Member Info for schlemiel

Status of Potential Acquisition

Greatland confirms that it is in advanced negotiations with Newmont in respect of the Potential Acquisition, which remain incomplete, and that existing cornerstone shareholder Wyloo is intending to provide material support for the Potential Acquisition. Greatland and Newmont have entered into a binding exclusivity agreement which provides for a period of exclusivity to finalise and enter into binding transaction documentation in respect of the Potential Acquisition.

The proposed terms of the Potential Acquisition remain confidential, however Greatland notes that the proposed consideration includes a mix of upfront cash, deferred payments and equity. Settlement of the Potential Acquisition is proposed to be conditional on completion by Newmont of ongoing remediation works in respect of the Telfer tailings storage facility.

If the Potential Acquisition is ultimately agreed, settlement would be subject to (among other conditions) Greatland shareholder approval as a reverse takeover for the purposes of the AIM Rules, on the basis that the Potential Acquisition is expected to exceed one or more of the financial metric class tests set out in Schedule Three of the AIM Rules. Greatland would also be required to publish an admission document for re-admission to AIM.

The Potential Acquisition remains subject to, among other matters, the agreement of binding documentation and corporate approvals. There is no certainty that the Potential Acquisition or any other transaction will proceed at all (or the terms of any such transaction if it does proceed).

RNS

What's in it for GGP? GGP will surely have to give up 'something' to secure their part of the funding package, the only asset they have is the 30% of the Havieron project. We await the funding structure which will determine how the market values GGP as an equity vehicle.

'I believe there will be a flow of corporate news from the group over the next few months that will certainly engender investor interest – in my view the shares are heading a lot higher. '

Https://ukinvestormagazine.co.uk/falcon-oil-gas-major-change-of-focus-will-drive-investors-interest-ahead-of-a-us-listing-broker-expecting-six-fold-increase-in-value/

Following the drilling of the SS2H well, Tamboran B2 will immediately move to the Shenandoah South 3H well off the same well pad location ahead of the stimulation program.

Both wells will be drilled by H&P super rigs and will include a horizontal section of some 3,000m and will target the Amungee Member B-shale at an estimated target depth of 3,020m.

Each well is expected to be drilled in 30 days.

Initial flow test results from each well are expected in Q1/25.

The wells will be stimulated with up to 60 stages utilising the Liberty Energy modern frac fleet currently being mobilised from the US to Australia.

The increased efficiency and performance of the Liberty fleet is expected to result in a material increase in the completed stages per day and optimised gas flows.

An additional four-well programme is planned for 2025, which will complete the drilling for the proposed Shenandoah South Pilot Project that will supply 40m cubic feet per day to the Northern Territory Government.

CEO Philip O’Quigley stated that:

“The spudding of the SS2H horizontal well, which is the first of the planned two horizontal wells to be drilled in 2024, is an exciting next step in the development of the Beetaloo Sub-basin.

Following on from the success of the Shenandoah South 1H well announced earlier this year, and using the same drilling company, H&P, together with the arrival of the Liberty frac fleet, capable of materially increasing the stimulation intensity, we are really excited about being able to demonstrate the deliverability of the Amungee Member B-shale over 3,000-metre horizonal sections.”

Analyst View

James McCormack at Cavendish Capital Markets currently has a 32p Price Objective on the group’s shares.

He notes that:

“Falcon and its JV partners have commenced operations at the Shenandoah South (SS) Pilot Project with the spudding of the SS-2H well, the first of two 3,000m horizontal wells to be drilled, fracked and flow tested as part of the current drilling campaign.

The drilling programme will benefit from significant US shale expertise through the utilisation of the H&P super-spec FlexRig Flex 3 rig and the Liberty Energy modern frac fleet. Initial flow test results are expected in Q1/25.

Four further 3,000m wells will be drilled and fracked before the end of 2025, as Falcon embarks on a work programme which will see a continuous stream of activity over the next 18 months.”

In My View

This £59m-capitalised company is debt-free and boasted some $11.5m of cash in the bank at the end of June this year.

Its change of emphasis is sure to gradually dawn upon UK private investors, enough to help to reinvigorate the share price.

It was up to 13.44p in February this year and is now dragging at around the 5.20p level.

I believe there will be a flow of corporate news from the group over the next few months that will certainly engender investor interest – in my view

Falcon Oil & Gas – Major Change Of Focus Will Drive Investor’s Interest Ahead Of A US Listing, Broker Expecting Six-Fold Increase In Value

Mark Watson-Mitchell - 05/09/2024

For every 250 shares held in Falcon Oil & Gas (LON:FOG) investors will shortly receive just 1 new share in the re-named Beetaloo Resources Corp.

This share consolidation move could prove to mark a turning point in the fortunes of this British Columbia, Canada-incorporated business, which is headquartered in Dublin, Ireland, while its technical team is based in Budapest, Hungary.

That international structure is stretched even further when it is realised that Beetaloo is situated in a Sub-basin in the Northern Territory of Australia.

The Business

Not only is the current FOG listed on AIM, but it has a Toronto Venture Exchange quote as well.

And in the early part of next year, the revitalised group will also be seeking a US stock exchange listing.

The tidying up of its share structure through the 250-for-1 consolidation is, obviously, a forerunner of the US quote process.

That new listing is expected to excite US investors into providing additional sources of capital in due course.

Falcon describes itself as an international oil and gas company, engaged in the exploration and development of unconventional oil and gas assets, with its current portfolio focused in Australia, South Africa and Hungary.

Its principal interests are located in two major under-explored basins in Australia and South Africa and further interests in Hungary, covering approximately 12.3m gross acres in total. 

Those interests are in countries with a high regional demand for energy and, for Australia and Hungary, are close to existing infrastructure allowing for rapid delivery of oil and gas to market.

Its corporate strategy is to: explore unconventional oil and gas basins; then following successful exploration, to continue with appraisal programmes determining commercialisation options; leading on to monetising its assets prior to production.

The Beetaloo Sub-basin

At the end of August, the group announced the commencement of the 2024 drilling programme with the spudding of the Shenandoah South 2H horizontal well in exploration permit 98 in the Beetaloo Sub-basin, Northern Territory, with Falcon Oil & Gas Australia Limited’s joint venture partner, Tamboran (B2) Pty Limited.

The SS1H flow test indicated that future development wells with lateral lengths of 10,000 feet may be capable of delivering average rates of 17.8MMcf/d over the first 90 days of production.

The SS1H well has demonstrated steady gas flows and decline profiles in line with some of the most prolific regions of the Marcellus Shale in the US.

According to Falcon, the two-well programme will be the largest single campaign in the Beetaloo Sub-basin to date.

cont......

I ignore this stuff. At this price SEE is a takeover target imho which is now probably the main reason why I continue to hold

Three

IA

It's gonna happen anyway fella whether we like it or not

I take two things from this news. One, POQ expects Beetaloo to be developed ie it is commercial. Two, FOG expect to be involved right up to first revenues. Yes, three, a capital raising is a fait accompli but you can't make an omelette without breaking a few heads or whatever the proverb is.

Falcon Announces Planned Share Consolidation and Name Change to pursue U.S. Listing

3 September 2024 - Falcon Oil & Gas Ltd. (TSXV: FO, AIM: FOG) is pleased to announce that it plans to change its corporate name to “Beetaloo Resources Corp.” (the “Name Change”) and to consolidate its share capital on the basis of up to two hundred and fifty (250) pre-consolidation common shares for each one (1) post-consolidation common share (the “Consolidation”). The Name Change and Consolidation are subject to shareholder approval being obtained at a special meeting of shareholders to be held on 29 October 2024 and all necessary regulatory approvals including the approval of TSX Venture Exchange and AIM.

The Company wishes to proceed with the Consolidation in order to pursue a listing on a U.S. stock exchange during H1 2025, which is expected to expand awareness of the Company among U.S. based investors and potentially provide the Company with additional sources of capital. In conjunction with the Consolidation, the Company plans to complete the Name Change in order to align the Company’s name with its strategic focus on appraisal and development activities in the Beetaloo Sub-basin, Northern Territory, Australia.

The Company currently has 1,109,141,512 issued and outstanding Common Shares. In the event that the Consolidation is completed, for example on a two hundred and fifty (250) to one (1) basis, the Company would have approximately 4,436,566 common shares outstanding following the Consolidation. In addition, the exercise price and number of common shares issuable upon the exercise of any convertible securities would be proportionally adjusted upon the implementation of the Consolidation. Subject to obtaining all necessary approvals, the Consolidation would occur at a time and exchange ratio to be determined by the Board of Directors of the Company.

Further details regarding the Consolidation and Name Change will be provided at a later date.

Nm

Beetaloo basin wells intended as producers for Shenandoah South pilot scheme

2 September 2024, 02:47

Tamboran Resources has started the drilling campaign for its Shenandoah South (SS) shale pilot project in Australia’s gas-rich Beetaloo basin.

The Shenandoah South 2 (SS-2H) well on EP 98 is being drilled off a new pad located approximately three miles north of the SS-1H well and within the Tamboran-operated SS pilot project area.

Following SS-2H well, Tamboran will drill back-to-back the SS-3H well off the same pad ahead of the fracture stimulation programme.

The SS-2H and SS-3H wells will be drilled with the Helmerich & Payne (H&P) super-spec FlexRig(R) Flex 3 rig and will target the Middle Velkerri B shale at a depth of approximately 9910 feet (3020 metres). Each well is expected to take 30 days.

Tamboran said both wells are designed to include a 10,000-foot (3000-metre) horizontal section and will each be stimulated with up to 60 stages utilising Liberty Energy’s modern frac fleet, which recently mobilised from the US to Australia.

The Liberty frac fleet is capable of materially increasing the stimulation intensity and completing more stages per day compared to the legacy stimulation fleets in Australia, according to the operator.

Initial flow test results from each well are expected in the first quarter of 2025. Once flow testing is complete, both wells will be suspended as future producers to supply Tamboran's proposed 40 million cubic feet per day SS pilot project.

Production from this shale gas pilot is expected to commence in the first half of 2026, subject to final stakeholder and regulatory approvals.

"With the new Liberty stimulation equipment being mobilised from the US to Australia, we are eager to demonstrate the deliver ability of the Mid Velkerri B Shale over the longer lateral sections with modern US completions equipment,” said Tamboran Resources chief executive, Joel Riddle.

"It is our strategic partnerships with our largest shareholders, H&P and Liberty, which have dedicated equipment in Tamboran's Beetaloo basin operations, that put us in a commanding position to derisking significant, long duration gas reserves in the Beetaloo basin."

Tamboran’s two-well programme will be the largest single campaign in the Beetaloo basin to date.

https://www.upstreamonline.com/shale/tamboran-steps-on-the-aussie-shale-gas/2-1-1701394?zephr_sso_ott=UrlHdW

Tamboran investor Helmerich & Payne is drilling the 2-mile laterals, while fellow investor Liberty Energy has a frac fleet en route to complete the wells,

Tamboran Resources reported.

Hart Energy Staff

Fri, 08/30/2024 - 01:04 PM

https://www.hartenergy.com/exclusives/australian-shale-wildcatter-tamboran-spuds-first-2-well-beetaloo-pad-210302

3:40 : The Beetaloo Basin: A Global Perspective. Martin Wilkes, Managing Director, RISC

3:55 : The critical role of gas pipelines in unlocking the potential of the Beetaloo Basin. Darren Rogers, Group Executive Energy Solutions, APA Group

Https://ntresourcesweek.com.au/wp-content/uploads/2024/08/Informa-NTRW-SEAAOC-P24R01.pdf

19 Sept 2024

David Close is also in attendance

3:40 - The Beetaloo Basin: A Global Perspective

Martin Wilkes, Managing Director, RISC

3:55 - Leading the large-scale development of the Beetaloo Basin

Scott Crabtree, VP Sustainability, Tamboran Resources Corporation

4:10 - Exploration update

Alexander Cote, Head of Australian Operations, Daly Waters Energy

4:25 - Moving the Beetaloo into Production

Alex Underwood, Managing Director, Empire Energy

https://ntresourcesweek.com.au/seaaoc/agenda/

Thank feck for that. Get it sorted out

Https://www.state.gov/minerals-security-partnership/