Member Info for walk-it-off

Thank you, Orson.
For me, your credibility is unimpeachable.

gnoles, ROCK, FOLGF is the symbol (and issue) of Falcon over-the-counter... it is OTCBB, and that's exactly what ROCK and others want to get away from. On the LSE, Falcon trades under the symbol FOG. On the TSX, it trades under FO. I have found that I can typically get a better price, and a more advantageous FOREX buying FOG:GB on the LSE. As gnoles said, it's simple to set up the Fidelity account. Start by putting in a few bucks, then one 5min phone call with a human to get access to international trading, and you're set. But I don't understand why you would do that and then buy OTCBB instead of an issue on a foreign exchange (i.e. LSE) and not get a better price and WAY more liquidity in the process. Just my personal view. Yes, the OTCBB for Falcon goes through Toronto, but why not deal with markets directly rather than dealing with market makers who's job it is to literally manipulate both the price and the volume of the stock bought and sold. I'm not a fan of market makers. Be well folks... here's to good news soon on the flow tests.

You folks in The Sates (I'm in VA myself) who are going OTCBB will spin your wheels... I've been there.
The solution I came up with, and it's served me well, was to open a 2nd trading account with Fidelity (my other one is with TD), and set myself up with international trading (very easily done). Now I can trade on many exchanges in real time, and in either USD or their currency. Main reasons I did this was for buying FOG on the LSE and/or TSX, and to have access to the ASX. The lack of liquidity in the OTCBB can be maddening... and it's cost me some dollars. Just a thought.

"Engendering most debate in the draft report from the National COVID-19 Coordination Commission's manufacturing taskforce is the $4 a gigajoule price target for gas delivered to manufacturers on the east coast."

"The gas belongs to, and should be managed to the benefit of, all Australians."

Well, if that's the case, then why am I (why are we) the one(s) funding the exploration and development through a high-risk investment... why aren't all Australians compelled to invest?

Does the government wish a privatized/socialized hybrid wherein the private sector (us) takes the burden of capital risk, and the government and public gain the material and economic benefits and rewards? It sure sounds like it to me.

"I said there would be dilution and you don't think giving up an extra 7 1/2 % is not dilution ? Wow !"
The transfer of 7.5% of the asset, in return for additional, Origin-funded exploration, is not dilution.
Dilution involves the issuance of additional, previously non-existent, shares... typically as part of a CR.
POQ made a very intelligent deal here, IMO.

Hey there IT...
I doubt very much that such an arrangement would transpire at any time in the next couple of years (obviously, I could be wrong). We (the States) need every bl of reserve space remaining, and those talks you cited were as of last August- before the shtf. What the US needs to do (IMO) is not accept another single shipment of Saudi (or other) oil, and to store our shale as well as support the shale industry workers who will be out of jobs. The shale oil industry itself will survive with an attending halt of growth, takeovers and mergers, and some bankruptcies. But shale's not going away, and, ultimately, the Saudis and Russians will come to find that they have hurt themselves far more than they have hurt anyone else. This price war was very poorly thought-out, and likely was about pride and ego as much as economics, I suspect. Everybody please be well and stay safe... -walk.

Hey there Siben (et al.,), I haven't been checking the board as frequently these past few weeks... I've been completely slammed for time. It was I who had spoken of an account I opened some months back with Fidelity (you got it right Newtofo). They offer international trading, which has helped me considerably r.e. obviating the need to trade OTC and deal with market makers. It allows me to trade in real time on 30+ international exchanges. I will be happy to answer any questions (according to my abilities). You might want to go to the Fidelity Investments website and poke around in the international trading section for starters... well-presented information, and many good FAQs. Let me know if I can help or relay my personal experiences with the platform after you take a look. It's pretty cool. WW: hope the meeting with POQ is informative and a blast... I'm definitely a bit envious :). I hope this note finds you all well, -walk

Nerves: Haha... that is totally annoying, but I did understand 1st time around. It both made sense and makes sense. RE Chinese nationals trading: I just asked my colleague (Chinese national w/ US green card). He said that folks in China (average folks, anyway) only have access to stocks listed on the Chinese exchanges.

