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that the most revealing "tell" to me on the perspective profitability of the play is the position taken by the Sheffield's. Here's a team, with engineering support, that after a look in the data room, and dinner and drinks with a trusted acquaintance took a noticeable position.
Poods, it's not the logs that I worry about--it's our subservient position to Origin. Never underestimate the capacity of management to mismanage --especially in the E&P Sector.
Nam, I'm puzzled how is Empire's situation GOOD for Falcon?
This is an Empire specific targeting and will have no impact of Origin, but, as usual the share price was temporarily impacted.
" Empire Energy has been awarded three grants worth up to $21 million (Aus.) by the Australian government under its Beetaloo Cooperative Drilling Program announced earlier this year.
The grants will provide support for new exploration wells in Empire’s 100%-owned EP187 exploration permit in the Northern Territory Beetaloo basin.
The funds will offset 25% of eligible expenditure which may include additional seismic acquisition, the drilling of up to three horizontal wells in 2021 and 2022, fracture stimulation, and completion of the wells along with flow testing. The first horizontal appraisal well is expected to spud in this year’s fourth quarter.
The government program provides for $50 million of funding towards exploration activity carried out in the basin by end 2022. The maximum grant under the program is $7.5 million per well, capped at 25% of the cost of each well and three wells per venture. Related support activities, such as seismic acquisition and flow testing, are eligible under the program.
Empire Energy is the first company to receive approvals under the scheme."
dprussky, looks like you got the reason figured.
Mostly CIBC World https://money.tmx.com/en/quote/FO/trade-history
The jump in vol., but still low vol., and the jump in price would (for me) argue a cousin of a cousin was told to expect a Christmas present. I don't think that is too far of a stretch considering Tambo's US roots. Obviously, not a news release or even a news letter publication, as the vol. was too low for wide spread conviction buys. Although, looking at the TMX, the vol. was spread out amongst a number of buyers. So, guess we'll know more soon.
The only explanation that makes sense is Tambo is shooting the lights out with the flow rate.
Oh Boy.
Yes, Sasol would be an ideal partner in the Karoo. They are very aggressively pursuing NG to Hydrogen and my fav. Ammonia.
Blue and Green Ammonia sure looks to be the no brainer fuel for heavy equipment and Martine , especially since Bunker Fuel has been banned in shipping.
new,
I double and triple checked, and, yes...I think you are right. We'll just call it 1 for 1 to make it simple and a round down error correction to make it closer.
1 terajoules = 2.8 mmcfd
new,
Thanks, it is much appreciated. I've contacted TAMBO about the US listing on the OTC. Apparently, TBNRF is just a place holder presently. I'll let you know what they say.
And everything will change. Right now, all we have is a 5mmcfd pull it out of your butt number from POQ (which no oil man on the planet would write a check on). I have hope for TAMBO, and if I could buy their stock in the US, I'd switch out my FOG/ORIGIN in a New York second for it.
new,
So, the only downside to Origin's ****ing away $10s of millions on their obscenely expensive fiddling is they can acquire more of FOG's percentage holdings of the Beet?
I imagine the following taking place in Origin's head office:
CEO: What the Hell? !@#@#%& We've spent $70 million and got nothing?
VP of Exploration: Don't look at it that way, we can pass the cost on to our customers and force FOG to give up more of their holdings in order for us to continue.
CEO: Oh, that's kind of smart and kind of dirty....I LIKE IT.
FOG will never be able to dilute their Billion shares, they only thing they can dilute is their percentage position. Sigh.
Of course the concept of LARGE SCALE is really academic, as the plan to sell FOG's Beet holdings is expected to happen in the next couple of years. I'd expect with successful demonstration of excellent flows from Tambo and Empire, and hopefully Origin in 2022, we'll see several suitors for FOG's position. BTW, I see Inpex as the most suitable match with Origin for FOG's shares and Origin should find Inpex's Market Cap (2X's Origin's) as an attractive partner.
schlemiel, Oh man, when you lob one over the plate ''to be completed by 2028 if the Beetaloo development goes LARGE SCALE''. ... I don't think Origin's half dozen wells (some of them vertical) is going to fit the definition of LARGE SCALE development.
dprussky, I wouldn't worry too much about missing any new information. It will simply be rehashing previous investor slide show info and news releases. They can't say anything new and important without an accompanying news release. So, if there is no news release prior to the event, it wouldn't be more than a feel good holiday handshake. Maybe they could get David Close to offer some expert non insider comments on his expectations without worries of running afoul of regulatory guidelines. Of course, it would be too much to hope for that they would have one of their directors, Daryl Gilbert, take on technical questions with specific answers--as he's the one guy that knows something about shale gas.