Member Info for WetWater

Newtofo: You bring up a good question on fracking the remaining 500 meters of the SS1H well. If TAM is going to be fracking additional wells on the same pad, would it be economical to go back and complete the last 500 meters of the SS1H well since frack trucks/equipment will be on location. Then there is the question of what operational hurdles might need be crossed to go back in and frack that final 500 meters - TAM reserved that last 500 meters in case the first 500 meters wasn't successful so I assume that could be done?

gonoles: i had an interesting conversation last week with a neighbor whom is the president of crownquest. crownquest is being bought out by oxy for $12 billion subject to approval by the federal trade commission. this guy told me that the ftc commissioner lina khan, in charge of approving these mergers, hates the oil industry and is being a royal pain in the **** in moving the crownquest/oxy, pioneer/exxon, hess/chevron mergers forward. in his case they gave crownquest a list of 400 questions to provide written answers to the ftc. some of these questions were silly such as "what do you use oil for?" after providing written answers, the ftc has 60 days to respond - about the 58-59 day they issue a list of new questions which they then have another 60 days to approve - my neighbor said he didn't know when or even if these buyouts would be approved by this administration. politics at its best!

i only offer this because it could be a while before scott sheffield or brian sheffield receive actual proceeds from the pioneer/exxon merger.

Frackme: But don't forget to factor in that the Amungee 1H was only producing 4 stages out of 12. I don't know off the top of my head how many meters those 4 stages covered. Based on my rough measurements, which don't count for much, it looks like the SS1H flare is about 25% larger than the Amungee 1H flowing 1.1 mmcf/d. Still a guessing game at this point.

HardRock: Pretty amazing flare in New Guinea. Terrain is beautiful and looks super tough to develop. Also noticed the water curtain they are using to protect the rig from the heat of the flare. I think the next problem they are going to encounter is how to ever get that kind of gas to market - talk about an expensive pipeline project!

Newtofo: I'm of a like opinion to Hardrock but I'll throw my nickel's worth into the pot. Using the 'false' color filter and the apps measuring tool, the diameter of the flare looks to be right at 90 meters. Does that change with clouds, moisture, etc. - don't know but if Empire was approximately100 meters then it looks like this well 'could' have a similar flare. Guess we get that answer in about 3 weeks. Back to waiting!

Hardrock - You would know better than I, but as I previously mentioned could they have been cleaning up the well prior to starting the soak? Specifically - do they necessarily do a soak before bleeding off any pressure? I was thinking Tamboran(?) flowed a well before it went back and started a soak to see if they could increase the flow - not 100% sure on that. For there to be a flare on 12/19 & 12/24 nothing until possibly 1/13 and a clear flare on the 28th after the IP30 day test had initiated on 1/25 indicates what I am thinking. Your ideas?

BtoB: I think everyone needs to pay attention to the last paragraph of your post. I have a contact that was involved in the early discussions with people taking Tamboran public in the US. He told me then that potential investment bankers were uncomfortable with Riddle and his abilities to lead this company forward in a manner necessary for the US market. As I mentioned earlier, this same guy told me that the 'promotional push' regarding Tamboran made it very clear that the Daly Waters group was involved in management and would be helping guide the company. These same people indicated that Riddle was on a short leash - take that however one wants. The AUX plays by much more lenient/looser rules than the US stock market which may be the reason Riddle wasn't particularly receptive to the move. It will be interesting to see how things play out in this transition to the US capital market.

Smallfish9: Thanks for the reply but I can't access the linkedin and the other link has a paywall.

Are you saying Sheffield is a windbag and doesn't know what he's talking about? I am not following what you are saying or getting at.

All I'm questioning is your statement that Pioneer had their technical people in the Beetaloo two years prior to the Amungee 2H - maybe those answers are hidden behind the linkedin sites?

Not trying to be argumentative - just don't understand your answer.

