Member Info for RichGreenwood

Mojo - curious if you have any stats to support stating "with Territorians, the vast majority of which oppose any new gas projects."

Also, "gas corporations" are not "greeding themselves out of business". High gas prices are just plain ole simple economics. If "gas corporations" were able to drive the prices high, then why did natural gas prices stay sub USD$3/MMbtu for so many years? There is plenty of competition and incentive for gas producers to sell gas at current prices. I do not subscribe to a conspiracy theory where gas producers around the world are working together to keep supplies low and prices up. There are simply to many companies from too many countries to make that work.

And if you think gas fired generation is expensive, you should look at the real costs of building and producing electricity from solar and wind, taking into account the governmental subsidies, environmental damage to mine the raw materials and to dispose of fatigued carbon fiber turbine blades and old solar panels (see article called a Tsunami of Waste from the Univ of Calgary), and the cost of redundant backup power when the wind isn't blowing or the sun isn't shining. For the 1/3rd of the world that has no energy other than wood, propane (which is entrained in rich gas) may be the only realistic hope for energy. Also, there are no alternatives to natural gas liquids for producing most of the material that everyone consumes.

For anyone with an open mind on the energy transition, I would highly recommend reading the ESG report (https://www.libertyenergy.com/betteringhumanlivesv2) and some of the articles from Chris Wright at Liberty Resources (for example, see https://www.naturalgasintel.com/liberty-energys-wright-sees-long-oil-natural-gas-future-as-energy-transition-is-not-happening). I am not a Liberty investor.

Plato-esque

WW - is that Amplify's project at Soldier Field?

I purchased Tambo on Schwab. I live in the U.S. If I remember correclty, it was a minimum $125 or $150 commission and came out to about $0.0013 per share.

https://investi.com.au/api/announcements/tbn/b3653e0a-d45.pdf
More of the same, but it does also state:
“Our focus continues to be on delivering the M1H well, which is on track to spud with the Ensign 970 rig in
early September 2022. The rig is capable of drilling the proposed 1,000-metre horizontal section within the
Mid-Velkerri ‘B Shale’ with an optimal 5-1/2-inch casing and allow for up to 20 fracture stimulated stages,
which is planned to take place in the first quarter of calendar year 2023. Importantly, the M1H well has
been designed using data from the T2H and T3H wells as well as simulations validated by leading US
independent subsurface consultants, Subsurface Dynamics, Inc.
“This well design is the first step in delivering a US-style shale well in the Beetaloo Sub-basin. The limitation
in delivering a modern US unconventional fracture stimulation and completion program remains the lack of
capable drilling rigs that can achieve more than 3,000-metre horizontal sections. Tamboran has been
seeking to resolve this and is close to finalising the process of importing a ‘best-in-class’ modern fast
walking US drilling rig into Australia.

2000 to 2500 pounds per lateral foot is customary. So, a 3 km or 9,000' lateral would use 18,000,000 - 22,000,000 pounds or 9 - 12 tons.

It will take a lot more facilities than a gathering pipeline to get the raw, unprocessed gas into any residue gas pipeline. There will need to be a gas processing plant, which depending on size and type of technology will cost a minimum of USD $50 to $150 million for a 50 to 200 MMcfd plant, and potentially higher given the remote location of the project. Jemena would be a logical party to construct and operate a gas plant along with its contemplated pipeline, but Jemena will require significant commitments before it constructs such facilities. Gas plants of this size will take over 12-18 months to construct, starting from the date they start ordering equipment.

Thanks Schlemiel. Good find!

Hopefully they are dialing in on an optimum frac fluid and design that results in higher rates. "We don’t yet know which of the 21 stages is giving us the strongest production rates, and therefore which fluid system will drive optimal production and cost performance in development scenarios"

Is there an active message board for Tambo? I believe there shares are only traded on an Australia exchange. BTW, if you have not looked at it, Tambo's June 2022 presentation has some good data. Thanks!

Good points.

Nice volume in London today.

Empire traded almost 5x its average volume today.

https://investi.com.au/api/announcements/tbn/c8af9e3c-e4d.pdf

This may be old news to y'all, but I read that Sheffield also owns 31,818,182 shares of Empire (4.19%).

I think it is fairly common for governments to spend on R&D. The US government spends about 2.5% of GDP on R&D.

Newt - IMHO, she has duties a CFO should be responsible for, but that does not give her the experience to add anything of value to a board. Look at the difference between her background and people like the other new board member.

Wet - good points. The need to spend the money wisely to try to crack the nut. There is obviously a lot of resource in place, but that does not mean you can just start drilling long lateral commercial wells.

Not sure what the reason was, but she does not seem to have the credentials to add any value to the board.

Not to say that a wagon wheel design off a wellpad has not been drilled somewhere, but I have only seen wells off of pads orient in the same direction based on the geologic stress of the shale in the area, which is designed to create more fracturing from the frac. We are starting to see more 3 mile (about 5 km) long laterals in the U.S. shales, but 2 mile laterals seems to still be the norm in most basins.

THanks to all posters for the good info. As with shale plays in the U.S., I think it is going to take a fair number of wells to find the sweet spots and to dial in well orientatoin (to take advantage of stress) and frac designs (stages, proppant, fluids etc.). This is science and it always takes time and capital to figure it out.

First year declines on shale wells are usually at least 60%. Flow rates pick up after the frac water is recovered, but start declining quickly after that.