Member Info for WetWater

I don't know that I can add much to the Pink Sheet conversation on FOLGF. The OTC Pinks haven't been a big problem but sometimes a little frustrating trying to figure out the exact price the stock is trading - Being a penny stock I don't let a quarter or half cent here or there bother me. I don't think I am at any big disadvantage not using TSX but then maybe ignorance is bliss. This gets back to my discussion the other day regarding how these various markets stay in 'sync'. Its strange how the LSE can be down and the OTC can be up on any given day or vice-versa. I assume that if things get too out of whack between the exchanges there may be a market maker who can take advantage of the situation and bring order back to the exchanges? Once Falcon starts getting traction I suspect all this will be a mute point.

I, along with some other private investors are meeting with POQ in Houston in a couple of weeks. He will be on a NA tour to meet with some larger institutional investors - no I am not one of them!! So yes he is trying to get the word out about Falcon. I am hoping that means that the drilling schedule, site selection, etc. might be released prior to his tour. I am also curious what his thoughts will be regarding S.A.

Billboard: The Beetaloo is literally in the middle of nowhere. I suspect you never put up billboards 20 - 30 - 40 miles from the nearest pavement. I also suspect rig substructure and all that goes into a rig-up plus service trucks, frack trucks, sand tanks, etc would be a logistical nightmare in all the mud and muck. Origin said they would be busy this dry season building roads,pads, etc. getting ready for next years dry season. From what I recall the dry season runs from April to about September. I was hoping for at least the vertical test well to be drilled this dry season but I suspect all the new government regs killed that for this season. I think we are just in patience mode for the next 10 months or so.

Yep - maybe the NT News needs to look into who the mysterious $1 million dollar donor was to LTG. Inquiring minds want to know! I suspect until the communities begin to experience the economic benefits of jobs and infrastructure created by fracking along with lower energy cost things will remain a little rocky. The oil industry needs to give a little where and when it can to improve their current unearned perception. Of course some lost souls will never come around just as in the rest of the world. C'est la vie

OK - Lets see if they will back off their demand for a 20% royalty - that is where things came to a halt the last go around. If they want to attract $25 billion in investments to their energy industry they will need to be business friendly. South Africa Energy Minister Jeff Radebe plans to encourage investment in gas infrastructure as part of a strategy to attract $25 billion of investment to its energy sector, writes Iain Esau. On the agenda is a gas pipeline running from Mozambique�s Rovuma basin to South Africa and shale gas developments, if a resource base is established. These would supplement proposed investment in renewable energy and possible nuclear reactors although the electricity generation mix will be decided when the government of President Cyril Ramaphosa updates its Integrated Resource Plan (IRP) in August. Meetings will be held with Mozambique�s government this month to assess prospects for gas co-operation beyond imports that flow from the Pande and Temane gas fields to Secunda via an 865-kilometre pipeline. �The gas finds in the Rovuma basin provide an opportunity for that country, South Africa and the Southern African Development Community to benefit from such resources,� said Radebe. �We are firmly of the view that, together with our Mozambican counterpart, we need to develop an infrastructure programme, which will allow the gas to be beneficiated through projects such as a gas-to-liquids plant and other petrochemical facilities in Mozambique, as well as a pipeline from Rovuma to the south of Mozambique, which, in our view, would enable construction of gas-to-power projects in both countries.� Radebe will also work with Mineral Resources Minister Gwede Mantashe to accelerate exploration of South Africa�s unproven shale gas resources. This week, Mantashe said he aims to �fast-track the finalisation of exploration rights applications,� adding that a notice would be published soon inviting comments from persons who might be �materially and adversely affected� by the government�s decision on shale gas applications from Shell, Bundu and Falcon Oil & Gas. This move will provoke controversy among shale gas opponents in the semi-arid Karoo region but Radebe said there is �no doubt... we will be proceeding�. He said clarity on the government�s approach to gas come from master plans due to be finalised by the end of 2018 after consultation with oil, gas and energy stakeholders. Radebe also said a decision about the future of Central Energy Fund companies, including state-owned oil company PetroSA, is imminent.

