Member Info for Oleo

"Some have a hard time accepting Falcon's 'backseat' position. "

It would be much easier to accept the loss of the driver`s seat, when POQ would do a great job of promoting FOG and driving the share price to a higher level instead of gifting FOG share parcels like cheap confetti to his new friends (or his new puppet masters?) from Texas on the expense of us long term share holders.

From a Santos presentation about the DARWIN LNG (DLNG)

https://hotcopper.com.au/threads/ann-2024-macquarie-investor-conference.7993608/#post-73738284

Project snapshot

Total Capacity 3.7 Mtpa

Reserve &

resource size1

Total Northern Australia 2P Reserves 2,045 PJ

Total Northern Australia 2C contingent reserves 4,679 PJ

Operatorship Santos

Ownership (Barossa) = offshore gas field

Santos 50%, SK E&S 37.5%, JERA 12,5%

Ownership (DLNG)

Santos 43,4% , Inpex 11,4%, ENI 11%, JERA 6%, Tokyo Gas 3,1 , SK 25%

Customers Diamond Gas International2 (Mitsubishi) - 1.5Mtpa, 10 years

Expansion

potential

Petrel-Tern

Browse Basin (Crown, Lasseter, Poseidon)

Betaloo and McArthur Basins

Third party gas

All of these facility owners of Darwin LNG (see ownership list) could be potential buyers of FOG. Did we ever hear that sleepy POQ set up a relation ship, started to talk with these companies for selling FOG? Does this guy even know that he has to create an environment with more than one competitor if he wants to sell FOG. Or does he follow his secret plan not to sell FOG? LOL

Although I have earned my money from oil and gas all my life, FOG is a very bitter lesson for me that has lasted an infinitely long ~15 years since entering the Beetaloo and will last a few more years. I estimate that a total of $1 billion will be invested before the first molecule of natural gas is sold from the beetaloo. This long pay back time is a torture for most of us here. At the moment I see the risk that Mr. Philip O'Quigley jeopardizes the long-awaited financial success for the long time share holders by his inactivity, not communicating the strategy for monetizing and perhaps allowing BS (who is a great oil man) to rip off long term FOG`s share holders.

....

The Beetaloo is in north-central Australia and underlies some 7 million acres of outback flanked on its northwestern corner by Daly Waters, a town on Australia’s 1,900-mile Highway 1 that stretches from Darwin to Adelaide.

U.S. Shale-catters to IPO Australian Shale Explorer on NYSE

Tamboran Resources’ Beetaloo Basin leasehold includes its and prior explorers’ appraisal wells. (Source: Tamboran Resources)

In several decades of exploration, including in 2015 by the late Chesapeake Energy Corp. co-founder Aubrey McClendon, explorers have invested more than $600 million in testing the Beetaloo’s Middle Velkerri B Formation that Tamboran has found to resemble the Marcellus Shale in its geophysical properties, according to the S-1.

The target is at more than 6,000 feet.

Tamboran has drilled six appraisal wells in the leasehold, including two early wells with a partner at the time, Santos Ltd.

Tamboran currently owns the six wells. They are shut in, awaiting gathering to connect to big pipe that travels alongside Highway 1, operated by Australia-based pipe and electric power company APA Group (not related to U.S.-based APA Corp., the owner of Apache Corp.).

Tamboran expects takeaway will be up to 2 Bcf/d from its leasehold upon full field development.

Including tests by others, 21 wells have been drilled through the Middle Velkerri Formation, according to the S-1.

In addition to Stoneburner, board members include Fred Barrett, co-founder and former CEO of U.S. tight-rock explorer Bill Barrett Corp.

Tamboran management includes Faron Thibodeaux, COO, who was Australia manager for Apache Corp. before Apache sold its Australian business in 2015.

Its CEO is Joel Riddle, who was previously with offshore explorer Cobalt International Energy.

Joint book-running managers for the IPO are BofA Securities, Citigroup and RBC Capital Markets. Co-managers are Johnson Rice & Co. and Piper Sandler.

Australia United States Marcellus Eagle Ford Haynesville

ASX: TBN

Tamboran Resources Ltd.

NYSE: PXD

Pioneer Natural Resources Co.

269.62 +38.2%

NYSE: XOM

Exxon Mobil Corp.

116 +10.55%

NYSE: LBRT

Liberty Energy Inc.

21.64 +80.25%

NYSE: HP

Helmerich & Payne Inc.

38.47 +25.45%

Https://www.hartenergy.com/exclusives/us-shale-catters-ipo-australian-shale-explorer-nyse-209061

EXPLORATION & PRODUCTION

U.S. Shale-catters to IPO Australian Shale Explorer on NYSE

Tamboran Resources Corp. is majority owned by Permian wildcatter Bryan Sheffield and chaired by Haynesville and Eagle Ford discovery co-leader Stoneburner.

