Member Info for RichGreenwood

This is the most current info FOG has provided - https://falconoilandgas.com/company-presentations/#1541158622782-52acf8a2-2f7f

Thanks all for the info. I also like "• PLT test results suggest a normalised gas flow rate equivalent of between 5.2 - 5.8 MMscf/d per 1,000m of horizontal section significantly improving the prospectivity of the Velkerri dry gas play" on slide 12. It takes numerosu wells in any play to dial in the rihgt frac design. This is an impressive estimated flow rate (15,000 MMcfd+ per 3,000m) at this stage. I would expect that we will end up with flow rates similar to what we have seen in the Marcellus and Utica, which is what we need to bring more cpaital into this play.

NT, not NY

NY - agree with your analyses. The other real pricey facility for the rich gas will be a gas processing plant to remove the NGL so the gas will meet residue pipeline specs. A 200 MMcfd plant int he U.S. would cost between USD $75 MM to $125 deppending on the type of plant (e.g., refrigeration or cryo) and what type of NGL recoveries are desired. Of course, the NGL will be sold, which will obviusouly help on the revenue side of the equation.

I am new to this board. can anyone share any linkes to research reports on 88? thanks!

Apologize if this has been posted before. From the Nove 22, 2021 Research Report frmo Hannam & Partners on Tamboran's website:
An independent reserve report has confirmed that the first vertical well on EP 161 has proved up 117bcf of recoverable gas (2C resource) with an upside case (3C) of 265bcf (~45mmboe). The first vertical well that was drilled and tested implies that, when converted to a reasonably sized lateral well, there could be 15-20mmcf/d potential per well. Also, a recent well test on the nearby Amungee-NW1H well by Origin/Falcon suggested a flow rate of 5.5mmcf/d per 1,000m of lateral. Our scoping economics suggest that a flow rate of around half this amount would still be economic. In our base case we assume 4.5mmcf/d per 1,000m and 12.5bcf recovery per well (EUR), which gives an NPV10 of ~A$0.4/mcf. Also the Amungee NW-1 well only had half the thickness of MVelkerri ‘B’ compared to Tanumbirini 1.

It is very possible they sold it over a period of time and that none of the buyers purchased a reportable quantity of shares. I also received notice of this filing a couple of days ago:
657. 9013-1.1 Notice Filed by Lance Henry on behalf of Allen Vellone Wolf Helfrich & Factor (related document(s):[656] Application for Compensation). 9013 Objections due by 11/24/2021 for [656]. (filed: 11/03/2021)

I believe all they did was take estimated market cap and divided it by prospective resource. The prospective resource numbers came from a high in place resource number (I do not recall the source off the top of my head, but can look it up if anyone is interested) and applied a 15% to 20% recovery factor for each company's position.

Just ran across this update. Do any of the geo folks on here know the basis for which Tamboran claims that its position is the "core Beetaloo"? Thanks.
https://www.proactiveinvestors.com.au/companies/news/957261/tamboran-resources-hits-the-ground-running-with-busy-second-half-planned-following-asx-debut-957261.html

This is certainly dated, but provides some info:
21 October 2020 - Falcon Oil & Gas Ltd. (TSXV: FO, AIM: FOG) (“Falcon”) has been informed that the Bankruptcy Estate of Petrohunter Energy Corporation is the beneficial owner of 48,101,000 common shares of Falcon (“Shares”), representing 4.90% of Falcon’s issued and outstanding Shares. Sweetpea Petroleum Pty Ltd. is no longer a beneficial owner of Falcon Shares.

