The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Https://www.investi.com.au/api/announcements/tbn/4c2fa866-ca5.pdf
Highlights
• The Shenandoah South 1H (SS-1H) well in EP 117 achieved an average 60-day initial production (IP60) flow rate of 3.03 million cubic feet per day (MMcf/d) over the 1,644-foot, 10 stage stimulated length within the Mid Velkerri B Shale, normalized to 6.0 MMcf/d over 3,281-feet (1,000 metres).
• The SS-1H flow test indicates that future development wells with lateral lengths of 10,000 feet may be capable of delivering average rates of 18.4 MMcf/d over the first 60 days of production.
• Results continue to demonstrate that the 1 million acres below 8,850 feet (true vertical depth) in the Beetaloo West region is one of the most favorable places to anchor the initial development.
• The SS-1H well is planned to be flow tested until IP90, which is planned to be announced in late April 2024.
• Tamboran continues to undertake Front End Engineering and Design (FEED) studies on the proposed Shenandoah South Pilot Project. The Company expects to take Final Investment Decision (FID) in mid-2024, subject to funding and key stakeholder approvals.
Https://www.investi.com.au/api/announcements/tbn/8895da9b-5be.pdf
Https://app.sharelinktechnologies.com/announcement/asx/6424cd58de59c6dd8c20478e05ab46c1
25 March 2024 - Falcon Oil & Gas Ltd. (TSXV: FO, AIM: FOG) announces that it has elected to reduce its working interest in the proposed Shenandoah South Pilot Project (“Pilot) from 22.5% to 5%. This optimises Falcon’s interest in the Beetaloo, since Falcon will only have to pay for 5% of the costs of the two wells to be drilled in 2024 as part of the Pilot but will still retain a 10% working interest in the enlarged area of circa 72,000 acres around the Pilot and a 22.5% working interest in the remaining 4.52 million acres.
Key Highlights
The election by Falcon to reduce its working interest to 5% will significantly reduce Falcon’s cost to participate in the Pilot.Falcon also retains the benefit of a further A$16.67m (US$11m) of gross carry that will be used to offset against the costs of the Pilot in 2024, thereby further reducing Falcon’s cost to participate.Falcon participated in the SS1-H well in 2023 at its 22.5% working interest which created a Drill Spacing Unit (“DSU”) of 20,480 acres.The two wells in the 2024 drilling program will create two new DSU’s totalling 51,200 acres in which Falcon will participate and retain a working interest at 5%.Falcon’s combined weighted average ownership and future participation entitlement of this enlarged area of 72,000 acres post the Pilot will be 10%.Falcon retains its full 22.5% participation interest in the remaining 4.52 million acres in the Beetaloo, net 1 million acres to Falcon.
Philip O’Quigley, CEO of Falcon commented: “Falcon’s election to reduce its participating interest to 5% in the Pilot is a prudent use of our capital resources as it significantly reduces our cost exposure. Post a successful Pilot, Falcon will own a weighted average interest of 10% in the enlarged area of around 72,000 acres around the Pilot and will be able to participate in any future development of this area, whilst still retaining 22.5% interest in the remaining 4.52 million acres. This election by Falcon demonstrates our ability to optimise our interest in the Beetaloo for the benefit of shareholders.
Https://www.investi.com.au/api/announcements/tbn/6b35775d-f93.pdf
Outlook page 13.
Two drills q2/3
Https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02767251-2A1501934
No skin issue this time.
No flare visible. Maybe shut in for building up pressure?
https://apps.sentinel-hub.com/eo-browser/?zoom=14&lat=-16.84156&lng=133.65456&themeId=DEFAULT-THEME&visualizationUrl=https%3A%2F%2Fservices.sentinel-hub.com%2Fogc%2Fwms%2F42924c6c-257a-4d04-9b8e-36387513a99c&datasetId=S2L1C&fromTime=2023-12-29T00%3A00%3A00.000Z&toTime=2023-12-29T23%3A59%3A59.999Z&layerId=6-SWIR&demSource3D=%22MAPZEN%22
https://www.linkedin.com/pulse/basics-well-testing-oil-gas-production-marlee-rose
Maybe t2 and 3 can be used for comparison.
T2 and t3 well updates.
Gasflow to surface
30 dec 2021
https://www.investi.com.au/api/announcements/tbn/352a6a2c-1b8.pdf
1 February 2022
Ip 30
https://www.investi.com.au/api/announcements/tbn/6dee081b-899.pdf
Nice book to read the coming 30 days 😃: The frackers.
“Steve Banker of Forbes commented "This is a book that could have been deadly dull. But the writer, Gregory Zuckerman, an experienced business journalist, did a good job of mixing the technological developments, politics, and economics of this business with a mostly entertaining narrative of the entrepreneurs who built this business and made billions in the process."[7]
https://en.m.wikipedia.org/wiki/The_Frackers