Nissa Darbonne

Oil and Gas Investor

Sat, 05/04/2024 - 02:08 PM

U.S. Shale-catters to IPO Australian Shale Explorer on NYSE

Tamboran Resources Corp. is majority owned by Permian wildcatter Bryan Sheffield and chaired by Haynesville and Eagle Ford discovery co-leader Stoneburner. (Source: Shutterstock.com, Tamboran)

U.S. shale-catters, chaired by the Haynesville and Eagle Ford shale discoveries’ co-leader Stoneburner, have filed an S-1 for an IPO of Australian shale-gas explorer Tamboran Resources Corp.

U.S. Shale-catters to IPO Australian Shale Explorer on NYSE

Stoneburner (Source: Tamboran)

The group plans to trade on the New York Stock Exchange as TBN, according to a Securities and Exchange Commission filing. The S-1 did not include an estimate of the total funds to be raised or the price-per-share range.

Australia-listed Tamboran’s (ASX: TBN) largest shareholder is Bryan Sheffield, founder of Permian shale developer Parsley Energy Inc., which he sold to Pioneer Natural Resources in 2021 for $7.6 billion.

Pioneer was bought by Exxon Mobil Corp. last week for $59.5 billion in stock.

Stoneburner, a career geologist, co-led Petrohawk Energy Corp. in the early days of leasehold capture and delineating the shale-gas Haynesville play in northwestern Louisiana, beginning in late 2007.

In 2008, Petrohawk made the liquids-rich Eagle Ford discovery well.

U.S. Shale-catters to IPO Australian Shale Explorer on NYSE

Bryan Sheffield (Source: Hart Energy)

Upon selling Petrohawk to BHP Billiton in 2012 for $15.1 billion, Stoneburner was president of BHP’s new North American shale division.

In addition to Sheffield, Tamboran investors include leading U.S. shale pressure-pumper Liberty Energy Inc., which sent one of its frac spreads to complete the most recent well, Shenandoah South #1H, in December.

The well had a 30-day IP of 3.2 MMcf/d from a 1,644-foot section of lateral that was completed with 10 stages. The 60-day flow was 3.0 MMcf/d; the 90-day flow, 2.9 MMcf/d, according to the S-1.

Normalized for a 10,000-foot lateral, the 30-day flow is equivalent to 19.5 MMcf/d, Tamboran reported in the S-1.

Another investor, Helmerich & Payne Inc., a leading U.S. shale driller, drilled the well with one of its newest FlexRigs, which are operated onsite as well as remotely from H&P’s Tulsa, Okla., headquarters.

Resembles Marcellus

Sydney-based Tamboran holds 4.7 million contiguous gross acres in the targeted Beetaloo Basin; net, 1.9 million acres, according to the S-1.

Gonoles

I think Mr. BS (respectively the family Sheffield) is the puppet master pulling the strings now.

POQ is getting cornered and says only: Yes Sir, when it becomes a situation to make the next steps for FOG. This guy gave up the dominating drivers seat position of FOG in the Beetaloo Basin. FOG could have been in the position of BS as puppet master of the Beetaloo and as TBN as dominating operator in the Beetaloo. Now we depend and hope the plan of Mr BS will have a good ending for Fog long term shareholders.

TBN filing for the going public IPO in the US is ready to go all in:

Wow "We currently have on contract with Helmerich and Payne, Inc. (NYSE: HP), one H&P FlexRig® until August 2025 with a 10-year option to contract for up to five additional rigs."

With 6 rigs doing factory drilling many horizontal wells can be drilled. And you will need a real big customer for the gas, produced from these wells in the future.

TBN shares will be sold to the US market. But whats the game plan for Fog. For whom the Fog shares are earmarked in BS's monopoly Beetaloo gas game?

What do you think. will BS sell the Beetaloo to Exxon or his arabic OPEC friends or to the Japanese. Perhaps this is the reason POQ as puppet of BS does not show any activity anymore , because BS is executing already his master plan for the Beetaloo. It would be a very, very unlikely when Mr. BS does not follow his master plan for the Beetaloo and for FOG.

https://www.ogj.com/general-interest/government/article/55036871/us-regulator-approves-exxonmobil-pioneer-deal-bans-pioneer-ceo-from-board?o_eid=7129H9430978H4L&oly_enc_id=7129H9430978H4L&rdx.ident[pull]=omeda|7129H9430978H4L&utm_campaign=CPS240501116&utm_medium=email&utm_source=OGJ+Daily

I think this binding agreement is good.

But with FOG`s reduced and diluted gas production share , FOG will have only enough own gas to run the gas dehydration unit before the gas is sold.

... and when the flare is strong and shows no respecively small decline

FOG sells share for the lowest price of 6 pence

https://apps.sentinel-hub.com/eo-browser/?zoom=17&lat=-16.84101&lng=133.65144&themeId=DEFAULT-THEME&visualizationUrl=https%3A%2F%2Fservices.sentinel-hub.com%2Fogc%2Fwms%2F42924c6c-257a-4d04-9b8e-36387513a99c&datasetId=S2L1C&fromTime=2024-04-17T00%3A00%3A00.000Z&toTime=2024-04-17T23%3A59%3A59.999Z&layerId=6-SWIR&demSource3D=%22MAPZEN%22

Especially with the good performing test production currently. How can you sell so cheap with this good well test results?