I'm personally not holding my breath on Falcon's S.A.concession IMO the world business community has lost confidence the current government's land grab and recent radical actions. S.A. is beginning to see the error in their ways but I don't think its going to be that easy to undue the damage they have created. It will be interesting to see what Chevron's reaction will be to this recent reversal. I am thinking that POQ has a meeting scheduled in S.A.(?) Maybe Falcon can shed some light on what is transpiring. With Shell backing out of S.A. the optics don't look good.

From the Csiro reoort: Both the middle Kyalla and lower Kyalla SRR are considered valid exploration and appraisal targets given the petrophysical and geomechanical modelled properties. However, the lower Kyalla SRR, due to its lower variability in reservoir and geomechanical properties over the entire SRR interval is considered to have the greatest chance of success at Beetaloo W-1 and therefore is the preferred target for future appraisal work in the immediate area.

Newtofo: Thanks - You could be right on the 5 zones - guess we will know tomorrow. For what it is worth I was told that the drilling schedule would b released shortly after the presentation tomorrow. The problem comes in trying to define "shortly". I am thinking the next well will be the vertical test well somewhere around the area of the Beetaloo W-1 with a focus on the Kyalla. The next HFT will also be a Kyalla test in the vicinity of the new test well and the Beetaloo W-1.

Tomorrow�s presentation is the first time Origin will be out touting the Beetaloo since the moratorium is lifted. Hopefully they will be detailing lots of plans and give Falcon something to present in news releases. We are curious of what the 5th �play� might be � IMO it may just be the breakout of the Kyalla zone into the Upper and Lower Kyalla � if that is the case I would still be looking for Origin to give some details and clarity to what they anticipate for each zone which will be news in itself. Would love to get some hints as to what was in the box they gave the inquiry panel.

DP - My wife, kids, and grandkids thank you! Now we just need to keep the sp up going into the close. Hopefully next week will take care of itself if we get some positive news. Its about time someone woke this stock up from its slumber.

I'm no chemist but I don't think condensate a form of oil. In the old days I've been told people could fill up their gas tank with drip gas condensate and I'm also thinking some of the old poppin johnny's could run on the same. That wouldn't get you very far now days with today's modern high tech engines. I did some research today on the Kyalla but couldn't find what I was looking for - some of the Kyalla is an oil bearing formation but it may be east of the Beetaloo?? Maybe some oil bearing Kyalla is on the Beetaloo and that could be our 5th play - just my WAG.

Let's see - There is the Velkerri 'A', Velkerri 'B', Velkerri 'C', Kayalla and ??????? Might be some new releases buried in Origin's presentation. I'm hoping!

I am hopeful Origin's presentation will open the door for Falcon to put out a press release of their own. Looking for Origin to give more color to the Beetaloo at the APPEA - maybe talk about the potential they see in the Kyalla, Velkerri etc. I suspect somewhere in the presentation they will give a brief mention of their expected drilling program for the next 5 wells. Any information presented will be factual information so don't expect any hype - yet if this type of information is presented then Falcon will have something to talk about. POQ will be doing some road shows this year but other than that we are pretty much trying to sail in a calm sea. Yes - I am buying but we have an unrelenting seller at this point so the price is stuck in the muck - don't see any change near term without news.

Periwinkle: Before it is all said and done you might want to add 'and crack' to your watching the paint dry comment. Tried to get a AGM date out of Falcon today - a bit too early as nothing has been decided. Last year the meeting was on Sept 14th and that announcement came out on July 10th. I was planning to be in Dublin in September so hopefully I can coordinate my trip with the meeting - might be a tax deduction in there somewhere :-) I am also a bit disappointed that Origin is not at least drilling the final vertical test well this dry season. Must have something to do with the new regs or possibly just an economic decision to not mobilize a rig for just one well. Origin must not realize how badly I want some news!

