Member Info for Origin789

Tamboran Resources Focus for 2022:

Delivering on ambition to accelerate commercialisation of ‘Core’ Beetaloo
? H1 2022: Acquire 90 kilometres of 2D seismic over ‘Core’ Beetaloo acreage.
? Mid-2022: Commence drill and fracture stimulate of M1H, targeting confirmation of commercial flow rates within EP 136.
? H2 2022: Target initial booking of 2C contingent resources from EP 136.
? H2 2022: Finalise Jemena-Tamboran Joint Venture (“JTJV”) MOU to align upstream and midstream interests.
? 2022: Continue flow testing of Tanumbirini 2H and 3H wells, subject to further test results.
? 2022: Prepare plans for proposed Maverick Pilot Development.

Macro factors favourable to realising Tamboran’s vision:

- Gas shortage, decarbonisation and energy security are calling for low-CO2 Beetaloo gas.
-Developed Committed Potential Maverick Pilot Development Anticipated....
- Proposed Maverick Pilot Development first gas target Macro factors supportive to Beetaloo gas development
- Gas recognised globally as a key enabler of energy transition. Customers and investors are asking for low-CO2 gas.
- Significant underinvestment in new gas developments has resulted in record gas prices, with Asia LNG prices trading above US$30 per mmBtu (typically ~US$5 per mmBtu).
- Declining East Coast gas production and a structural gas shortage provide opportunity for the Beetaloo Sub-basin to be a material domestic supplier in the future.
- Beetaloo gas is also well-positioned for LNG export by 2030 when LNG projects in northern Australia / Gladstone require backfill.
- Australian Federal Government providing funding and policy support to the development of the Beetaloo gas resources.
- Increased focus on energy security amid global geopolitical tensions.

The Beetaloo is pretty much off most people's radar, but it makes perfect sense to me. My main concern is the casing deformation at the Amungee, giving us only a 200m horizontal section to work with, and it appears that Tamboran had similar issues with both of their casings too, I'm optimistic about the play, but this makes me a little nervous!

This is starting to look interesting!

The frack free NT will most likely be behind this, any excuse to create hysteria. Victor is sanctioned anyway, and the world is in need of Aussie gas to help free ourselves from the Russian strangle-hold. Stopping Origin now would help feed Putins pockets and help fuel WW3..

It is amusing to hear these new excuses to try and stop progress in the Beetaloo...
In most countries, the opposite view holds, to help free the world from the Russian monopoly on gas. Surely the simple answer is to freeze their assets, and then give Beetaloo companies the help they need to speed up the exploration and free the world of the Russian strangle-hold as soon as possible. Long knifes $3 a share will make a good place to start the bidding.. $5 would seem like a fair price considering where we are at the moment! GLA.

Well done on calling the RNS. From what I've read so far in the UK, the sanctions will just freeze assets of oligarchs close to Putin, but there will likely be a call to increase the severity if Putin continues with the invasion on Okraine.

Thanks Newtofo for your information. Germany is to build two new LNG terminals to break free from Russian Gas and with Putins sickening actions, surely the rest of the world will follow suit. This is the beginning of the end for Putin. The market forces are fickle, but could the Gas shortage + Lack of exploration + Putins Lunacy + Growing Demand (?) = Big Bucks for Australian Gas.

https://www.offshore-energy.biz/germany-to-break-free-from-russian-gas-with-two-lng-terminals/

With most of Russian Oilgarchy now under sanctions, it is possie / likely that out biggest shareholder is now under sanctions. How does this affect Falcon shareholders, should there be a sale whilst the sanctions exist?

Putin could have nailed the coffin for the Nord Stream supply to Europe. I believe Europe and the world (excluding China) will abandon future gas deals with Russia, and seek a supply from a responsible stable country. Australia's door will be open to very good offers soon!

Wintershall Dea, one of the main European investors in the Nord Stream 2 gas pipeline, said it expects to be compensated for the €730mn it has invested in the project if the fallout from Russia’s invasion of Ukraine prevents it from becoming operational.