Hi Nerves... Point well-taken r.e Australian investors are the ones most exposed to the news. True story, and a sound reason for listing on the ASX. Perhaps I had a knee-jerk reaction. I certainly meant no disrespect when I made known my objection to an ASX listing, and I hope you did not take it as a personal assault... that was not my intention. I had not realized that your angle on the share purchase difficulty was in reference to potential Australian buyers and not yourself. I had been off the board for a couple of days, and only dug back a couple of pages. I likely missed some context by not going back further. At least in the US, the options provided by Fidelity regarding international trading offer a surprising degree of flexibility. But since it wasn't for your own trading purposes, I guess it doesn't matter much, and I won't bore folks with details. Was just trying to be helpful, and kinda screwed the pooch on that one :) Take care, -walk

Hey there Nerves... WW and I have gone back-and-forth about that biz of liquidity of shares a bit (we're both in the States). My recommendation would be to open a an account with Fidelity, and avail yourself of their international trading platform... at least go to their website and check it out and see what you think. Let me know if you have any questions after you look, and I can share with you whatever I can from my limited experience with it. I only started trading via that route fairly recently. As for Falcon getting listed on the ASX, I would vote a resounding NO (if it were put to a vote). I hold shares in 3 ASX-listed companies (exclusively listed on ASX). It can be a real pain at times. Some here note share price manipulation at times, and of course, that's part of the game we've signed-up for (unfortunately). As compared with whatever manipulation is perceived with Falcon shares on the 3 exchanges, the ASX has been brutal at times (for companies in which I hold). It seems far easier to engage in shenanigans on the ASX. All just my opinion, of course. -walk

Agreed on every point, WW. I have offered a similar view myself in the past, and you and I (and others) are on the same page in this regard. I'm in no hurry, and not put-off by a little wait in order to prove this up and maximize value. If it can be done w/ the 5 wells remaining in the JV agreement, then great. If it requires a cap raising for a few more wells after that, then fine. I trust the man. I'm in no rush to settle for less than maximal value that we can reasonably achieve. Regards to all... hang in there. This isn't a sprint, it's a marathon. But look ahead to what's waiting at the finish line for those with patience :) -walk

Thanks, Marsh. This makes me feel good: �Last week Jemena, the company building the Northern Gas Pipeline between Tennant Creek and Mt Isa, said it would begin work on a $4 billion expansion of the project as soon as next year if the moratorium is lifted, provided the restrictions put in place still allow gas reserves in the Beetaloo Basin to be developed quickly�. This makes me a bit nervous: �That could be a major hiccup though, as one of Justice Pepper�s recommendations is that exploration only be allowed to recommence once the regulations are in place.� I, as several others, figured that exploration would be allowed to proceed, while working-out the regulations and how to implement them, and that all regulations would need to be in place prior to production (which would not have impacted us, since we�ll be out prior to production). This makes me feel a bit better, as it entails �Option #2�: �Mr Gunner has consistently argued his Government would be guided by Justice Pepper�s report in deciding if fracking should be banned, or allowed under highly-regulated circumstances in tightly-prescribed areas.� I guess we�ll hear more in the next 12 hrs, or so. Fingers crossed that we�ll be able to go ahead w/ the drill bit next year w/ overly-encumbering regulation.

Hi WW... Sorry r.e. the slow reply, and sorry to everyone for interjecting this tax business back into the running conversation now that the topics have shifted. You're probably correct, WW, in that the sticky part is likely due to the shares being in a taxable Ltd. I wasn't quite connecting the dots until you spelled it out a bit more obviously. If you would be so generous, please do share what you come back with from your accountant? While this will not be an emergent topic for a couple/few years, I am seeking to learn as much as I can from other posters r.e. how they will handle the sale of their shares when the time comes. I'm not a principal of a company of any sort at present, but you never know what the future might hold, and I figure we can all learn something from each other on many fronts. I really appreciate this message board. Thanks, and best of luck to you and all posters. I hope everyone has a great weekend. -walk

Thanks, WW. Good information. Does that pop-up appear when you enter a trade OTC, or via the International Trading platform? I'm figuring it likely doesn't matter. All my Falcon shares were acquired OTC in my TD account, and I was never issued such a warning when entering a trade. Good on Fidelity for giving the warning. I also did not notice one when I bought that ASX-listed share via Fidelity International Trading, so perhaps one is on one's own under those circumstances. And yes, moving the Canadian shares to an IRA or 401k seems to be a smart play. I'll need to consider setting up a tax-deferred vehicle (I'm a late bloomer).

You could certainly do that, Coma. But my understanding is that if you wait for a special dividend to be paid by FOG instead, then you would also receive pro rata shares in NewCo. The Karoo might never get developed in my lifetime, or ever for that matter with the way things are heading now in SA (expropriation of white-owned land looming over the country), but I at least want those shares in case they could pay off for me or more likely an heir of mine, some day. Everyone will need to make their own decisions r.e. what's best for them. But such decisions are some way off, and this is a healthy discussion to have in advance. There is much to consider, and I know I can benefit from everyone's input and insight in the meanwhile.

