Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
All I am saying and questioning for years and years is why, even before fracking was banned why couldn't we drilling in a f**king dessert and now we can ? Plus why and I stated this years ago how did Origin get a pass on exploration ? Origin should own nothing they never honored the contract ! No company has won a lawsuit against the NT government because they categorically said and affirmed you can still explore !! That is what Origin was granted on OUR lease ! Oh well give POQ some more cheaper options and every year they get cheaper , don't hold him accountable ,and pay him for another year of incompetence while shareholders keep losing their azses. And yes this is their first wet season !
The way I see shareholders losing out is by issuing more shares to fund stage 3 , or as some suggested give up some of the 30% we own. The weather delay, if severe enough would add to the cost over runs , remember for years POQ said you just can't drill during the wet season . Well here we are drilling threw the wet season. Why wasn't this done years ago ? Every one thinks Brunner diluted us , if we have to raise $20 million dollars that would add 134 million shares that would be Falcon's cost for just 2 wells. Probably everyone would still be happy to sell out early at a profit,
I believe all the points Poods, you and myself have made show that Falcon is capable of losing most of this field or receiving very little financial reward. I like the idea of a RS because we have no way of raising money without a strong share price. I also feel that all the delays have now forced us to raise substantial amounts of money in the near future to get this field proved up. Origin as I have stated many times before, should of been required to have continued to explore as per contract ! Now with all the time lost and the cost overruns they are coming out to haunt us . Even a long weather delay , which I check periodically, could decrease all shareholders potential reward greatly. I see no results coming in 2019. Can we skate through 2020 ? JMO
Believe your right on ! If this would be the 2nd or third well I think it would be an easy call to do a quick evaluation but being the first I believe a full core and down hole logging will be conducted that is why I thought a pause where the drilling stops, to test, evaluate and study the results would happen after TD reached. Again JMO
You can analyze on the fly and do a lot of logging and it works great on wells redrilled in the same field after more comprehensive logging has already been done on the field, but I'm guessing that they will do a full core sample of the formation, instead of side wall or off of mud samples. This process takes more time but you get better results and the next wells you can then make educated guesses, but for this the first well they probably won't gamble and want best info. JMO
I believe it has been stated that total depth will reveal quite a bit of information and even if we will drill horizontally . The well will determine by measuring hydro carbon maturity, saturation and reservoir quality. Additionally it will give us more detail on areal distribution and ability of liquids to flow threw formation. TD will be disclosed to public when reached quoting POQ. It has been 11 days and some suggested we could reach TD in 7 days , which was and is total fantasy . Should be only 3 more weeks , give or take : then I believe a pause to determine if it would be prudent to do the 1000 meter horizonal drilling. This decision to drill or not is crucial to any investor, and a no drill decision would be detrimental to the stock price while a drill decision will just mean lets wait and see with no price increase. JMO
There just won't be any results this year, and if they do drill threw the rainy season doesn't that show that Origin should of and could of lived up to original exploration contract years ago and deserves no part of this play because they have stalled and failed to fulfill their commitment ! Maybe POQ was telling the truth when he said he would update market when spudding was done and drilling commenced it just hasn't happened ! Seems like if Origin wants to sit on this rig threw rainy season it would be fine, it sat idle for over a year plus , wasn't rebuilt until after contract signed in January ,it is sort of underpowered and outdated , maybe Ensign just glad to see anybody want this rig after making a big zero on it for last couple years !
Thanks for reevaluating your previous comments, again. Of course it was an easy assumption based on POQ's statements. This rig should of already been on site ,drilling done and fracking started. Origin could of and should of had all the preliminary done. They have had the right and responsibility to explore. If as every one says NT would do everything to get Beetaloo done, then why is Origin not living up to it's contractual agreements to explore? This will add million plus to this well ! Falcons cost going up. Plus no results this year !!!
Sounds like Hungary all over again , think we hit $5 plus, but field didn't prove out and billions of MCF left in the ground, can we get just one commercial well before we hit $5 a share ? Don't you see natural gas getting cheaper every day ,more being found, a lot doesn't need fracked, just a few miles away, so wells must come in a hell of a lot cheaper than what we have been able to do so far, a lot cheaper or this gas will stay in the ground also. These estimates are based on fantasy.
No material events reported so HOLD and HOPE, of course this didn't work well in the past ,the billions of MCF's left in the ground in Hungary, and everyone thinking this will be a giant commercial field , your guess is as good as mine ,because that's all we can work off of ! POQ's silence is deafening.
So let's management do whatever, let's keep pertinent news a secret, let's be the last guy to know, I mean bagholder. What do I care if the stock goes down over the winter because drilling is put off till spring ! Let's all just buy more and average our price down. Why should I care if we are told we are in great financial strength then we sell more even cheaper shares to raise money, he can say what he wants. Why are we at yearly lows because POQ said drilling would start in September and he would let the market know when drilling commences. I agree none of this matters! Why do Due Dilli when you have uncle Philly . I read everything , source everything you can invest in a pig in a poke but I don't think real investors do!
First , Origin doesn't own one acre of Beetalou they work for Falcon ! They haven't earned Nothing ! POQ works for the shareholders , who want to see price appreciation, when he sold his options he didn't wait for the "DEAL", he took the money. When Exxon came into Hungary , everyone thought big rewards coming , of course it wasn't a sure thing just like Beetalou is NOT a sure thing. Some people sold and made money. Maybe you don't want to gamble but want to profit from this play : why wouldn't POQ get the price up for us shareholders? This could be another bust. Falcon is the owner , Origin may earn a piece of this project , they don't dictate to Falcon anything and are required to update us! POQ doesn't have to bow down to Origin, and should release all pertinent facts. Origin in my opinion has violated their agreement by not doing the required exploration as prescribed and left us hanging. The exploration WORK SHOULD HAVE BEEN DONE PREVIOUSLY per contract. Anyone who thinks POQ is trying to work on the ultimate deal and is keeping quiet needs to reevaluate the equation. Our property, your my employee and I demand to know what is going on !
They could buy it now, why are they waiting ? Your remarks about FOG's through away cost nothing, but a few fees , big difference ! So again why don't they or someone pounce now ? Ain't 15 cents cheap enough ? So I guess that is negative or rational thinking. No one is buying it cheap, you figure that out and get back to me.