The German group, which is Europe’s largest private energy exploration and production company, is one of five companies to have lent money to Russia’s Gazprom for the project, alongside Shell, Germany’s Uniper, France’s Engie and Austria’s OMV.

After years of supporting it, the German government announced on Tuesday that it would suspend the approval of Nord Stream 2, in retaliation for Russia’s actions.

US President Joe Biden said on Wednesday that his administration would also impose sanctions on Nord Stream 2 AG, the wholly owned Gazprom subsidiary building the pipeline.

In its annual report published on Thursday, Wintershall Dea said that “even if there might be a delay in commissioning due to the not yet completed certification process, we expect that the contractual obligations towards the financial investors will be fulfilled”.

It added: “Should the commissioning of Nord Stream 2 be prevented by political intervention, we assume that the project company will be able to enforce compensation claims. Currently, Wintershall Dea sees no reasonable scenario in which there will be political intervention without compensation.”

Oligarchs at the heart of Putin’s inner circle and banks which have bankrolled the Russian occupation of Crimea have been targeted by the first wave of UK sanctions in response to Russia’s further violation of Ukraine’s sovereignty.

Following the Prime Minister’s announcement to the House of Commons, Foreign Secretary Liz Truss is today (Tuesday 22 February) designating the initial tranche of sanctions on Russia. The sanctions package targets oligarchs and banks associated with the Kremlin.

Foreign Secretary Liz Truss said:

This first wave of sanctions will hit oligarchs and banks close to the Kremlin. It sends a clear message that the UK will use our economic heft to inflict pain on Russia and degrade their strategic interests.

And we are prepared to go much further if Russia does not pull back from the brink. We will curtail the ability of the Russian state and Russian companies to raise funds in our markets, prohibit a range of high tech exports, and further isolate Russian banks from the global economy.

These will be surgically targeted sanctions that will hit Russia hard.

Using new powers introduced on 10 February, the UK has frozen the assets and imposed travel bans on 3 leading members of the Russian elite of particular significance to the Kremlin: Gennady Timchenko, Russia’s sixth richest oligarch, and Boris and Igor Rotenberg, 2 long-standing associates of the regime.

Assets of 5 Russian banks involved in bankrolling the Russian occupation have also been frozen with immediate effect...

author avatar image
By Alex Finnis
Reporter
February 22, 2022 11:25 am
Boris Johnson has confirmed that the UK will impose sanctions on Russia, after Russian President Vladimir Putin ordered troops into Ukraine on Monday night.

It came after the Russian leader signed a decree recognising the Donetsk and Luhansk regions of eastern Ukraine as breakaway states.

President Putin said he had ordered troops and tanks into the regions as a “peacekeeping” mission, but Western leaders have interpreted this as a de facto military invasion.

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Health Secretary Sajid Javid told Sky News on Tuesday morning: “We are waking up to a very dark day in Europe.

“It’s clear from what we have already seen and found out today that Russia’s President Putin has decided to attack the sovereignty of Ukraine and its territorial integrity.

“We’ve seen that he’s recognised these breakaway eastern regions in Ukraine and we can already tell he’s sent in tanks and troops, so I think from that you can conclude that the invasion of Ukraine has begun.”

The Prime Minister has vowed to swiftly introduce the “first barrage” of sanctions against Russia, saying President Putin seems “bent on a full-scale invasion” of Ukraine. The US and EU have also confirmed they will place sanctions on Russia.

But what exactly does this mean? Here is everything you need to know.

What are sanctions?
Sanctions are measures imposed on a state, group or individual as punishment for certain actions.

There are three types of sanctions that are more commonly used; economic sanctions, diplomatic sanctions and military sanctions.

