Member Info for WetWater

VegasGal - Doesn't surprise most of us - SA is killing their resource development with the new leadership/policies. We were hopeful things would change for the better but instead we got even worse. I can't see Falcon or anybody developing shale until things become clearer and more business friendly. Africa has S##t in their bed IMO.

ITGuy - They probably already have the tee-shirts and banners printed!

I'm in that same boat Origin - wanted to buy more today but didn't want to overly temp the gods that love to punish greedy people I have enough to demand my attention the next 2-3 years and afford a ticket to Dublin at the next AGM. Congratulations All. Bigones - I'm glad you bought your one way ticket! I suspect over this next 11 months you will get a chance to purchse the ticket back home.

Jfhealy - The solution to that is to tune in Wednesday of next week.

Good point on the GOR option - I had forgotten about that and I'm sure that is something they will pursue. I realize that stages 2 and 3 are capped but I am going on what POQ told me after the first well. There is always a possibility exceeding a cap but POQ said in the farmout agreement Origin had allocated a sufficient amount of funds for the drilling of each capped well to the extend he didn't expect Falcon to have to kick in any overruns - I guess time will tell on that one. If they pursue the Kyalla that will decrease cost though it may be immaterial during this exploration phase. Also, I have no idea how much the engineering studies and appraisal work will run when it comes time to sell. Maybe Origin will cover part of that expense? They have expressed an intent to sell off additional acreage so those studies would/could also benefit them. We had a comfortable buffer initially but with having put 2018 cost a year of cash. If they have $9.2 million and the burn rate is $2 million/yr things could be close with the GOR option considered - Thanks for the reminder. At the end of the day, if Falcon runs short on cash it would likely occur after the next 5 wells and when the stock is in hopefully the $2.00 usd range - not as much dilution at that point. Curious as this is your field - what are your thoughts on raising additional funds to prove up what could potentially be 3 benches across this large aerial extent of acreage? I don't see the 5 additional wells getting very far in proving up anywhere near the full potential of the Beetaloo. Thanks

Cash and Cash Equivalents decreased by $2 million - Cash and Cash on Hand $9 million at the end of 2017. That will carry them through the next 3 years or so. With their current burn rate they are on schedule maintain liquidity through the balance of the farm out dilling program and a year of appraisal work and potential sell. The company appears to be on solid footing for their current business plan. With POQ being an accountant and CEO I take him at his word when he says Falcon will not need to raise additional capital. IMO participating in additional drilling would be beneficial to the sell price but that's the board's call.

I've placed my bets and very optimistic of the outcome - I cannot fathom the NT backing out on their multiple promises to follow the Inquiry Panel's decision. Between the NT's job and economic doldrums and the Fed breathing down their neck to cut GST even further I don't see Gunner cutting his own throat and not lifting the ban - then you have all the NT's promises to Inpex to open up onshore gas development, NT business community looking for development opportunities, etc. Heck - even Darwin is starting to come around to the benefits of developing onshore gas. Pricewise I am not as optimistic as some on this board looking for a double on the lift - I suspect we will see more of a 50% gain over the next week. I am still thinking of a price of around .75 usd (52 p) by the end of this year. Once Origin starts drilling and and announcing success the stock price will increase nicely. I have had discussions with a friend close to POQ and his endgame. IMO once Falcon moves forward on the April 2019 drilling program and has 2-3 successful wells behind them the stock will increases accordingly. Falcon only has 5 wells to prove up multiple zones and vast acreage. I think, as does my acquaintance, that it would be worthwhile for Falcon to raise another $100 million for an additional 5-10 wells (maybe 50 million shares at $2.00 usd). I think the additional proved contingent reserves would make the company's diluted stock worth multiples of of what it will be at the end of this original carry - I'm thinking $10 - $12/share. POQ is still sticking to his original plans but at least he is talking and listing - maybe as time goes on that planted seed might grow some roots with the board. POQ doesn't want to get into the development business but IMO with 4.6 million acres Falcon could drill 5-10 additional wells and still be in the exploration/appraisal phase of the field. I suspect that if the original wells are successful, the planned drilling of an additional 5-10 wells before selling would in itself boost the stock price. Just my crazy opinion - Anyone could still bail/sell at any point.

From a trusted source very close to Falcon/Origin - "Not sure about wrinkles but have it on good authority it's lifted w announcement next week. Tuesday."