Maybe someone can help me here. How do these international markets stay linked together? Is there some big arbitragers that play one against the other? I ask because I was told (verifying my suspensions) that there was a buyer(s) that bought 3,000,000 shares in the low to mid twenties with the anticipation of selling for a 50% - 100% gain after the moratorium was announced. When that didn't materialize that hot money has since been trying to get out of that position which has been what has been keeping pressure on the stock.price. I was further told that this position has been worked off. This may just be rank speculation on someone's part or it could be coming from a MM familiar with the stock. If this is based on fact and if it was on FOLGF, how would that effect the price of FOG and FO? I guess we will get a clue if this might be true if the stock price sees some upward momentum in the next week or two. Please don't throw rocks at the messenger! - I have no idea if there is any basis to this as I don't know where it supposedly came from. Really more interested in how the markets stay tied together which they seem to be.

So would it make you feel better if Falcon had a temp as a CFO? I don't know Anne's exact duties but I suspect staying abreast of the various exchanges and filing requirements of a public company might be a somewhat tough assignment for a temp. If you think 7 million shares and her pay-check are going to materially effect your investment in Falcon then I don't think you see the big picture. We see this type of stuff go on in all public companies - people take advantage of situations - if she is getting the job done then god bless her - I hope she makes a fortune along with us. As far as the annual meeting goes, Falcon just had one this last September - if you are wondering when they will have the next ANNUAL meeting I will give you just one guess! Hope to see you there - I'll pick up the bar tab - serious! Glad you are not running this show - that would be a scary thought. Do you not understand the constraints a non-operator in a joint venture operation is under - the Beetaloo is Origin's show to run - Falcon's spot is to follow Origin's lead. Once Origin comes out with information or test results, etc., Falcon is free to release that information as Falcon news releases. If you expect otherwise you will just continue to be disappointed. I've been here forever (or so it seems) just like you and though disappointed in the current price I am very excited about Falcon's current position and future - enough that I have taken advantage of these low prices and have been an active buyer for the last 7-10 days. If you pick up shares cheaper then good for you - I'll be buying along side you and I will continue to be happy about my position. You were wondering what could go wrong with this investment. I've been around the block enough to know that sometimes things come out of nowhere. The knowns in this project are all pretty positive in my opinion. I think the Feds have the assurance that the NT is going to play nice with their quarter billion reinstatement of GST. From press statements and knowing Origin's holdings, I am pretty confident that they are very serious about drilling the next 5 wells in the farmout package. I guess one could be concerned about drilling poor wells and Origin backing out of the farmout but with the test wells to date reflecting the rock structure and identical shale benches, seismic and the one HFT I suspect like other shale plays, wells will be pretty predictable. POQ felt there are better wells to be drilled than the Amungee 1-NH and likely poorer wells to be drilled but all in all he didn't feel Origin will ever drill a dry hole. I think time is our biggest issue right now that will take care of itself.

So would it make you feel better if Falcon had a temp as a CFO? I don't know Anne's exact duties but I suspect staying abreast of the various exchanges and filing requirements of a public company might be a somewhat tough assignment for a temp. If you think 7 million shares and her pay-check are going to materially effect your investment in Falcon then I don't think you see the big picture. We see this type of stuff go on in all public companies - people take advantage of situations - if she is getting the job done then god bless her - I hope she makes a fortune along with us. As far as the annual meeting goes, Falcon just had one this last September - if you are wondering when they will have the next ANNUAL meeting I will give you just one guess! Hope to see you there - I'll pick up the bar tab - serious! Glad you are not running this show - that would be a scary thought. Do you not understand the constraints a non-operator in a joint venture operation is under - the Beetaloo is Origin's show to run - Falcon's spot is to follow Origin's lead. Once Origin comes out with information or test results, etc., Falcon is free to release that information as Falcon news releases. If you expect otherwise you will just continue to be disappointed. I've been here forever (or so it seems) just like you and though disappointed in the current price I am very excited about Falcon's current position and future - enough that I have taken advantage of these low prices and have been an active buyer for the last 7-10 days. If you pick up shares cheaper then good for you - I'll be buying along side you and I will continue to be happy about my position. You were wondering what could go wrong with this investment. I've been around the block enough to know that sometimes things come out of nowhere. The knowns in this project are all pretty positive in my opinion. I think the Feds have the assurance that the NT is going to play nice with their quarter billion reinstatement of GST. From press statements and knowing Origin's holdings, I am pretty confident that they are very serious about drilling the next 5 wells in the farmout package. I guess one could be concerned about drilling poor wells and Origin backing out of the farmout but with the test wells to date reflecting the rock structure and identical shale benches, seismic and the one HFT I suspect like other shale plays, wells will be pretty predictable. POQ felt there are better wells to be drilled than the Amungee 1-NH and likely poorer wells to be drilled but all in all he didn't feel Origin will ever drill a dry hole. I think time is our biggest issue right now that will take care of itself.

