The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Looks like specific dates did not make the final version, so I might have misspoke. The final version defines the wet season as “the months of October to April.” But I don’t see anything that states operations can not take place during the wet season, there is just additional regulations to be followed during those months. I need to dive more deeply into the final version, just haven’t had a chance.
I do fully agree that there will need to be periods of evaluation before moving forward on additional works.
For what it’s worth, the new code of practice defines the end of the wet season as March 1st, so technically there is a large window of time to get all remaining wells done next year if it comes to that.
Welcome! It's pretty simple to set up an account and start trading. Just look for a brokerage house that serves your needs and has low fees. (Actually making money on the other hand..... :)
If I may ask, why the sudden enthusiasm to invest in FOG? Any word on the ground in OZ you care to share with the board?
This video may be newly uploaded, but it’s a video recap from this article from 3 weeks ago:
https://www.google.com/amp/amp.abc.net.au/article/11204340
Interesting fact: I was looking through LTG’s financials and they claim 13 full time employees. 13 people that know what’s best for Australia. 13 people that make all this noise thanks to social media. Isn’t that crazy?
Origin was granted their water extraction license today. Small but needed step in the right direction.
Listed under the Katherine region:
http://www.ntlis.nt.gov.au/walaps-portal/report/current/gwel
Well, we know that the no-go zones have to be finalized. So hopefully that gets done in the next week or so.
Also, according the new petroleum regulations, the Environment Minister must make a decision on an EMP within 90 days of it being accepting, so Santos' EMP should be approved (or denied) within the next 2-3 weeks.
That's kind of what I see as the next pieces of positive news that have some known deadlines. Maybe there will be a surprise piece of positive news along the way to get us to the EMP approval. I am 100% sure the hit pieces will keep coming from the anti-fracking brigade.
While all of these are listed as phase 3 requirements, there are some recommendations that address land access agreements.
14.6: That a statutory land access agreement be required by legislation.
That prior to undertaking any onshore shale gas activity on a Pastoral Lease (including but not limited to any exploration or production activity), a land access agreement must be negotiated and signed by the Pastoral Lessee and the gas company
Target completion date: Stage 3. To be completed by end of 2019.
14.7: That in addition to any terms negotiated between the pastoralist and the gas company, the statutory land access agreement must contain the above standard minimum protections for pastoralists.
Target completion date: Stage 3. To be completed by end of 2019.
Now, if you remember, the inquiry did not grant pastoralists the right of veto. And the point of these recommendations is that there must be a signed agreement in place. But there are process in place to ensure a resolution is reached. Namely, if the operator and pastoralist cannot reach an agreement on their own, they go to the arbitration panel, who then determines the rights of access for the operator. The pastoralist can appeal the arbitration board’s decisions to the courts, but the appeal does not stop the operator from proceeding at that point.
From the articles that have come out related to the Blundy case, it has already been stated that Origin and Blundy have gone through the Arbitration Board. So, it appears this is why he has now taken his case to the courts. It seems to be a pretty weak case. And, it is really only a determination of terms of access and compensation. All this leads to why the NTCA is now pushing so hard for the above recommendations to be implemented ASAP.
This is what all I have gathered at this point. I don’t see any reason why Origin couldn’t proceed with the Kyalla well this year, and if they have time, a second well. It just might not be on the Amungee station. The good thing is Origin has already cleared a number of sites with TO’s and other station owners for other test sites as evidenced in the EMP.
For what it's worth, these are direct statements from Origin in their EMP:
-During engagement to date, Origin has shared information and data in relation to the four existing wells as well as Origins
plan to complete an additional five wells in order to comply with the work programme commitment to the Northern
Territory government.
-All activities to date have had the written consent of the pastoral leaseholders who, as with Origin, do not hold exclusive
rights of over shared land.
-Land Access Agreements (LAAs) with the host Pastoralists for the activities contained in this EMP has been obtained for the 2019 work programme.
-Origin has not received objections from leaseholders or Native Title claimants in the area of the planned exploration
activity.
The excitement builds...
Also, some more reasoning on the coup of Dr. Close:
“Working on a hunch that the true extent of the Beetaloo had yet to be defined, Santos commissioned a survey of the basement topography and discovered an even thicker sediment pile had been overlooked to the east of … what had previously been regarded as the core of the Beetaloo.”
Agreed, and may partially explain why the emp for the second well has not been filed yet. Although, I think it still has more to do with the fact of just getting the first one through.
Can confirm the kyalla test site is actually on Shenandoah East station. OT Downs and Mungabroom are non-issues, as they are outside our permits but obviously Amungee Mungee would be relevant as the second well planned this year on EP76 is currently planned on it. But the alternate location is located on Beetaloo station. Or they could just move south slightly on the preferred location and be on Beetaloo station. But this all doesn’t make much sense since we’ve already tested a well on Amungee mungee.
He really doesn’t even have a case for filing a suit against origin as origin doesn’t even have approval to do anything on his lease at this point. In what way has he been damaged or aggrieved?
I’ve worked for over a decade in project management in oil & gas, and this issue over surface rights versus mineral rights is an ongoing battle even though precedent has been set that the mineral estate is dominant over the surface estate. Otherwise, surface owners would just exploit the developers. And as Wet stated, it always comes down to money, and for some reason, the bigger the bank account the surface owner has, the bigger payout they think they are entitled to.
And how about Ashley Manicaros? What a two-faced schmuck.
I’m pretty sure the stations are listed on some of the exhibits in the EMP. And I am also pretty sure the Kyalla test well is on Beetaloo station.
It boggles the mind that some TO's fight so hard for control of their land, and then try so hard telling other TO's what they can and can't do with their land.
Also a key line:
"We work with the Northern Land Council to ensure we talk with the Traditional Owners who are the Native Title holders and who can make decisions and speak for the country within our exploration permit area. We’ve recently met with the Native Title holders for where we’ll resume work later this year to review our plans again with them in detail and talk about the protections and controls in place to protect groundwater and the environment."
Agreed. Just want to clarify the public comment period for the no-go zones ends tomorrow, the 21st.
or maybe they will make the no-go zones more comprehensive after the comment period ends next Friday, showing that they are listening to the concerns of Territorians??? What I think they'll do at least.
While it seems, and it has, been excruciating slow going the last few weeks, I think the NTG has played it pretty well. I am still confident we (and Santos) will be drilling before the end of July. I also think once we get going, everything will start moving at a much faster clip.
Just FYI - The Hess warrants were transferred to Nicolas Mathys a while back. The terms of the warrant remained unchanged, with an exercise price of CDN$0.19 per share and an expiry date of 13 January 2020.
I hear you, but unfortunately don't think it is the bankruptcy shares hitting the market as the Judge just heard Bruner's objections to the transfer of the FOG stock to the Trustee this morning. I also think FOG would have to make an announcement once the Trustee took control of the stock as it is about 6% of the O/S shares.
05/23/2019 Minutes of Proceedings. The Court took the matter under advisement. (related document(s)[332] Motion, [360] Objection).
05/10/2019 ORDER APPROVING STIPULATION REGARDING TRUSTEES MOTION FOR ORDER APPROVING RELEASE AND DELIVERY OF FALCON STOCK CERTIFICATE TO TRUSTEES CUSTODY (related document(s)[332] Motion, [360] Objection). Hearing to be held on 5/23/2019 at 10:00 AM Courtroom D for [332] and for [360], .