Member Info for bonjourno

The lockin period for TEK with Microsalt is 1st Feb 2025 ie 12 months from first day of dealings.

Between now and then, either we will have more substantial news from Salt to reinforce its current level allowing TEK to rise or Salt will drift lower knowing TEK can sell in less than 2 months- the current arbitrage will erode

In the Investor meet 18th Jan about 17:30 mins in POQ mentions the option out and the fact that FOG could potentially buy back in if the well was a success- he estimates cost to buy back in at 3 times the initial drill cost but he is not precise. What he does say is that there are 718units across the Beetaloo and though missing out on 1 might seem a lot, it is relatively small in the grand scheme of things.

https://falconoilandgas.com/video-presentations/

look at his answer about 17mins 30s into the questions for 18th Jan 2023

Conserving cash and not diluting is a very good strategic move- the market has marked us down but you can't trade FOG shares as the risk of an opportunistic bid is increasing. Day to day you just have to ignore the small sells and accept that the big picture is only seen when the company gets sold.

Hi newtofo- isn't here an option for FOG to buy back into any wells which it has not fully participated in ? I recall POQ saying that they could do this - admittedly at a higher cost- but if the wells are a success then any future buyer just pays a multiple of the initial drill cost and regains the 22.5% or whatever they decide. Key here is the repurchase is based on drill cost not on the drill success.

Strategically this ability to decide participation at the outset with the ability to buy back in is a major benefit which the market currently just does not see. Any future buyers will see this and FOG is saved from currently diluting at such low levels.

And what about the debt in June?