BigOnes: IMO it is the 11 months we are looking at before drilling actually begins - then as you know it will probably be another 2 -3 months before we know any results though maybe a little quicker since the next well will be the final vertical test. Yesterday FOLGF was down about 5% on only 80K shares - I suspect a lot of people bought into Falcon looking for a quick 50% profit and when that didn't materialize the hot money is trying to work off those positions. Drilling cost are high but your Bud said that with gas currently going for $12 - $16 mcf, those cost are not an issue. I have only heard of one regulation that might be troubling - I recall it had to do with measured air quality emissions. There is a good case to be made that as the Beetaloo develops over time the use of coal will likely decrease. The Feds will be able to assist in that front if necessary to make that argument - of course the more gas that goes to Asia, the less coal emissions also. I live in the middle of the Permian Basin which is by far the busiest fracking place in the world and emissions are not a problem in this area. I think the emissions 'scare' is just a tool of the environmentalist against fracking - also no one in my backyard has been poisoned by the water either - what a bunch of malarkey! We just need some good news stir up the price. Origin's share price is starting to respond so Falcon will likely follow. I personally know that POQ is very frustrated over the price action since the moratorium. While some think he needs to beat the drum the timing is not right for that - many forget that Falcon is not the operating partner and its not their position to break news and come out in front of Origin to hype the Beetaloo - from what i understand they will be released to promote some drilling schedules, etc but that it will be after the Mid-May Beetaloo presentation. Falcon was very disappointed in the RBC report which did not help our share price - they feel that Ben Wilson was a mistake for what Falcon needed. Falcon wanted to get RBC in the fold and familiar with the company and the Beetaloo project but the target price and report was just far too conservative to be of benefit. On the bright side you can now afford that return ticket - please don't tell me you are still looking for a cheaper fare :-) I would have never thought we would even see the .20s here in the states - so take my opinions for what they are worth.

Eyedoc - My back of the napkin value per acre comes in at $60/acre. If I didn't have a boatload of Falcon I would be scooping it up about now. Hard to believe the stock is valued less with the moratorium lifted than when it was in place. I suspected the price would be weak with a year yet to run on the clock but didn't see the stock hanging around these levels. Curious to see what type of reaction we get with the upcoming Origin presentation. I would hope Origin would release their confidential Velkerri 'C' and Kyalla analysis but I suspect that will be held close until they actually test those zones. I'm ready for some low-ball offer to be made for Falcon - not for the board to consider but to get people talking about the potential value of the stock. Should we start the countdown :-) Only 11 months and counting!!

I agree Cabo - don�t see anyway around it with the delay for new regs. On the bright side, the path is clear for the resumption of drilling in 2019 so IMO the stock is one hell of a buy right now. I�m betting the Falcon is an easy double over the next 12 months. I know POQ�s big concern is that some or Falcon�s big investors might be tempted to sell for a lowball offer of $1 or so before the next well is drilled. Some of these big holders, who hold majority interest, have a cost of .15 - .17 cents so a 5X or 6X return would be tempting. If that is his concern then buying the stock here for .30 cents looks to have a downside of only making 3X - Not a bad return for 12 months or so. I�m not wanting it to play out that way but just saying if that�s your downside..........!!