Individual or Entity Most Recent Transaction Date Shares Owned as of Transaction Date
BURLINGAME ASSET MANAGEMENT, L.L.C.
Decrease

Feb 12, 2018
48,772,302

CRAVEN (JOHN EDWARD)
Bought

Mar 28, 2013
2,857,143

ESTATE OF PETROHUNTER ENERGY CORPORATION
Holding

Oct 21, 2020
48,101,000

MATHYS (NICOLAS)
Holding

Oct 03, 2017
50,551,600

O QUIGLEY (PHILIP DECLAN)
Exercise of Option

Feb 20, 2017
7,513,696

SOLITER HOLDINGS CORPORATION
Annual Return

Oct 16, 2015
112,810,134

WEDGWOOD MANAGEMENT LTD.
Annual Return

Oct 16, 2015
38,000,000

*Insider roster data is derived solely from the last 24 months of Form 3 & Form 4 SEC filings.

I believe may be a need for oil and gas reserve replacement for years to come up. Here are links to two recent articles that discuss a lot of the issues with the energy transition.
https://financialpost.com/commodities/energy/oil-gas/peak-demand-more-like-a-supply-crisis-propelling-oil-to-us100
https://www.wsj.com/articles/bidens-not-so-clean-energy-transition-11620752282

Looks like this rig is moving out of the basin.

Buru Energy secures rig contract for major Canning Basin drilling campaign
Proactive Investors Australia
“On track to start fieldwork”. The Ensign 963 rig is currently in the Beetaloo Basin where it has most recently been drilling deep and complex wells for ...

Agree that was a good find Darnit. I emailed the SPE Young Professional's group and asked for a link or copy of any video. I will let you know if I receive anything. In the meantime, if any of you folks are members of the SPE, maybe you might have luck getting a copy of the video or presentation materials. Thanks.

New grants to unlock Beetaloo Basin potential
18 March 2021

Joint media release with Northern Territory Senator Dr Sam McMahon

Australia’s gas-fired recovery has taken another step forward with the launch of new grants to support further exploration of the Northern Territory’s Beetaloo Basin.

Minister for Resources, Water and Northern Australia Keith Pitt said $50 million in grants will be provided through the Beetaloo Cooperative Drilling Program.

“The program is expected to deliver approximately 10 additional exploration wells in the Beetaloo by 2022, and bring forward at least $150 million of private investment from companies.

“This Commonwealth grants program will support gas operators to speed up exploration and development of the Beetaloo Basin,” Minister Pitt said.

“These grants are a key component of our Government’s agenda to bring gas from this world class resource into the market by at least 2025.

“The Beetaloo Cooperative Drilling Program is part of the Beetaloo Strategic Basin Plan and the Government’s $224 million commitment to the Beetaloo,” Minister Pitt said.

Senator for the Northern Territory, Dr Sam McMahon, says it will be a major local economic driver.

“The Plan is expected to generate significant development in the Top End, creating up to 6,000 jobs over the next 20 years and helping Australia remain a world leader in gas,” Senator McMahon said.

“This investment by the Morrison-McCormack Government will provide new opportunities for thousands of Territorians and ensure the NT can emerge from the COVID-19 pandemic in a strong position.”

The Beetaloo Cooperative Drilling Program will provide grants of between $750,000 and $7.5 million, up to a total of $50 million, to gas companies to support exploration that occurs before 30 December 2022.

For more information on the Plan, visit the Unlocking the Beetaloo: The Beetaloo Strategic Basin Plan report on the Department of Industry, Science, Energy and Resources website.

Media contacts:

Minister Pitt's office 02 6277 7180

Senator McMahon's office 02 6277 3643

Thanks Newt. Given that vast number of coal plants that could be replaced with natural gas powered plants in Indiana and China, the Karoo presents a unique economic development opportunity with LNG for a country that sorely needs it. Let's hope their government can finally get it together and allow the exploration to move forward.

