The not so good news of today: only 75% are carried by Org of 2022s work program
Falcon Oil & Gas is pleased to provide an update on the Beetaloo Sub-Basin. 2022 will see Falcon Oil & Gas progressing to the Stage 3 work programme of the restated Farm-Out Agreement, which will include the drilling, fracture stimulation and extended production test of two horizontal wells.
“This is an extremely important period for the Beetaloo Sub-Basin and we are delighted to have confirmed a high-impact, extensive and really exciting work programme for the joint venture.
“Falcon remains largely (circa 75%) carried for 2022, with the balance of costs being funded from existing resources. Positive results here will provide a further line of sight to the commercialisation of the Beetaloo and could lead to a pilot development program in 2023.” - Philip O’Quigley
By the way, I know another well, that got a monster potential which is in the drilling phase now and should be tested soon, if successfull. It's a conventional reservoir target and if successful I a expect a hughe flare.
Will be exciting days in 2022 when the horizontal wells will be drilled by Org (hopefully successful, hopefully by applying the lessons learned, hopefully by not repeating the same mistakes I.e. casing diameter restriction etc), During testing we will spot the infrared satellite images from the well site again. Perhaps Fog could install some web cams on the well site as well?
RE: Jan 18th Sentinel 2 Update FLARE visible19 Jan 2022 08:04
There is a high probability that somebody posted this link already. I just read it recently and think it is a very good written 55 pages research report about our neighbor Tamburin Resources, covering Fog and Org as well. https://www.tamboran.com/wp-content/uploads/2021/10/Tamboran_Initiation_Final_300921.pdf But be careful, it increased my blood pressure again when reading page 22, where you find the information that the Org/Fog well had -A casing collapse -They were not able to drill out the frac plugs -They had lifting problems during the clean out But hey, there are much more things that can go wrong during operations as tools lost in hole etc (end of being sarcastic) Fog, we have a serious problem with the operator there.
After checking Tamburan I think the rising Fog share price is perhaps just the catching up with the market capitalization compared with the other Beetaloo players?
RE: Jan 18th Sentinel 2 Update FLARE visible19 Jan 2022 05:14
There is a famous picture: it shows the earth at night using satellite fotos. On foto before the Bakken boom and the other during the Bakken boom. On the first foto N Dakota is just black. On the second picture N Dakota is full of lights, compareable to areas with high and rich population. The lights come from drilling rigs, production facilities and flaring. I think the first time I saw this picture from a SPE Shell or BP presentation some years ago.
Since many years I like the idea to identify flares from big oil or gas production test. I think Depruski was the first who posted here links with promising satellite images. But it was Hydrogen who discovered this impressive infra red images for the first time. Thank you very much again.
The share price move from Fog puts a smile in my face. But I do not understand the share price reaction of Tamboran in Australia
PS: the exploration colleagues do amazing things in oil and gas companies. For example they can identify oil seapages on water with satellite images. With this technique you can get a hint for screening large areas to have a closer look for exploration wells
RE: Visible Flares confirmed in overnight radar + 9 days of testing)17 Jan 2022 05:58
I like the swarm intelligence here on this board.
The longer the hydrocarbon molecular chains, the more liquid the hotter the flare. No idea if this T difference can be seen on the sentinel satellite infra red signatures?
H2 has posted the satellites images on hotcopper on the Tamboran board. But here on sle he gets more excited recommendations than down under light bulbs. In Australia there should be more excited hotcoppers who understand the potential of the Beetaloo - any explanations?
Encouraging? For Tamboran yes, they sit on the bright site of the concession. We were not able to get compareable infrared satellite signatures when Fog/Org were testing, So we sit on the dark side of the concession.
Hopefully Tamboran can present commercial flow rates soon, hopefully Fog/Org can copy the recipe from Tamboran.
Thank you very much for the satellite image links.
Exploration - appraisal - development and production:
As long as commercial production rates cannot be demonstrated, we will not see the share price for the billion dollar price/value of Fog.
A buying oil company will ask: where is the sweet spot of the Beetaloo And secondly: which completion, how many meters for the horizontal section with how many fracs, which spacing etc do we need to get the best production
At the sweet spot you earn the most of the money because there you get the highest gas production and the highest hydrocarbon condensate production. Sadly we cannot answer this questions and we are far away from having presented such a sweet spot with a commercial production rate.
Amungee fu#k up:
6 from 11 plugs not milled out and not removed at the Amungee NW 1H is grossly negligent.
If the operator would have cleaned out the whole horizontal section, there would be a good chance that a commercial production rate would have been demonstrated already and Fog would be in a much better situation ( no oil company would put money on the table for a hypothetical normalized production rate)
Perhaps somebody like Poods could mention this at the AGM? And what actions POQ has started to tell the operator that this is not okay at all.
As I said: a new completed and fractured well and 6 plugs are still in place. This is grossly negligent against Fog and even Org share holders.
What's the plan from Org to improve this situation at Amungee NW 1H ASAP? What's the plan from POQ to motivate the operator?
Strange Kyalla 117 operations:
Oh, sorry we have a restriction in the horizontal section of Kyalla 117 and have to wait some months till the rain season is over. And after some time: uuhmm, no there is no restriction there. Hmm, so why Fog and Org cannot communicate clearly what is going on there. Are they still not able to run a tool in hole to total depth as I would expect as quality control with a caliber? Or do we have a fu#k up there because the water saturation is too high or because a natural fracture full of reservoir water has been hit? Or do we just have to lift the spent frac fluid out of the hole? So, what are the plans for Kyalla 117 for the next steps or do they still not understand their problems downhole? Do we have a problem that can be solved, like installing a pump for the spent frack fluid? Or do we have a complete fu#k up at the Kyalla 117 because we drilled into a formation full of reservoir water (and not enough gas and condensate)?