Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
• 2.6 million standard cubic feet (mmscf) per day sustained initial flow rate achieved
over the first 91 hours of flow testing with minimal decline in gas flow rate over this
period
• Flow rate was achieved from 927m effective stimulated horizontal length indicating a
normalized rate of 2.8 mmscf per day per 1,000m of horizontal section
• 27.8% of injected fluids recovered while strong gas rates sustained without any
artificial lift required (e.g. no nitrogen injection) demonstrating strong reservoir drive
• These early results provide Empire management with materially enhanced confidence
that the project can be commercialized
• Flow testing is continuing. Data being collected and analysed by Empire’s technical
team will be incorporated into the completion design for the upcoming Carpentaria-3H.
Comments from Managing Director Alex Underwood:
“This is an outstanding result for Empire and our shareholders, and a historic moment in the
advancement of the Beetaloo Basin. To our knowledge, this is the highest sustained gas flow rate of any
well drilled in the Beetaloo Basin to date.
https://mcusercontent.com/6c7d255d97b3dec4176e2a477/files/89be1e6b-69eb-4e54-c5e5-9edfc114d424/11082022_C_2H_Flow_Testing_Update_Final.pdf
7 June 2022 - Falcon Oil & Gas Ltd. (TSXV: FO, AIM: FOG) announces that on 6 June 2022 it granted incentive stock options (“Options”) to purchase an aggregate of 16,250,000 common shares of Falcon to directors and officers under the stock option plan approved at Falcon’s annual shareholders meeting held on 12 November 2021.
Full details of the press release can be found on our main website homepage, under the Investor Centre section selecting Press Releases or clicking on the following link -> Granting of stock options
I'm in Falcon long term and believe it will payoff for the patient. Yes. Pullbacks are painful. I see today's dip as a buying opportunity. I'm in this company for .15 a share U.S. Have an order placed to buy a few more shares while the price is low. Think the sp will take off at some point this year, then it will be too late to top up. jmo. gla longterm holders.
Topped up yesterday. Added an additional 30k shares. I'm still a true believer, own over 600k shares of our bird. No plans to sell. That being said, Spudding of the Velkerri began August 12. Today marks exactly 8 weeks with no news. Isn't an update overdue? How long does it normally take to see results after work starts on site? Just curious from those who have more experience in the oil and gas industry ?? GLA
https://falconoilandgas.com/2021/08/12/spudding-of-the-velkerri-76-s2-1-well-beetaloo-sub-basin/
The elevated C3+ gas component of 14.42 mol%, confirmed the Lower Kyalla Shale as a liquids-rich gas play. Gas composition data also support the view that the Kyalla gas stream will have elevated LPG and condensate yields.
https://falconoilandgas.com/2021/10/07/kyalla-117-n2-1h-st2-update/
7 October 2021 - Falcon Oil & Gas Ltd. (TSXV: FO, AIM: FOG) notes that production testing has now been completed and the well shut in at Kyalla 117 N2-1H ST2 (“Kyalla 117”) in the Beetaloo Sub-Basin, Northern Territory, Australia with our joint venture partner, Origin Energy B2 Pty Ltd., a wholly owned subsidiary of Origin Energy Limited.
As noted in the Company’s press release on 20 July 2021, while Kyalla 117 flowed liquids-rich gas without assistance for intermittent periods, production was not sustained and there were indications of a potential downhole flow restriction.
On 14 September, coil tubing operations recommenced at Kyalla 117. No apparent restriction or blockage was identified in the production casing. Following a nitrogen lift, the well was able to flow unassisted at rates between 0 (i.e. rates too small to measure) and 1.5 MMcsfd for five days before loading up with water. Gas compositions data are not yet available but gas specific gravity data is similar to that measured during the previous phase of testing. Trace condensate was also observed.
Further analysis will be undertaken, including additional core analysis and well design considerations, to enable a conclusion to be reached on the results from operations at Kyalla 117, which will inform the future approach to further drilling and testing of the Kyalla play in the Beetaloo Sub-basin.
The purpose of the current exploration campaign was to collect data across the three primary plays within the permits: Velkerri dry gas, Velkerri liquids rich, and Kyalla liquids rich. Despite the challenges, the Kyalla remains a viable target within the Beetaloo. Kyalla 117 was the first horizontal well targeting the Kyalla and achieved its primary technical objective of demonstrating liquids rich gas flow potential of the Kyalla.
Recap on the gas composition
The initial analysis of natural gas by gas chromatography confirmed a liquids-rich gas stream low in CO2 as follows:
C1 = 65.03 mol%
C2 = 18.72 mol%
C3 = 8.37 mol%
iC4 = 1.29 mol%
nC4 = 2.03 mol%
C5+ = 2.73 mol%
CO2 = 0.91 mol%
N2 = 0.92 mol%
The elevated C3+ gas component of 14.42 mol%, confirmed the Lower Kyalla Shale as a liquids-rich gas play. Gas composition data also support the view that the Kyalla gas stream will have elevated LPG and condensate yields.
Philip O’Quigley (CEO of Falcon) commented:
“The information collected from this first horizontal well drilled in the Kyalla liquids-rich play, including the elevated liquids component, confirmed that the Kyalla remains an attractive target for further appraisal. Our immediate focus will now turn to the Velkerri play area where we are currently drilling a new exploration well in the potentially liquids-rich flank of the basin; an area of key interest for the Beetaloo Sub-basin. We look forward to updating the market as soon as the results from this well are available”
https://falconoilandgas.com/2021/10/07/kyalla-117-n2-1h-st2-update/
Hey Stebol,
When this bird was in the .06-07 price range, i was down over $50,000 U.S. on FOLGF/FOG in my portfolio. For me, that is STRESSFUL. Fortunately, today I'm much closer to break even and am in this for the long run. Not planning to another sell another share before we hit a minimum of $1 and then only maybe. As I hope there is a chance the price will go slightly higher. GLA
Darnitagain, Agree. Going to wait, watch and ride this out. I'm still under also. Started buying years ago at .33 and have averaged down, adding to my position when possible. I'm now in at .16 a share. Won't be adding. This bird has been too stressful. Hopefully big payoffs in our future if we get news as good on Kyalla and Velkerri. Fingers crossed. GLA especially
LTH
Finally good news!! I had almost given up. Started liquidating some of my position recently. Fortunately, still hold almost 600k shares. This recent news is not only a game changer for Falcon, but more good news to come could be a life changer for many of us who have accumulated shares through the years. Hope $1-$2 is in our future. GLA
I have to respect the fact that Empire Energy has done an excellent job of keeping their shareholders updated on the drilling progress in the NT. They have completed their General Meeting, once again, restated how positive the outlook is for Empire. It is disappointing as Falcon shareholders we receive few and far between updates in comparison to the transparency of Empire. There is mention of Origin on the graph page 16 in the Managing Director‘s General Meeting Presentation. If their graph is correct, not only are they far ahead of Origin in drilling but also appraisal. How can that be? Origin has been on the ground in the Beetaloo for years??? Sorry, Covid is not an excuse. Empire faces the same challenges but can still produce for their shareholders. I am so frustrated but have too much money invested to walk away. The wait is painful.
https://mcusercontent.com/6c7d255d97b3dec4176e2a477/files/558fb447-a76d-b515-eb69-b622a22a9a9a/03082021_Chairman_s_GM_Introduction_FINAL.pdf
https://mcusercontent.com/6c7d255d97b3dec4176e2a477/files/bf7c7f12-d35e-9002-b730-e63f83d247e6/03082021_Empire_Energy_GM_Presentation_Aug_Final.pdf
newtofo. you are absolutely correct, I see the definite difference when I compare the two. Thought the picture may have been from a different angle. I copied the link exactly from the site on Saturday. It has since changed.
Either-way, comparing dprussky's pic posted today and that from July 22, there is definite activity on the ground. Hopefully we have a small bit of hope. GLA
New photo taken July 27 https://api.soar.earth/short/1r0a10a971