Member Info for OrsonModesto

"The common shares were issued pursuant to the exercise of options"

A significant amount of those 35 recommendations (phase 2) required legislative changes to the Water Act. Those changes to the Water Act were approved yesterday and the bill passed to be proposed as law. So a lot of those circles should be filled up on the next progress report.

I agree there were some things that didn't seem to add up, but then again there are a lot of the processes being implemented that we are not privy to at this time. As an example, I couldn't find anywhere in the recommendations where it stated the bore monitoring had to be at least 6 months. But, according to the progress report that the implementation team has been sending out, there may be some more details to this process. Wet's answer make as much sense to what I can make out at this time. As far as my own assumptions, I believe the NT is going to release the bare minimum to the public at this time to keep the naysayers at bay while all the other recommendations are being implemented.

FYI - I recommend following the NT Implementation teams website. They provide updates fairly regularly, plus the progress report I mentioned. The most recent one was released at the end of September.

Website:
https://hydraulicfracturing.nt.gov.au/

Latest progress report:
https://hydraulicfracturing.nt.gov.au/__data/assets/pdf_file/0007/545344/actions-by-recommendation.pdf

It's worth the time to take a look at the EMP Origin filed for the test bores. It is actually a compressive EMP that appears basically ready to go covering all aspects of the 18 and 19 drilling campaigns with only minor tweaks needed depending on how the regs are finalized. There are also plenty of details on the locations of all the wells they are looking at drilling. They even name the wells velkerri or kyalla. You can easily juxtapose the exhibits in the EMP with the Falcon presentation to see where and which targets they are aiming for.

The Environment Management Plans for the groundwater monitoring bores are available on the Department of Primary Industry and Resources website at www.dpir.nt.gov.au/mining-and-energy/public-environmental-reports/reports-for-petroleum-operational-activities

Also the legislative assembly in currently in session, and they are approving a large number of the legislative changes that need to be made to the water act, environmental protection act, etc. to comply with the recommendations of the inquiry.

I know it seems like it is just dragging on, but this is the hand we have been dealt, and at this time, everything is moving according to schedule.

Exactly how they addressed it in the article:

Origin 'respects Land Council processes'

Origin Energy said it held community consultations convened by the Northern Land Council across its EP98, EP117 and EP76 permit areas in 2014, 2105 and 2016.

It said it provided its proposed work programs a year in advance to the Land Council.

"We respect the processes carried out by the Northern Land Council," the company's spokesman said.

"The NLC determines which traditional owners attend meetings, and that there are appropriate decision-makers for the different traditional owner groups at those meetings, relating to the area where we are proposing to work.

The company said it gained documented permission from traditional owners for exploration fracking at the Amungee well in the Beetaloo in 2015, and it plans to drill a further three wells in 2019.

Interesting that even NLC head Joe Morrison states:

He accused lobby groups concerned about fracking for turning people against it.

"Knowing that there are external players who have got preconceived ideas about whether hydraulic fracturing should go ahead or not, unfortunately using Aboriginal people to push their positions, I think that's part of the challenge here," he said.

Also, interesting that these TO's are all from Nutwood Downs. As we all know what nutjob owns Nutwood Downs.

This resolution will not pass.

WW basically nailed my sentiments. Let's remember that Origin only has a right to a 70% interest in the Beetaloo concessions only by completing the terms of the farm-in, i.e. drilling the wells agreed to. They can't sell something that they have not earned. As was mentioned, if Origin fails to meet the terms of the farm-in, the concessions revert back solely to Falcon a la Hess. So if Origin is considering getting out of the farm-in, I think Falcon has a tremendous amount of leverage here. Santos is a logical choice, should they agree to carry out the terms of the farm-in. Once again, If Santos wants to revise the terms of the farm-in, surely Falcon will leverage this to their advantage, more money in the bank for starters.

Former Falcon Country Manager of Australia John Carroll exercised 600,000 options at .24. Dumps a little money in the treasury. Looking back at this option grant from 2013 there are still about 9,000,000 options that expired back at the end the April that I guess could have also been exercised yet not filed of record. Of course, some of these may be in line to receive new grants in the near to medium future.

Directors/Execs receiving options grant from 2013, which expired 4/29/2018:
Eoin Grindley 3,000,000
John Craven 2,000,000
Igor Akhmerov 2,500,000
Daryl Gilbert 200,000
Gregory Smith 200,000
Joachim Conrad 300,000
David Harris 300,000

Also, the Corporate Presentation was updated today:
http://www.falconoilandgas.com/uploads/pdf/Corporate_presentation_September_2018.pdf

That is a good clarification Nano. Looking back at my post I realize that was a completely simplistic answer to an overly comprehensive question that I didn’t put the time or energy into answering fully. I’m aware reservoir engineers, geologists, etc. are constantly seeking answers to the subsurface world, and never feel they have it all figured out. With that said, does Dr. Close have a lot confidence that all the ingredients are there for the Beetaloo to be a world class asset? That is a question I can positively answer. Will it become a world class asset? That is yet to be determined.