"it turns into a love fest for Bryan Sheffield."

Gonoles, yes especially when he can take over FOG for 6 pence per share.

It is what it is: POQ does not work for us long time share holders.

Frackme

... If oil and gas was still a thriving industry and not in wind down mode then maybe Falcon could do better but the reality is there is likely 20-30 years left in oil and gas at any significant level (as it will go on at a reduced level for way longer) and any buyers will know that Falcon can't unlock the value in the asset and the longer we have to give up stakes in drills thr value reduces. ...... no worries today we consume more stones than the people in the stone age. Another example: black coal is the dirtiest of all and 18th century. But reality is that mankind has never burned more coal than today. We have not reached the peak of coal consumption and listen to people who sing the song of the hydrocarbon age. No worries at least mankind will need mor gas the next 50 years is the other prognosis with a cristall ball.

"... have been on both sides of a few deals in my time but every deal is different and what you really want in any deal is competitive tension between two interested parties. ... "

100 % agree. And to create such an environment POQ should tell every man and his dog the Beetaloo FOG story. to get a competitive tension . The higher the share price the higher the take over price.

WHY does the Empire Energy boss make more and louder marketing than the boss of Falcon for the Falcon/TBN well test results? WHY is POQ so quiet???

" I'd say it will be bought within 18 months for between 500m and 1bn and there may or may not be one more small raise before then. "

If somebody overtakes FOG for 500 million $, this would be a grand theft for me. I estimate that during all the years FOG has invested more than 500 m $ and even more true when you calculate the present value of the in the past invested money in the Beetalloo.

For example YPF goes all in now in Argentina to produce shale gas/oil:

"Argentina M&A Opportunity! YPF plans to offload a significant part of its conventional upstream business, enabling it to focus on its Vaca Muerta assets. The company's conventional production is around 135,000 bbl/d oil and 380 MMcf/d gas - this is a potentially transformational opportunity for the country’s small to mid-size E&Ps.

Welligence has done a deep dive on the divestment program. In our report, we analyze the following..."

There are people, companies who see a good value for shale gas/oil. It would be stupidity on the one side and a grand theft on the other side when FOG gets overtaken for small pocket money.

I think personally that your figure is cheap. If you go back in time and look at POQ's valuations charts this is way too cheap for wells that are flow as good as the best in the states. I think much higher....this guy will to quote him " extract the maximum out of a buyer" ...keep in mind his options....just my opinion...Camelot

I assume it will be difficult to find a buyer who is willing to pay the 10 fold share price. But I also think that overtaking FOG for 1 US$, 1 british Pound is too cheap. And thats the reason I think it is POQs job to show more activities for increasing FOGs share price. Otherwise I see the risk that somebody could overtake FOG with a too low share price.

I guess that BS likes the driver`s seat most and that should be a reason that he wants to keep the operating company TBN. He influenced TBN and the operations already by bringing H&P and Liberty to Australia as shareholders of TBN. This can be a hint that TBN will remain as operator in the future. EEG is the second operating company. For the playbook it could be one option to merge EEG and TBN and get some synergies (like one management instead of two for example).

FOG is the most attractive company for a company that does not operate the upstream in the Beetaloo and does not have the extensive US shale gas know how, like INPEX for example. For a good cooperation it makes sense that a company which operates, owns the LNG facilities in Darwin becomes a stakeholder in the Beetaloo upstream as well.

On the other hand FOG is perhaps the financally most attractive gem in the Beetalloo . And this could be a reason that BS wants to keep FOG for himself, like a nest egg? Ofcourse I would like to see that FOG is sold for a billion $ or more in the near future. On the other hand in the case FOG becomes a dividends generating company in the Beetaloo I hope we are still alive to get the dividends because we are waiting already too long.

We can be sure BS is the dominating stakeholder in the Beetaloo Basin by influencing FOG, TBN and EEG with his share plus his Daily Waters company. and that he has a plan for the next 5, 10, 25 years. Unfortunately his plans for FOG are not published.

So my speculation is that TBN will be the operator in the future and FOG is the take over target for a company with LNG trains in Australia.

The difference is. TRP is in Namibia offshore but not in the Orange Basin, where I think six discoveries have been made by big oil companies (Total, Shell, Galp) together with smaller exploration companies (Sintana Energy, Pancontinental, Africa Oil). The trend for the petroleum geology, the discovered reservoirs is proven there now. Thats the reason the small explorers can make some dollars there now.

It is needed that a discovery is made in TRPs block or in the neighbouring blocks , firstly in Namibia.

The infrared satellite foto of the flare is still looking strong. Conclusion: good gasflow from the reservoir into the hydraulic fractured area with minimum decline. This is a very strong support / hint that we get a commercial production well.

@BeetaLong

do you mean the slide at 08:25?

https://www.youtube.com/watch?v=ugE08bg9Voc