Member Info for tnbird

@BCnatgas.......You are dead-on. POQ is so over worked and poorly compensated being sarcastic of course.....
Info sharing by the leadership is beyond sad. I suspect we will probably see a NR from Empire Energy informing their community of the status of our well layered within consistent news to their stock holders on their progress !!! So sad.........but we do have a promising investment......just poor leadership

FOLGF in United States 1,571,038 shares traded today....this morn so far.....high was $0.1498 US.....now $0.1204US. I suspect the news is moving things but the market in US hitting records overall as well

Guernica..........thanks for you're views.....agree, something is certainly out of whack

Oil......appreciate your thoughts and certainly hope you are correct..............

Personally, I believe this is a prudent investment but have grown increasingly concerned about management of the resource….by both Falcon and Origin (yes, the operator…..but truth remains….Origin is really a utility provider not an E&P company). I hope for us all that we see the value of what is in the ground returned to us, but I do now believe, more than ever in my 12 years, for this to be accomplished in a timely fashion it would be best if Inpex or another major player acquire the entire play from Falcon and Origin. At a minimum…….it is time for Falcon Oil and Gas, while a small entity, begin to be open and transparent to include the following:
• Layout detailed Plans for Development and Monetization In Detail with internal Timelines Revealed
• Disclose the Details of the most recent Origin Agreement/Deal
• Define and detail what is in play in REALITY in South Africa
• Define and detail what is in play, if anything, with Hungary (or, Just say Hungary is done)
• Openly justify the value of leadership compensation and define and disclose what daily work protocol is required to earn said compensation. Disclose the details of the Scope of Work within the employment plan for the highest compensated executives……we know who they are!!
I suspect my rant here will have little to know impact. Maybe POQ looks at our board and maybe he will man up…..I doubt it. As one poster wrote…….he does have a nice annuity……We have to ask, is there a way to hold that accountable?? Maybe he will see value in true retirement with his holdings sold. Hopefully, he will see the frustration and recognize that this is bigger than 8 people: 2 highly compensated for minimal work, 4 to five board members, and a couple of major holders. I’m in till the end, but it’s time this is managed with openness and honesty….to date…especially since the new ORG deal…. I just don’t believe that is the case any longer.

Over the years we long-term holders have heard various stories and within those stories the unachieved (by past and current leadership) commitment to be informative. Yes, we have faced multiple obstacles….misled in Hungary…politics of South Africa…..the Aussie moratorium on Fracking…..greenies etc….……and, most recently, COVID-19. But, none of these issues prohibit leadership from being informative and transparent. Falcon’s present CEO has on numerous occasions implied intent to be informative with constant failure to do so. Very recently when providing information (with literally months between providing any level of information) the post was so vague and ill written that it appeared demeaning to the status of the well to which it referenced. And, clearly had market value impact on daily stock trade values. In all honesty, we seem to get better information from other E&P firms regarding our resource than we do from Falcon itself. This leads one to have to ask the question…..is there a hidden agenda?? As a 12 year holder of this entity I personally have become concerned with that question….what is the real agenda?? Is the potential of this resource really being so poorly managed?? Are the moves being powered by the major stock owners with little to no regard for the retail guys who are in reality the majority owner(s) of this entity?? Is there intent to drag things out so the retail holders become frustrated and depart?? I do recognize the depth and challenges of the Beetaloo regulations and how the location (in the middle of nowhere and infrastructure) impact exploration as well as time protocol but organized planning and management should be handling these matters with methods that serve to overcome them not let those issues dictate outcomes. As one poster remarked….."they are preparing to mobilize" the tubing and nitrogen. One has to be concerned with language like… “preparing to” …..It would be more clear to say the tubing and nitrogen resources will be on site by December 15, 2020. If they have procured the resources they will in fact know a date of arrival and timeline of install of said resources and have the ability to project a specific timeline for clearing the salt (saline) water build up and perhaps reveal some gas shows. The vagueness in this case is absolutely unnecessary and one has to ask for what purpose?? Why can’t they just be clear and specific?? Now and For the future, Yes, the wet season can be an issue but they also have the power as do we to study weather patterns and forecasts thereto. While the most recent sell down of another 7.5% was probably financially prudent the fact remains, we as holders of this stock have seen no public disclosure of the details especially as it pertains to control and details and specifics of what has to take place to make the deal complete and whole. We deserve to know these details as these details can help us remain confident or choose other options. (Continued)

