Origin slide on the picture one and two reads Why the interest? 1 Marcellus shale now the largest gas production shale in US 2 From zero production 2007 to 20Bcf/day ~25% of total US gas production 3. Exploration of the shales in the Beetaloo Basin is where the Marcellus Shale play was 12 years ago 4. The Velkerri Shale play has similar characteristics and physical properties to the Marcellus in both (assuming) volume and quality
Everyone is saying that except the guys who shoud be doing the work. Normally i wouldn't care but this stock made me hyper sensitive. On the positive note Origin has quarterly report this month, so i suspect the drill will hit the dirt before end of the month as they need to report on the progress of their "integrated gas" strategy .
It seems everytime before big announcement the stock would trade at around 52 weeks low. If you remember 2016 before we hit .36$ we were trading at about .06$ few months before. (If i remember correctly we were drilling at that time) It did not make any sense then and it does not make any sense now. I think somebody who is very wealthy is just simply ****ed and settling the scores with POQ and the board..... by unloading their shares and laughing at us. I am sure they do not give 2s..ts if they loose or make money on this deal.
At this point I will not be surprised myself. We are half way through the dry season. We have not had approval to drill or frac and we really have no idea when those approvals will be done. If I was exec at Origin I would pull the plug on drilling this year unless NT government starts building the roads that will allow me to do this in the rain.
It is behind paywall but I think first few lines tells us what we need to know
UBS significantly upgraded its estimate of the value of the Beetaloo shale gas play in Australia, where Falcon Oil and Gas has a 30% stake. The investment bank issued a note on Origin Energy, Falcon’s partner, valuing Beetaloo at close to €1.2bn. Drilling is due to restart....
Origin had session yesterday with different local businesses. This is feed back I picked up on LinkedIn, but other then that things are really quite.
"The Darwin business community overwhelming showed up in force last night in support of Origin and its onshore gas exploration project in the Northern Territory hashtag #frackfreeshouldntbefactfree hashtag #jobs hashtag #opportunity hashtag #indigenousemployment"