Smallfish9: Curious as to where you get your statement that Pioneer's team has been overseeing the Beetaloo frack operations for two years prior to the Amungee 2H well. I know through engineers that Tamboran's people oversaw the 2H fiasco and Origin oversaw their operations/fracks. Sheffield's people are now overlooking Riddle/management - thus the two new board appointments.

In the US Tamboran stock offering meetings, management itself is promoting the fact that BS and Daly Water's group are involved in Tamboran's operations - The reason for this promotion - Pioneer's shale experience carries a lot of respect in the US and Tam is using that to their advantage.

I can assure you that Riddle and Sheffield want the same thing - success. Sheffield is the type of guy that will see that well operations are run properly going forward i.e. - In the future if people take short cuts to save $40K - $50K and cost the company $25-$30 million in another 2H fiasco, their future with the company will be in short lived. As to the day-to-day operations I suspect Riddle/expanded board are running that show.

Longknife: I believe if you will look into the board's way back machine, I posted I was told by a very knowledgeable person that the Amungee 2H was a 'dead' well. Can it be resurrected? - Not economically and as we know, Tamboran does not have excess cash laying around to throw at non-economical projects. Tamboran is hoping for great success in the SS1H and the follow-up pilot program - with that they hope to put the Amungee 2H in the rearview mirror. We are not going to see Falcon openly address this issue as once again they are a non-operating JV partner - not their news to comment on. Yes, Falcon knows/understands this unfortunate issue but like Tamboran, they hope it fades away. As a result of this screwed-up 2H frack job, we witnessed Sheffield putting two new board members in place and now has his people overseeing the protocol of these upcoming frack jobs.

Gingerale: I agree that you saw a decent flare around 12/19 & 12/24. Then we saw nothing in the next few eye in the sky flyovers. I believe what we are seeing/not seeing is the process of Tamboran cleaning-up he SS1H well. One way to clean these lower pressure wells is to inject nitrogen to lift off the excess water through the production tubing - this is an added expense and in the case of the SS1H may not be necessary. Another way to clean-up these wells is to 'open' them up to blow-off / unload water/sand - then as the pressure naturally declines under open flow one needs to close in the well to let it build up pressure and then open up and rinse and repeat. I suspect that is what is happening on the SS1H well. Once they unload sufficient water the well will flow under a choked down /stable pressure and that's when the 30-day flow test begins.

Based on what we are seeing - not seeing I suspect this is likely the explanation. If that is the case, I would expect the 30-day flow test to begin shortly. Caution - this is a non-engineering person's opinion!

Newtofo: Smallfish makes some valid points in his commentary but let's not forget that his last point can make a huge difference in the economics of these shale wells - the market price of natural gas in AUS far exceeds that in the US. Will that be enough to bring the economics back in line - don't know. I suspect Tamboran has a grasp on their AFE expenses they are estimating to prove commerciality. I don't know that it is an imperative or an important goal to meet or exceed the economics of the US. Being a new endeavor out in the middle of nowhere, it will obviously take time to bring the cost down on this project as infrastructure builds out. I think our immediate concern is the flowrate of the SS1H well. If they can start off with a good rate, then the economics will better come in-line over the next few years.

Hmmm - Now I'm really curious as to why the well was shut-in. The flare from 12/19 - 12/24 indicated, IMO, that the well was cleaning itself up nicely. The well has now been shut-in for a couple of weeks for what might be "non-technical" reasons - that can take one's mind down a completely different rabbit hole. There should be very little financial expense to flowing and metering the well for 30 days. Why would Tamboran not bother to initiate a 30-day flow test other than a potential soaking treatment which, then again, may not even be required/necessary. Why would Tamboran not want any indications of the potential of this well? This is a headscratcher to me! Stay tuned guys - surely Tamboran will let us in on the secret before long.

