Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
https://www.afr.com/street-talk/empire-energy-snaps-up-betaloo-s-pangaea-readies-raising-20210412-p57idd , hopefully it is readable to you. (but simple google search will give bunch of other articles) At this point Empire got all of the flanks of Beetaloo which is appear to be right move assuming they will get similar results on other permits as they did in Carpenteria-1. From FOG perspective to me this is the first of many acquisitions that we will see in the near future as those usually come in groups. Also speculation that we may have some acquisition activity in April now has very good chance to be true.
The prospects are shale gas plays in permits EPs 76, 98, and 117. A fourth permit, EP 99, has been surrendered back to the Northern Territory government as it was not considered core to the unconventional gas play.
https://www.ogj.com/general-interest/companies/article/17272430/falcon-farms-out-portion-of-beetaloo-basin-permits
Supporting article
https://www.livewiremarkets.com/wires/origin-ceo-quizzed-on-company-splits-and-power-pricing
https://www.energymagazine.com.au/connecting-the-dots-bringing-gas-to-market/ Some good reading while we wait
I have to say this gentleman who wrote this article is confident in his time frame for origin wells, now I do not know what is his source but sounds like Origin abandoning current well and starting again.
"Australian gas giant Origin Energy and joint venture partner Falcon Oil & Gas Ltd. have received approval for their two-well drilling campaign in the #beetaloo. The wells will be drilled between April and August. Then a comprehensive fracking program. "
https://www.linkedin.com/posts/paul-alain-hunt-7975b069_origin-energy-to-drill-two-new-beetaloo-wells-activity-6772030532269281280-qZ4p
https://soundcloud.com/energynewsau/empire-energy-on-the-verge-of-transformation
Very good overview
I have tiny holding of Origin, I bought with the few extra $$, plus they paying dividends so did not look like bad deal. Only problem I bought it using OTC market (OGFGF) , so I will never be able to sell with the current demand.
https://www.energynewsbulletin.net/exploration/news/1405612/origin-energy-to-drill-two-new-beetaloo-wells-from-next-month
Looks like we will be coming back and drilling 2H wells at Kyalla 117
Beetalloo: " scientists did not do this warning " that tacked on by the environmentalists groups, publications and flooded the internet with this BS, so simply it is now appear to be the truth since it was repeated so many times.
https://www.csiro.au/en/News/News-releases/2021/Tiny-new-species-discovered-as-scientists-outback-fishing-trip-bags-exotic-catch
Ones again internet is full of fracking damages this and that as result of the water study above.
2236 GMT - Origin Energy's investment in the Australia Pacific LNG project continues to pay dividends, but are investors mispricing the value of the power company's other businesses? UBS estimates APLNG is worth A$3.94/share, based on forecasts for oil prices, imploying the market is valuing Origin's other businesses at A$0.68/share. They include the Energy Markets division and an 80% stake in the Beetaloo Basin of Australia. UBS values the Beetaloo Basin assets at A$0.39/share currently. "We expect Origin to also benefit from recovering oil prices and a gradual recovery in gas margins as East coast gas supply tightens from 2023," adds UBS, which rates Origin a buy. (david.winning@wsj.com; @dwinningWSJ)
So we have big boys evaluating .39A$ for 80% Beetaloo so .39/4 ~ .10 A$ so price for the falcon stock is .7 cents.