Oh The irony. Be nice if our leadership was as detailed for us. On 25 November 2020, Origin Energy provided an operations update for its Kyalla-117 well which has been targeting the Kyalla Shale, a unit overlying Empire’s Velkerri Shale in the Beetaloo sequence. Origin General Manager for Beetaloo and Growth Assets, Tracey Boyes said “Our plan is to introduce nitrogen to lift the fluids in the well and lower pressures to assist with achieving a gas breakthrough, which is a common technique we carried out on the successful Amungee well in 2016.” Origin’s joint venture partner, Falcon Oil & Gas, has confirmed that nitrogen lift will commence this year. Origin also stated that it intends to drill, hydraulically stimulate and production test an additional horizontal well in the basin during 2021.

Much appreciated DP and Oil................very helpful.........have a great weekend all

TN

Due to work time restraints and signing in as time required I wasn't able to listen in. Would someone mind posting a general overview of what was discussed/presented in yesterday's AGM event?? I.e. was the Origin plan for Farm Down discussed??Thanks.....TnBird

Nerves.....I wasn't able to get on the call today because of time logistics .....was there any discussion on Farm Down plans??

Yes Poods....so sorry to hear about your wife....prayers be with you

Green.......that is a great question. I don't think any of us as small retail holders have been made aware of the details of the last deal?? Prob a great question for December 10

Gonoles..........True that......but we have to be made aware of an offer first. Havy brings up a fair point. It will be incumbent upon the board to know of and publicly share any deal. I suppose we have to "trust" if one is presented we are made aware of it

Havy

Interesting perspective. Doubtful that it can. Our hope is he looks at his shares in hand and sees retirement possibilities and/or he sees the future of Origin's stake and he holds 50% to 75% of the deal, if a stock transaction, in had and rides that higher. Or......he goes to work for Origin. The other part of the pie......really a questionable slice......does whomever, Origin or another entity, acquire all of Falcon or just Falcon Oil and Gas Limited Australia. Some say all......but there are multiple ways around repatriation of money

Origin789

I hear ya......lets get this nightmare over with....would like at least a US $ but good with anything $0.50 and up at this juncture ....I've been here since 2008.....adding here and there over the years......love to release my capital for other uses in life

Long
I'm with you......I hope that Inpex or another major is going to take things over either a majority stake or all of it. But, the farm down language by Origin would imply they are going to piece it out and I think that would be challenging with a 22.5% holder in the shadows.

Roger that....your welcome

Havy
while pure speculation ....I admit.......but given language from Origin on farm down plans and FOG's historical pledge to monetize vs be in the play long-term.....and given what we know on the other well's contingent potential return we should be sitting around $0.85/per share using market standard valuations (PV-10). So....if a deal is a stock buyout vs a cash/stock buyout it would make sense that some level of valuation be applied to the unknowns that FOG would be relinquishing in what would be considered an "early sale" i.e. monetizing prior to full proving of resources/reserves. So while probably high .......one US$/share could be realistic. But again....speculation. The plus in a stock transaction would be that the we would all still have the choice of holding Origin shares long-term or selling them and cashing out. POQ and others would have the same right to ride out long-term or cash out now. As to December 10.......If a deal has been struck I would not be surprised if this years AGM would include the announcement of such. We would all have to vote on it near term. It would take some time to jump through all the hurdles once approved if the majority approved and I think we would given the long-term history of this ride........for me.......many, many years.........But......I'm in for the ride but also believe, primarily based on Origin's recent announcement of Farm Down plans, a deal may be close at hand.....

One additional note........only those registered will be able to ask questions...............

dp..........December 10 at 4PM Dublin time Per the circular invitation to shareholders......pre-Register by December 7 using the following link
http://services.choruscall.ca/DiamondPassRegistration/register?confirmationNumber=10011471&linkSecurityString=9df26fbe5

call in number for not registered is..........US and Canada....... 1-800-319-4610
...................................................................UK............................ 0808-101-2791
...................................................................Dublin Local.............. 353-1-526-9448
...................................................................Other International.. 1-604-638-5340

hand typed so hope it is correct.