Here’s what they each mean:

Economic sanctions: commercial and financial penalties such as levying import duties on goods, restricting exports, refusing to trade with a state, investment bans and targeting companies from a state
Diplomatic sanctions: political measures that aim to demonstrate displeasure with or disapproval of certain actions, stopping short of taking economic or military steps, such reducing or removing diplomatic ties by, for example, getting rid of a state’s embassy
Military sanctions: military interventions, ranging from arms embargoes to air strikes and full-scale attacks
In 2020 the UK imposed sanctions on 49 people and organisations behind notorious human rights abuses, including Saudi Arabian officials involved in the 2018 murder of journalist Jamal Khashoggi, and those implicated in the death of Russian lawyer Sergei Magnitsky in 2009.
They had their UK assets frozen and were banned from entering the country.

What sanctions will the UK impose on Russia?

Ukraine is not part of Nato. If it were, Nato’s war alliance means that all 30 member states, including the US and UK, would have to launch an armed attack against Russia to protect Ukraine.

But since Ukraine is not a part of Nato, the Western response to a Russian invasion of Ukraine will initially focus on financial sanctions.

Foreign Secretary Liz Truss said on Monday that sanctions would be directed at Russian individuals and companies with assets in the UK, which will affect the Russian economy since many of its wealthy oligarchs have their cash tied up in the UK.

Following Tuesday’s Cobra meeting, the Prime Minister said the UK’s sanctions would hit the “economic interests that have been supporting Russia’s war machine”.

“They will hit Russia very hard and there is a lot more that we are going to do in the event of an invasion,”

Thanks Schlem, That's great news about Sheffield upping his stake, this is a man in the know, with plenty of experience in this game.

If you log into the investor Meet platform on https://www.investormeetcompany.com/investor/meetings then you can access the recording of the meeting there. The platform is easy to use, so worthwhile.

Yes, thats correct Sinceday1, that's definitely the best option for most of us long suffering shareholders!

I wasn't totally clear on the monetisation when Falcons share of the Beetaloo is sold. Did I hear correctly that our shares will be sold for cash, if so, does that mean that our 7 million acres in the Karoo will go with the sale?

Yes, I'd agree with Newty that todays Q&A was very good, the Q about the consistency of the geology was addressed, though this is something the operators are looking at and sharing their knowledge with each other.
It seems that two successful 2000m horizontal fracks this year will prove up 1/8th of our acreage at the appraisal in the region of $4000 per acre, as Newtofo states below:
POQ's indicated that potentially 1/8 of Falcon's acreage (that is accounted for in what Origin calls the Amungee zone with the current 6.6 TCF of contingent gas resources) could eventually be worth $4000 per acre. This would put that 125,000 acres very close to what POQ calls the "appraisal rate" -- if the next two horizontals in the Amungee, at 2 km in length, flow at 5 mm each. Since the remaining 7/8 of Falcon's one million acres would only be at the "exploration valuation" in later 2023 -- then that 875,000 acres may only be valued at $1000 per acre.

Recent Share Trades for Falcon Oil (FOG)
Date Time Trade Prc Volume
02-Feb-22 14:37:06 9.35 650,000
02-Feb-22 09:31:35 9.35 1,300,000
02-Feb-22 12:55:19 9.40 360,000
02-Feb-22 16:30:37 10.10 1,854,500
03-Feb-22 16:10:24 10.75 100,000
03-Feb-22 16:09:07 10.75 100,000
03-Feb-22 17:06:27 10.80 750,000
03-Feb-22 15:44:29 10.925 100,000

Managing Director and CEO, Joel Riddle, said:

"We are encouraged by the initial flow rates, which support and validate Tamboran's Mid-Velkerri shale model. The flow tests have proven that the hydrocarbon system is working as expected and, similar to the evolution of the best North American shales, the next steps are to optimise the results with larger and more effective fracture stimulation designs, with well design completion techniques expected to have a considerable impact on the ultimate recovery of these wells.

"The rocks are working as expected and the next steps are to optimise the results with larger and more effective fracture stimulation designs.