The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Deals like this are done under strict NDA, so it is kind of makes sense to keep this quiet. Falcon also can choose to exercise the ROFR if they so chose, but since Tambo will do the same thing (but probably cheaper and faster) what Origin was planning to do , why would Falcon even bother with it. I think this is good deal for Falcon shareholders, but also I rather have Riddle on my side and working for me then woke Origin CEO.
I am thinking this thing will end up in court. When Origin announced 12 months ago or so they are looking for the partner. Falcon did not do anything, there for ROFR has been satisfied. Falcon did not offer to buy any part of Origin share and only start moving after the deal with Tambo was announced. This is not going to be simple.
I agree with Oleo falcon will be gone shortly and every Falcon share holder will be proud owner of new fresh Tambo stock not bad deal considering.
Tambo .15 US - half of billion shares or so - 38.5 %
Falcon .10US - billion shares, 22. 5 %
@BB I am very curious what will happen next week. I do not own Falcon anymore this is very much true but got plenty of Tambo stock so things that are happening right now are very relevant to my holdings
Since David Close left Origin does not have anybody who can push this project (very common in the big corp). The person that is there has bunch of other things attached to their responsibilities. . You can see how beetaloo slowly faded in the background and now completely inert. It went from being front and center to the foot note. As I mentioned before there will be no drilling until they get partner. Since company budgets are made year in advance they most likely cut that budget for beetaloo and they simply can not do what they need to do.
"three groundwater monitoring bores will be installed nearby". So that means they are not there currently. How is the baseline determined before the drilling.... Anyway let's see if Tambo does something with Origin. Ideally I really would like Tambo as an operator.
Little more on Empire. It appear that flair is no longer burning bright. So they maybe flowing different sections to identify the best frac fluid and tech.
https://apps.sentinel-hub.com/eo-browser/?zoom=18&lat=-16.70099&lng=135.10162&themeId=DEFAULT-THEME&visualizationUrl=https%3A%2F%2Fservices.sentinel-hub.com%2Fogc%2Fwms%2Fbd86bcc0-f318-402b-a145-015f85b9427e&datasetId=S2L2A&fromTime=2022-09-05T00%3A00%3A00.000Z&toTime=2022-09-05T23%3A59%3A59.999Z&layerId=6-SWIR
Tambo
https://apps.sentinel-hub.com/eo-browser/?zoom=15&lat=-16.50778&lng=134.50248&themeId=DEFAULT-THEME&visualizationUrl=https%3A%2F%2Fservices.sentinel-hub.com%2Fogc%2Fwms%2Fbd86bcc0-f318-402b-a145-015f85b9427e&datasetId=S2L2A&fromTime=2022-09-15T00%3A00%3A00.000Z&toTime=2022-09-15T23%3A59%3A59.999Z&layerId=2_FALSE_COLOR&demSource3D=%22MAPZEN%22
Origin :(
https://apps.sentinel-hub.com/eo-browser/?zoom=15&lat=-16.35082&lng=133.8839&themeId=DEFAULT-THEME&visualizationUrl=https%3A%2F%2Fservices.sentinel-hub.com%2Fogc%2Fwms%2Fbd86bcc0-f318-402b-a145-015f85b9427e&datasetId=S2L2A&fromTime=2022-09-15T00%3A00%3A00.000Z&toTime=2022-09-15T23%3A59%3A59.999Z&layerId=1_TRUE_COLOR&demSource3D=%22MAPZEN%22
Empire
https://apps.sentinel-hub.com/eo-browser/?zoom=15&lat=-16.70016&lng=135.09223&themeId=DEFAULT-THEME&visualizationUrl=https%3A%2F%2Fservices.sentinel-hub.com%2Fogc%2Fwms%2Fbd86bcc0-f318-402b-a145-015f85b9427e&datasetId=S2L2A&fromTime=2022-08-26T00%3A00%3A00.000Z&toTime=2022-08-26T23%3A59%3A59.999Z&layerId=2_FALSE_COLOR&demSource3D=%22MAPZEN%22
I sold all of my shares of Falcon last week after more then 10+ years holding and hoping for something. I figured I share my reasons.
1. Management team is not invested in the company
2. Board is just bunch of people who have very little experience running O&G except one.
3. High paying CEO have done nothing to increase the value of the company, happy collecting his paycheck and draining company resources.
4. Really bad communications with no real plans or execution dates.
5. JV partner who does not appear to want to move forward.
6. Other companies operating in Beetaloo, which are willing communicate the plans and deliver results.