805slo: Being in the US, purchasing Tamboran stock is not yet a possibility. I am hearing that shortly after the first of the year, Tamboran will begin a promotional campaign - a bet on Tam's stock will likely yield some nice returns. I have not yet seen a firm date as to when Tamboran will be listed on the US exchange. In the meantime, I look forward to Falcon catching an updraft from Tamboran's awaking the US market to the Beetaloo - My Christmas wish is to see a US 0.25 Falcon share price as the SS1H news settles in and becomes better known though Tam's promotional campaign. As we get results from the Amungee 3H and more talk of the planned pilot program I am hoping for about US 0.40 - 0.50 by about June/July.

With good SS1H flow rates, I see a 2X in Falcon over the next couple of months - Can Tamboran match that from their current stock price? Maybe, but for the time I'm sticking with Falcon as I don't believe they face the dilution Tamboran is looking at and also Falcon retains about 5%(?) of their ORRI making their land assignments more valuable. I agree with you that 2024 is going to be a good year for our bird. GLA

Frackme: It's a wild guess but I suspect not too many people other than those on this board closely follow this satellite imagery. I would further guess that, with exception of this board, not too many even follow Falcon when one looks at the limited average daily trading volume. It doesn't take a genius to see that on this thinly traded stock, dumping about 250,000 shares at market in the last minute of trading is going to take this thinly traded stock down. Sadly, my low ball bid of .10 today did not get a share filled. I would remind all that a stockholder in Falcon is not going to get top money for their shares until a bid is made/excepted on this company. If your one of those trying to trade the stock due yourself a favor and move on to a more actively traded security.

In the meantime, I'll just hang out with my fellow board members that are a mixed bag with limited information. This board is about the best we have - love it or leave it.

As Newtofo pointed, zoom in as far as the site will allow keeping pad in center of screen - I liked to use the 'False Color' filter filter. Click on the calendar in upper left-hand screen and then switch dates from Dec 14 to Dec 19 to Dec 24. Carefully pay attention and you will see the flare become larger on each date. I take that to mean the well was cleaning up.

To correct myself - the NAPE conference is February 7-9 this year - Wink Wink Philip!!

Newtofo / tsoprano1 : Good thoughts from both of you. The more I think about that last minute market trade, I agree that a trader likely dumped stock to drive down the price going into the Holiday season - gives everyone three days to worry with the price, question the stock and then with the light trading for the next Holiday week Falcon may become cheaper prior to any announcement after the first of the year. I plan put in a lowball bid to possibly grab some bargain priced Falcon stock.

Also, I agree with Newtofo that now is the time for Falcon to be promoting itself to institutional investors. That could be happening with our two London brokers - we wouldn't be privy to those discussions but hopefully those are happening. I wouldn't expect any institutional investor to pull the trigger on Falcon prior to the flow results of SS1H as these guys invest for the longer term and not just a trade. A great promotional opportunity for our CEO would be a trip to Houston, Tx in January for the NAPE conference - From their website "NAPE serves the energy industry by hosting the world’s largest, most successful marketplace where the primary purpose is connecting decision makers and investors. For the energy industry, NAPE is where deals happen." I have talked to people that annually make this conference - they say this is a great place to present oil & gas projects such as Falcon/Beetaloo.

Newtofo: A US 'stink bid' of .10 or even .09 next week might not be a bad idea. Without news Falcon is likely to languish during this holiday season. Looking at end of day trading, someone decided to dump stock the last minute of the day - IMO nothing to be remotely concerned about - very light volume - probably $20K worth. I understand everyone's frustration over the dead quite (non) news coming out of Falcon but in reality, I don't know what one promotes at this point. I know I sound like a broken record but being a non-operating JV owner doesn't allow for much to be said before news in released by Tamboran on the SS1H well. As many of you know, our CEO doesn't believe in promoting Falcon when there is no news to back it up; otherwise, all you do is disappoint any new investors who buy higher only to watch the stock price drop - ie Tamboran earlier this year. I think we are in for a bit more wait so bring out a new full bag of patience to get us into the New Year.

Someday my friends - Someday!

Tamboran's PR Campaign is starting up - The US market will sniff out JV partner's 22.5% low bearing ORRI in the Beetaloo. Can't be anything but good for Falcon. Look for a US listing shortly after the first of the year. