Member Info for schlemiel

Marsh - It's not modesty mate, it's a pre-emptive strike. :)

When is this fickin' stock gonna move upwards? It's doin' my head in ffs. If I read the word 'Beetaloo' again, I shall implode into a point of infinite nothingness

I wonder who's now holding Sweetpea's 6.5% FOG stock

I see this LTG idiot is still getting herself noticed by screaming bollox in the press about 'unleashing a carbon disaster' should Aus develop Beetaloo. Can't she see that her entire existence revolves around the exploitation of the earth's natural resources? This green zealots need to understand one simple truth, that the protection of our planet, whatever that may mean, is dependent on reducing the human footprint. Thomas Malthus was only half right

nice weekend all

that should say RE---TARD like me

Thanks WW

What's Bruner's game in all of this? He's currently involved or used to be involved with Petrohunter, Paltar and Sweetpea but Sweetpea issued proceedings against Paltar in Australia late last year. he's like a squid this Bruner fella...it's way too confusing for a ****** like me

'Under Section 363(f) of the Bankruptcy Code, a debtor or trustee can sell estate assets “free and clear of any interest” in such assets'

Is this now the end of this nonsense? Today's update states JUDGMENT (a curious form of spelling but we know it to be JUDGEMENT). I am no lawyer but that appears final

JUDGMENT

04/25/2019 368 JUDGMENT (related document(s)[367] Order on Motion to Sell Property Free and Clear of Liens Under Section 363(f)). (mcs)

04/25/2019 367 FINDINGS OF FACT AND CONCLUSIONS OF LAW(related document(s):[293] Motion to Sell Property Free and Clear of Liens Under Section 363(f)). (mcs)

Without access to the facts we can do nothing other than speculate.

Cheers WW. I thought something like this may be part of the value conundrum that exists here. If the only assets you have are listed stock and you need liquidity then no option exists other than to sell the bloody shares! At least we are cognisant of why the selling continues and it's unrelated to the company's fundamentals..

I wonder if FOG stock is being sold on the LSE platform to pay legal fees relating to the Petrohunter case?

04/24/2019 364 Order Granting Application For Compensation for Allen Vellone Wolf Helfrich & Factor, Fees awarded: $84301.25, Expenses awarded: $1823.22 (related document(s)[324] Application for Compensation). (mcs)

https://app.courtdrive.com/filings/cobke_452866-1-16-bk-20197-petrohunter-energy-corporation

Poods - I can sense it's all coming to a conclusion as per WW's discussions below. I added another 25k today

Yes, it's gaining strength. Tucked a few away last week. Offer's pretty thin on the book so any decent buying should see good gains

trade printed priced at 14.75p. I'd like to know who exactly is playing with the price or indeed offloading - Is it related to Petrohunter bankruptcy or some other corporate event?

A broker note issued by Davy is all well and good but it's meaningless in its influence. Davy is Dublin based and therefore limited in influence. We need a broker note from a London based broker or investment broker that truly understands how to draw attention to the value contained within FOG. Essentially, we need professional promotion at some point in the next 6 months

cheers newtofo - reassured..thasnks

thanks newtofo

I'd like to know why the price is so jittery and under continual pressure. Is there a placing in the wings I wonder?

In a note to clients, analysts at SPAngel commented: “Today's update, while representing a significant increase in the cost relative to the original option terms, is a reflection of the progress that has been made over the project in the intervening period and the significant derisking in the Beetaloo Basin's commercial potential.”

how Canavan will respond to Labour's pledge to fast-track Beetaloo with targeted funding for pipelines and infrastructure? Either way, we now know the main parties back the development of Beetaloo and that is massive

Falcon Oil & Gas extends deadline to acquire royalties over Beetaloo project
07:33 23 Apr 2019
Falcon will be able to make a decision over the royalty acquisition after the next phase of work, due to start in June.
oil well drilling
It has until August 2021 to exercise its option

Falcon Oil & Gas Ltd (LON:FOG, CVE:FO) told investors that it has extended its deal to acquire royalties over the Beetaloo basin assets.

The company, in a statement, detailed that it has secured two additional years to pick up additional royalties (overriding royalty interes – or ORRI) following a prior deal struck in 2013.

At that time the Falcon agreed to acquire the majority of the royalties – it bought a 5% royalty from TOG Group, which had held a total royalty of 8%, and the company had the option to buy another 2%.
READ: Falcon Oil & Gas eyes June start to new drill campaign

The first transaction came when Falcon completed its separate farm-out transaction with Origin Energy, while a decision over the additional 2% was delayed amid the Northern Territory’s fracking moratorium (began in 2014 and ended in 2018).

With a further two-year extension now agreed, the company has the ability to gain further insights from the shale project before executing a deal.

“Falcon had originally envisaged the call option decision would follow the completion of the Beetaloo work programme,” said Philip O’Quigley.

“In consideration of the delays to the work programme due to the moratorium on hydraulic fracture stimulation in the Northern Territory, this two-year Extension enables Falcon to further progress the Beetaloo work program, allowing Falcon make a more informed decision with the additional work completed while providing greater financial flexibility over the next couple of years.”

The new terms of the deal allow Falcon to exercise its 30% share of the call option (proportionate to its stake in the project since the Origin farm-out) up until 31 August 2021.

The transaction cost in the deal will now be US$7.5mln, increased from US$4.5mln, and, it is to pay a US$500,000 extension fee to TOG.
https://www.investegate.co.uk/falcon-oil---38--gas-ltd---fog-/gnw/falcon-oil---gas-ltd---extension-of-orri-call-option/20190423070000H8809/

''Labor would also aim to fin­ance pipelines connecting the Beetaloo basin with Darwin, 600km north, as well as the east coast''....

Beetaloo gas-oil destined for export to Asia and domestic use it seems...to satisfy both export and domestic markets you would need reserves amounting to tens of trillions of gas...and we have 30%!!!!!!!!!!!!!

This article should allow us a huge and deep sigh of relief that Labour, if elected, would back Beetaloo and its development....I did think they market may be concerned that a Fed Labour government would pander to the green fascists but thank god they're standing firm on Beetaloo...both of today's articles once again highlight the enormous potential at Beetaloo and it seems others also agree

With both all the Fed parties appreciating the significance of Beetaloo and embracing its development we can look forward to a degree of certainty regarding its development

Coalition’s ‘failed’ fund facing $5bn makeover

Bill Shorten would abolish the ­“failed” $5 billion Northern Australia Infrastructure Facility and establish a new fund aimed at unlocking Queensland gas reserves in a bid to bring down gas prices and transform Darwin into a manufacturing and export powerhouse.

If elected, the Opposition Leader would replace the NAIF with a new finance facility that would work with Infrastructure Australia to identify and support projects of national economic significance in Australia’s north.

The new facility would have the same $5bn funding allocation as the NAIF, but would be called the “Northern Australia Development Fund”.
Read Next

It would quarantine $1.5bn for the construction of pipelines connecting Queensland’s Galilee and Bowen basins with the east coast. Labor would also aim to fin­ance pipelines connecting the Beetaloo basin with Darwin, 600km north, as well as the east coast.

An extra $1bn from the new fund would be allocated to giving a leg-up to tourism projects in Northern Australia.

Opposition resources spokesman Jason Clare said the plan to create a new fund would “support Darwin as a manufacturing and gas export powerhouse as well as increasing supply to Queensland and the eastern seaboard to put downward pressure on prices for gas users”.

“Opening up the Beetaloo alone could provide enough gas to supply the domestic market for up to 400 years,” Mr Clare said. “The NAIF has been an abject failure.”

Mr Shorten has pledged to ­appoint indigenous Australians to the board of the new facility and would require all funded projects to produce plans showing how the economic benefits of the project could be shared with local indigenous communities. These plans will be released publicly.

The fund would sign a memorandum of understanding with ­Indigenous Business Australia, an organisation dedicated to improving the economic self-sufficiency of Aboriginal and Torres Strait ­Islander people. Other agreements would be signed with the Clean ­Energy Fin­ance Corporation and the Energy Security Modernisation Fund to avoid duplication, and improve co-operation.

Labor says the NAIF has failed, saying “not a single cent” had been spent in Queensland and only $15 million has been spent on infrastructure projects in Northern Australia over the past four years.

end

https://www.theaustralian.com.au/nation/politics/coalitions-failed-fund-facing-5bn-makeover/news-story/7c43f8567765bc4c7d09467e9207698e