Addendum to WW et al., Fidelity said they wouldn't transfer those shares b/c they were penny stocks/low MC... that was their rationale. I hadn't overtly stated that in my previous post. Only thing I can figure is that such a transfer would require some market action on their part? It's mystefying. I would think that the assets are simply electronically transferred. I'll try to suss it out. I want/ might need liquidity in those other shares much sooner than FOG shares will be matured. Toodaloo, and best regards, -walk

WW: "Also regarding sale - Will there be Canadian taxes to pay on the distribution. If so, would those of us in the US be better off selling at the market price prior to the official liquidation. I hold the majority of my shares in a tax free entity and would like to avoid taxes if possible. I realize I would miss the distribution of the new stock but that might be worth it if Canadian taxes are avoided" Hey there WW et al., I am answering WW directly (and anyone in the US), but it might help others as well. Canada will levy a 15% tax on the dividends if you sell via the Falcon Canada sale vehicle, rather than on the market yourself. However, the US and Canada have a tax treaty (most developed countries have them w/ ea other, but they vary widely). I've been looking into this off and on for a while. The US-Canada treaty is pretty good for folks such as me and yourself. If you pay the tax in Canada upon the sale, you can take a dollar-for-dollar credit against it on your US Federal taxes. It's not quite that simple, but that's the basics of it. Some of it is tax bracket dependent (for example neither of us HOPEFULLY will be in the 15% US bracket upon the sale), so we might have to pay-up an additional % to the IRS if our winnings bump us into a higher bracket. Great little nugget is that if you put the shares into an IRS or 401K, then Canada will not tax it at all (Canadian to US only, I believe). You'll only need to pay taxes to the Feds later. There's a link below. But i have one more thing to address for you first, WW. I went ahead and tried to transfer some ASX-listed penny speccy stocks that I have bought OTC w/ TD to Fidelity as I had mentioned previously as per my conversation with the Fidelity foreign trading desk. THESE WERE NOT FOGLF... they were much cheaper stocks ($0.02-$.0.065/share). Fidelity would not take them, despite one of the shares being in a company that I had just bought a 110Kshare lot of through Fidelity foreign investing on the ASX as I had mentioned. I will pursue this further with Fidelity, but I was less-than-pleased, to say the least. However, as FOGLF gains market value, as it surely will, then I'm pretty certain those shares would be transferable to Fidelity and have the OTC post-fix ticker BS dropped in plenty of time for our needs if we wanted/needed liquidity. None of this comes into play, obviously, for at least a couple of years, so there's time to sort it out. Please find that link I mentioned below. I hope this note finds everyone well. Take care y'all. -walk https://www.simplysafedividends.com/foreign-dividend-withholding-tax/

Newtofo: "...Origin's exploration dept. decided to overrule the big bosses and did the frack in August of 2016, when head office was thinking that they would wait until after the moratorium - as they didn't want to upset the newly elected Labor government." That's clearly the best thing that has happened in this story- at least since I've been hanging around. One of the gutsiest calls ever. I don't know if you're a baseball fan, but to me it was not unlike calling for a suicide squeeze when you're down by a run with two outs in the bottom of the 9th. High-risk/high-reward... and perfectly executed. Brilliant.

He's saying what he needs to say. He'll get on with it. He needed to give the reassurance to the opposition that he is giving the inquiry final report careful consideration. That is politically prudent. If he came out guns blazing, and lifted the moratorium within hours, then it would be completely transparent that he already had his mind made up... which I believe he does. Give it a few days, weeks, or perhaps even months... most likely a couple/few weeks... it will happen. He's not stupid, and he's not politically suicidal (that I know of). I know everyone's nerves and patience have taken a beating these past few months, but this WILL happen. Highly regulated, tightly prescribed areas = option #2... the Beetaloo = FOG. Hang in there.

Hey there Mirabeau, "especially from the usual goons ie greens (financed by renewable energy groups)..." I would add also financed by Russian petroleum interests in an effort to keep more shale plays (US and elsewhere) from coming online and presenting global competition to Russian O&G. Pretty ugly stuff, and difficult to combat. And WW: I think I remember seeing that as well, and that is likely part of the impetus by the other side to bring the decision to a referendum, rather than a governmental "decree" for lack of a better word.