The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register 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