Does anyone have access to this article?
https://www.upstreamonline.com/exploration/shale-gas-can-be-a-potential-game-changer-for-south-africa-karoo-basin-well-offers-insight/2-1-976270

'Shale gas can be a potential game changer for South Africa': Karoo basin well offers insight
Results from deep research well will underpin controversial government plans to open up possible 205 trillion cubic foot shale gas play

Okay. And just one more question, if I may. This is on the Beetaloo. Just after some more color on your plans this year for drilling in the Beetaloo. So the flow rate that was announced of 400,000 to 600,000 standard cubic feet, it sounds akin to a decent coal seam gas well, but well below what you'd hoped for a shale well. And I guess similarly, the gas composition indicating 2.7% condensate sounds a little softer than you're hoping for. So how does that data influence your plans this year? -------------------------------------------------------------------------------- Unidentified Company Representative, [5] -------------------------------------------------------------------------------- Well, I mean what it does is that it encourages us that we actually quite like. We like to think the composition is really strong, actually, would be my first point. I mean check out the ethane number there. So it's quite -- it's quite ethane rich. Lots of LPG, if you multiply by the flow rate, total flow rate you'd be expecting from a field development, that it swamp any other LPG production volume in Australia. And then what I'd say is it informs our way forward just because we need to go back in now. Once we get back into the dry season, we'll go there with some different, I guess, equipment. And we'll flow test the well properly for about 60 days after we do a solid clean up activity. I mean the point is that the well was very much still in the cleanup phase. It was cycling. It was flowing unassisted and then loading up. And we need to get out of that phase unloaded and then let it flow properly unassisted for a period of time.
So we've got the well paid already to go. We've got the approvals. That's the Velkerri one on the flank. The plan would be, at this stage, to drill a vertical well there, and just confirm what we think is there is actually there. But we'll probably come out with that a bit later in the year exactly what the plans are for that -- for the Beetaloo development.

Here are the helpful quotes on the Beetaloo from the earnings transcript:
I'll touch further on the Beetaloo opportunity in the next slide, particularly as the progress regarding the Kyalla well. And you can see there that we have met our objective of getting goal of our liquids to rich gas opportunity through those Kyalla shales. The initial announcement, which is based on early data, is lodged -- we have to lodge that in accordance with the northern territory regulations. The initial results are encouraging, but we've got further work to do on that. But you can see there that one of the key things that we had to work through was just that we were confirming really that there are unassisted gas flow rates and it's liquids rich. And you can see the composition there through the various methane, ethane and the higher C categories there. But what we've also been contending with is a very large amount of water production that you can see as a ratio of 1,000 barrels to million scf. So that's what really we were working through. We will continue that cleanup phase, and we expect to commence the production test as we hit the dry season into the quarter 4. And then following extended production testing, we shift to the commerciality through well optimization and also high-grading those areas, identification of them. So there's work to be done there, good initial signs, more work to be done. And the next thing that you should be looking forward for us is really that extended production test, and we'll keep you informed.

I'll touch further on the Beetaloo opportunity in the next slide, particularly as the progress regarding the Kyalla well. And you can see there that we have met our objective of getting goal of our liquids to rich gas opportunity through those Kyalla shales. The initial announcement, which is based on early data, is lodged -- we have to lodge that in accordance with the northern territory regulations. The initial results are encouraging, but we've got further work to do on that. But you can see there that one of the key things that we had to work through was just that we were confirming really that there are unassisted gas flow rates and it's liquids rich. And you can see the composition there through the various methane, ethane and the higher C categories there. But what we've also been contending with is a very large amount of water production that you can see as a ratio of 1,000 barrels to million scf. So that's what really we were working through. We will continue that cleanup phase, and we expect to commence the production test as we hit the dry season into the quarter 4. And then following extended production testing, we shift to the commerciality through well optimization and also high-grading those areas, identification of them. So there's work to be done there, good initial signs, more work to be done. And the next thing that you should be looking forward for us is really that extended production test, and we'll keep you inf

Apologize if this was already posted. There is some additional Beetaloo info in the February earnings call transcript, which you can find from the following 2 links:

https://www.yahoo.com/entertainment/edited-transcript-org-ax-earnings-220000531.html
https://seekingalpha.com/article/4369834-origin-energy-limited-ogfgf-ceo-frank-calabria-on-q4-2020-results-earnings-call-transcript

https://www.afr.com/politics/federal/beetaloo-basin-on-59b-infrastructure-wish-list-20210225-p575os