouldn't !
Seems like years is correct Amungee was spudded way back in Sept 2015. The Kalala S1 we had preliminary results 5+ years ago. Seems like our competitors fair much better and keep information flowing. Also Falcon just own less and less of the Beetaloo ! Going back to another POQ mistake in 2013 he gave up 26% of the total land in EP's 76 ,98 , 117; plus all of ep 99. Guess where all the action is? Correct on our land. Also Falcon only has 22.5% left on what is left. Minus royaltiy payments of 2% because we couldn't afford to buy them out. The CFO has no real duties a temp employee couldn't handle but still receives outrages stock options of 7,000,000 share and salary. Less than one year of POQ's salary would of bought out the overriding royalty. I was invested back when Falcon owned all of the Beetaloo, when a buyout was going to be billions not a few million. How much more can POQ give away ? 22.5% !
I think in POQ's message the key words are minor gas shows ! This well should be puking gas . Snorting and requiring flaring of gas . Minor gas shows explains the new collapse of the stock price. Of course I just bought back in hoping the next formation doesn't suck like this one.
It is very expensive. Regulations strictest in the world ! Costs and materials absorbent . Knowledgeable and competent employees very hard to find. Every well is 5 times higher than the US . Last well was over 24 million. Fracking is a new adventure with no previous oh just forget about it.
No Tesla for me, but Pure Gold up 230% since I bought it. Hey what ever happened to the arguments that you just can't drill in the rainey season ? Year after year POQ said we have to wait till summer. Empires well will be the third drilled in the rainey season. GLTA still watching but I own Origin not Falcon at the moment.
Why did Falcon have to pay the entire $150,000 for the extension till APRIL 30 2020 of the ORRI, But they only have to pay 22.5 % of the now 6 million dollar buyout? Seems to me they increased their costs and should have done the 22.5 % buyout now. Didn't Origin want to come up with their share ? They just increased their buyout an extra 238,000 dollars. Just wondering
The CEO signs the CFO's check and visa versa, sweet arrangement ! Also NT has recently implemented a strict 14 day self quarantine and banned all NSW and Victoria travel into NT. Aboriginal populations will be totally guarded in the NT. Recent news article. One more year wasted . Keep watching Origin which owns Beetaloo and it is very quiet, not a peep . May buy another 1000 Origin because of the dividend and 50% gain so far this year. Origin can wait another year and makes me good money and owns Beetaloo: Falcon can't , and this year is gone .
Sold my PLUG, kept ORIGIN , sold WMB early which quaddrupled but only made $2 a share. Holding Pure Gold which tripled and now have 14000 free shares. Only mention this because of picks mentioned here and wanted to update. Origin doubled and pays a 5% dividend. GLTA maybe Falcon will fly and hopefully I bought back in the day before LOL
Do you think this field is even worth spending money on ? Origin lost 1.2 billion on LNG, Shell lost 8 billion in Australia . Everyone involved in Darwin took huge write downs. The world is awash with gas with new fields discovered every day in countries that want and promote growth, while Oz has the strictest most restraining regulations in the world. Every export terminal can be turned into an import terminal for very little. Gas is cheaper to bring in than drill. Costs are 5 times higher in Oz than the US and Origin will drag their feet till POQ salary bankrupts Falcon. Partners are scarce and demand large percentages of the projects and everyone says Falcon is in the sweet spot but not one single oil or gas company wants what they have ! Even at 141 million dollar the market cap , not a sole will touch it. Why ? is everyone that has knowledge, money and expertise avoiding this exceptional play. Because it is not worth the gamble ! The cash rich companies which Origin is not can buy cheaper producing projects than mess with Australia.
Very good point ! Why send in any crews when at any moment it will be locked down again ? Look at the US ; many states, cities and local governments already starting second wave of lockdowns .
If you look at schmeil post it says total valuation of Beetaloo shale at 9.1 billion. How much of Beetaloo does Falcon own ? Very little ! So divide that by every entity in Beetaloo Basin . Take away every percentage of the many companies there and give Falcon's small percentage divided by a billion shares and maybe you can get to 25 cents max!
I agree, the 10 bagger I had hoped for when I was all in at 380,000 shares is not realistic anymore. Then the risk reward ratio was worth the risk. Now the risk reward ratio has narrowed; plus probably another 2 year wait , I might trade it but buy and hold is not something that has worked. Also very curious if Origin wouldn't be a better buy .
One billion shares, subtract 7.5% is equal to issuing , you fiqure it out. If you read later posts I also said unless they give up equity . You might want to talk to a financial counselor. So as you can see or can't, your one billion shares will get you less a lot less; just like issuing millions of more shares. Technically the same. Why don't you ask Ann in an email ? She may explain it to you. I'm sure she isn't busy.