Member Info for Oleo

Have Fog extended the Licence in Karoo or have they overslept the expire day in Dublin? Do we need another Mr Sheffield in South Africa that they wake up and become active there as well?

Asset Name : South Western Karoo
Ref : AF-ZAF-SWK
Continent : Africa
Country : South Africa
Location : Onshore
Project Phase : Frontier
Latitude : -32.7242
Longitude : 22.3854
License Start : 2011
License Expiry : 2021
Operator : Falcon Oil & Gas

indeed a cheap offer
https://www.farmoutangel.com/assets/south-africa-south-western-karoo/

https://www.investi.com.au/api/announcements/tbn/295c865c-f1d.pdf
page 37: Risks associated with the acquisition of the Origin Assets

7 days
and after 8 days we continue to count like -1, -2, -3, ...?

hay wetwater
you have to read the listed risks in this TBN presentation
https://hotcopper.com.au/threads/ann-tamboran-acquisition-and-capital-raise-presentation.6967897/#post-63793162
see page 37

Hmmm
Mr Sheffield triggered a very interesting situation in the Beetaloo with his move to controll the Beetaloo.

Perhaps this can become the effective trigger that not a white knight but a major thinks now that now it is time to join this thrilling shale gas poker round and chess game in the Beetaloo... and then I agree with your scenario, wetwater. But 29 days is a very short period for every oil company with deep pockets if Mr POQ has not the prepared and pre- signed contracts already in his drawer.

wet water
Oleo: I know a guy that loosely controls about 15 -20% of the outstanding Falcon stock. I also know the Falcon's Board is in Philips corner. If Philip is fighting to acquire 100% of the 4.6 million acre concession for Falcon's benefit, then I don't see BS getting enough shareholder support to do what you are thinking.

I hope you are right with this. But I think it will become a tough fight and I would be not surprised if the Texas oil billionaire has one more ace up his sleeve after keeping Dublin in the dark?

jfhealy
would like to hear what you have heard in Dublin

Did you hear anythink about a monkey wrench as wetwater?

what if when Mr Sheffield talked already to other big FOG shareholders and sold them his Beetaloo concept. Wouldn`t he be in the position to offer Mr POQ to fire him?

fracme: not sure if I mix it up with Serica Energy?

WetWater:
Oleo: I strongly suspect POQ is not taking BS's calls right now. POQ is going to deal with BS from a position of strength - you don't just give up the ROFR for a pancake and waffle :^)

I hope you are right that he is fighting for us Fog share holders as well and not just for his contract.

frackme: no shivers for me because it is Dr. Mello`s multi billion $ expensive learnig curve that lead to the world class discoveries Venus and Graff in Namibia in 2022. Chariot, I think this is the oil company that gave up to early in Namibia isn`t it?

BoToBo:
The new Beetaloo puppet Master presented already that TBN with Mr Riddle will be the operator of the Beetaloo and not FOG with Mr POQ.
I suppose that Mr Sheffield as important shareholder of Fog will invite Mr POQ to a breakfast for example and after this breakfast Mr POQ will not go to fight the TBN-Sheffield-ORG deal with or without 29 days left.
That`s my prognosis

newto: no worries about the second or third $. We will present a mouth watering Karoo concept and there will be enough share holders to finance our life style in South Africa and we both should keep our FOG shares because hopefully one well in the future will show a new record test production and this well will be the game changer in the Beetaloo - ;-)

Honestly: I am a big believer that Namibia, South Africa, Zimbabwe, Tansania, Mosambique will export huge amounts of oil and gas in the future. I think Dr. Hill from AOI said that just in Texas there were drilled more oil and gas wells than on the whole African continent. But it is not just the southern african rift systems where you find the Karoo everywhere as HC prone source rock, it is additional the eastern african rift systems and not to forget offshore (see publications of Dr. Marcio Mello)

FrackMe: I think Mr Sheffield made already the decision to operate the Beetaloo with the sharp Mr Riddle from TBN.

Haha newtofo. I start to like and would move to SA for this idea.

If South Africa has a value of zero for FOG the market cap of FOG has to be a little bit lower than the market cap of TBN in the future.

I offer 1 canadian $ for the South African Karoo asset. Anybody here who could help me to set up a public company, perferable a finance guy for the CFO position. LOL

TBN will stay in the Beetalloo, Fog not
TBN is the operator and has got the drilling rig concept, the access to the pipeline, the gas sales agreements , Fog not.
All hints show me that Fog will vanish from the Beetaloo. POQ is telling us also that Fog will be sold since how many years?
But till today POQ has not presented any buyer and we are still waiting for the first well with the definitive commercial test production rate.

No fixation BoToBo. FOG got a geological very promising shale gas asset in South Africa.
But POQ did not become active in drilling faster much more wells or proving commercial gas production rates, in securing the pipeline access (see pipeline LOI from TBN), in selling the FOG gas in the Beetaloo to a customer, in organizing a concept for the CO2 issue to get CO2 neutral sales gas etc because he thought that he has had outsourced everything to ORG succefully ending in a comfortable passive and lazy joint venture position.
My point is that I see the same pattern, the same passivity of POQ in South Africa. Just because such E&P projects take ages or have politcal troubles it does not mean that you stop all work on these projects. You have to be proactive, which is possible with a small budget as well, otherwhise you could lose the advantage of a dominating position in a basin easily.

- Fog had the dominating position in the Beetaloo basin in the past but POQ dropped this ball and has lost this position definitively. Happily we still got the Karoo in South Africa?

- TBN is now in the dominating position in the Beetaloo. The sharp Mr Riddle has overtaken Mr. O`Quigley. First TBN is the biggest acrage holder. Second they got an experienced shale gas drilling contractor on board (this guys know how to drill shale gas wells like a factory and they will bring this know how to Australia) Third Mr Riddley has sold a part of the Beetaloo gas to Org already. Obviously Mr O`Quigley has overslept all three points or was betting on the wrong horse Org (= loser upstream company)

- But Mr Sheffield is the new puppet master.

Will Mr O`Quigley be able to get some benefits for Fog`s shareholders or just for himself and his exit strategy with the 30 day clause in the joint venture operating agreement with Org? Well I think the last words will be said by the new puppet master.

Riddle versus O`Quigley

One option could be that the Sheffields merge TBN and FOG, but then there is a job just for one sharp CEO. One advantage of the TBN-ORG deal ist that TBN sold already a part of the production to ORG as part of the deal.
And I would expect that the Sheffields farm a part out to the Japanese for example.