VegasGal - I loved Alan comments on the article ------ It's called HELPING THOSE (OR NOT) WHO HELP THEMSELVES Gunna's economics playschool, and blocking essential developments and sending wrong messages to investors are concurrently sending strong messages to Canberra. If he thinks the Territory can survive on tree hugging ideals and getting into bed with CFMEU thugs and sucking funds from Canberra, without concurrent efforts, it should have been clear a year ago what was going to happen Politics 101 !!

I'm hearing it's a 'done deal' and the announcement will come Tuesday (Local time I assume) - Wish I knew if it was a 'done deal' as far as the ban being lifted - we probably won't know that until the words come out of G's mouth. I betting YES with an additional 50K shares today - if I'm right then I be smiling - on the other foot........

Nice video link Bdaddy. Cunningham seems to have been the main journalist who has been on top of this fracking debate. Good to hear him saying that a decision by the NT government is expected early next week. Also nice information and quotes on the Jemena pipeline - they are waiting for the moratorium to be lifted to begin the expansion of the pipeline to 700 petrajoules a day - enough to supply the whole east-coast. They are just waiting for Gunner to pull the trigger!!

Sorry - Guess I need to spend some of my Falcon Fortune on new bifocals - I may need a 'pay-day loan' as I may be legally blind by the time this slow boat comes in! Come on Gunner lets get this process started..

Someone needs to pick the 16th so I will have somewhat to cheer for!

OK - I'll play - 19th 10am local Hope I win something really big (as if the moratorium being lifted will not be a prize in itself)

SIGH!!! I guess we can last two more weeks after all this time. Gives me time to possibly slip in a few more shares. Natasha just wasn't going to throw in the towel to the interviewers - sounds like the cabinet just has to have a couple of more weeks regardless of what the final report findings were. After all appearance is important and there is a script/timeline to follow. She's going to dance the dance.

Good News - BigOnes is on board the train! Didn't really want to leave the guy behind though we may put him in the last car by himself :-) Kidding of course - I was pleased to see his post earlier that he was back with Falcon. Like others, I expect the joint meeting tomorrow morning will be the announcement we have been waiting for. Good luck to all - Hopefully BO made a serious misjudgment by not going all in before the stock hopefully finds the .30s usd tomorrow.. If not tomorrow - sigh!!

Walk-it-off: I am wondering is the message popped up because it is a 'taxable' Ltd. partnership account From what I read on site my impression is that had it been an IRA account it would have been eligible for the CRA withholding rate. Since my partnership K-1s two Roth IRAs and a defined benefit plan the income will not technically be taxable but if Canada withholds 25% in hard income then I may be in trouble because at the end of the day there will be no taxes paid or due and thus no way to recapture it through a US issued credit. Like I said - this may just be a personal problem - if so I will need to sell prior to the actual Falcon dividend and forgo the new stock issue. That's will be a question for the accountant.

I just wanted to post the pop-up window I get in Fidelity when I enter a trade. When tax season slows down I will get my CPA to research and explain the Falcon tax ramifications of a potential sale early verses wait for the special dividend to be paid. To complicate things further my shares are owned in a partnership which in turn is owned by my Roth IRA and a Defined Benefit Plan. On the surface the entity is taxable from the Fidelity/Canadian perspective but will not end up as taxable income when K-1'd to the Roth and DBPP - Oh well it will probably be a while before I have to face this issue head on! Warning: (034100) Your account is currently ineligible for Canadian Revenue Agency (CRA) reduced withholding rates for dividends. The standard 25% withholding rate will be applied to Canadian-sourced income. To obtain more information on CRA withholding rates, click

Walk-It-Off: That makes my head spin. I guess this is why I have found it necessary to have an accountant. As I mentioned, he is is Falcon and I he know prepares international tax returns for US clients so he likely understands the tax laws. When I catch him in town I will bounce it off him and see what he says and report back. I also recall seeing a window pop up on Fidelity when entering an order that mentioned that FOLGF was subject to a 25% Canadian tax of some type. It might be the tax treaty mentioned. I will try to enter a trade on Fidelity tomorrow and see if I get that same pop-up message. I know the US works with Germany and I suppose they would with Canada as well. My daughter and family lived in Germany for several years and I know the taxes they paid in Germany somehow flowed through to their US return.

Newtofo - Yep - and since I have my accountant in Falcon I bet he will get me that answer. Just have never bothered to worry about - just focused on getting the damned moratorium lifted!! I can see where we in the US might not want to hang around for the final act :-)