Hey Newty, there’s nothing he’s said that isn’t public. But, from his geologist’s perspective, he is very excited about the potential of the Beetaloo. From the sounds of it, he and his team have been studying the Beetaloo ad nauseam for the last 18+ months, and feel it’s only a matter of continued testing of the play to confirm their thesis.

With that said, I think part of his leaving Origin had to do somewhat with new challenges presented by the move, and the fact he has the Beetaloo pretty well figured out as far as origins permits are concerned.

As I’ve said before, we just need the bit to hit the dirt. Nothing else matters at this point.

I’ve had a fair amount of correspondence with Dr. Close over the last year or so. I reached out to him towards the end of the inquiry, and he has always been very receptive to questions I’ve had, and equally interested in what we have going on with the shale plays here in the states. He is about as genuine as a person as one will find. I asked him about his new gig recently, and it sounds like Santos made him an offer too good to turn down. I think Santos realized they are a bit behind, technically speaking, on the Beetaloo, and went out and got the one guy that knows the most about it.

He quoted “After 6.5 great years at Origin I'm moving on to a new role at Santos. I'll miss a great team and great people at Origin, but I'm excited to have a chance to be part of the Santos exploration and new ventures team and continuing the search onshore Australia. I'm particularly excited to get the chance to keep exploring the Beetaloo Sub-basin in the NT - an amazing place with equally amazing people and stories, and hopefully a future buoyed by responsible upstream developments.“

Hey Newt, no worries. Haven’t been sleuthing quite as much these days or on this board all that much to be honest, just waiting patiently. BUT I did just notice the implementation plan was just released by Gunner, http://newsroom.nt.gov.au/mediaRelease/26873

Thanks to Wet, we know that POQ is currently making the rounds and meeting with institutional investors. I am sure, at least I am going to assume, those same investors will advise POQ on what would need to be done to get them to invest in our bird. Hopefully, POQ takes that advisement to heart, and proceeds accordingly. But to Wet's point, I think the real action won't truly start until the drill bit hits the dirt.

Release of operational plans moving forward Possible SA exploration permit granted Finalization of NT regulations Take-out offer But probably nothing more important than: Drill bit hitting the dirt

(And as a courtesy, links are reviewed by the admins until you reach a certain post count.)

I think I know what you are referring too, but go take a look at the location of the three wellbores they used to determine this estimate, and you will realize that this report is erroneous from the start. In fact, the report even states; "It is acknowledged that the drill cores we investigated fall outside of currently identified sweet spots and these areas should be targets for further scientific drilling projects."

I do not think they are the same case, but both were made on procedural grounds. The one in October was based on the fact the Mining Minister (Zwane) can not promulgate environment legislation according to the MPRDA. It may or may not have been in the process of being appealed, but after the Chamber of Mines whiplashed Zwane earlier this year in regards to the Mining Charter, I believe the DMR sent all the regs back through the NCOP and began the consultation process over, and through the correct channels. Thus the appeal became a moot point. I think this also had an impact on the case I posted that was dismissed a few days ago. Here is an article that I think best describes where we are today with the bills: https://www.miningreview.com/mantashe-sets-out-vision-dmr-doesnt-hold-back/ As I said before, it all sounds good, and it surely appears things are moving in the right direction again, but it is hard to not have a gut feeling that another wrench won't get thrown into this process at some point. But, I do think we now have the right guys in place to get this moving forward.

This is also an important development as these are the two main anti-fracking groups in SA: Court dismisses joined bid to set aside govt's proposed fracking regulations http://ewn.co.za/2018/05/16/court-dismisses-joined-bid-to-set-aside-govt-s-proposed-fracking-regulations -JOHANNESBURG - The High Court in Pretoria has dismissed a joint application by Afri Forum and action group Treasure the Karoo to set aside government's intended fracking regulations. The purpose of the new regulations is to prescribe standards and practices to ensure the safe exploration and production of petroleum. AfriForum and Treasure the Karoo maintain the regulations are unlawful on various grounds. AfriForum's Marcus Pawson says the two organisations are studying the judgement. "We are very disappointed in the judgment which said our application was dismissed. We are still reading the documentation and [we will] get legal advice. We would like to appeal the position," he said.

Well it all sounds good (once again), hope we see some true progress in SA. I do have a little more confidence now that Zuma and Zwane are out. As for the Dolerites: �Falcon Oil & Gas were ahead of Shell to get a shale gas exploration concession in the Karoo. They could take their pick of spots. They chose about 30 000 square kilometres in the only part of the Karoo without dolerite. Dolerite, the Karoo�s Fracking Game-Changer http://karoospace.co.za/dolerite-karoos-fracking-game-changer/

Based off the title of the presentation at next week's conference, I think we may get some pretty major insights into what else Origin knows. "Australia's premier shale basin: 5 plays 1,000,000,000 years in the making" One basin, five plays? Hmmm.....

No worries, hopefully they make the rounds at all the major conferences. Also, if you click on the program names, they expand to show the speakers. OrigIn’s is listed in the big picture basins session CONCURRENT SESSION 2: Big picture basins Australia's premier shale basin: 5 plays 1,000,000,000 years in the making A Cote, B Richards, C Altman, E Baruch and D Close (Origin Energy)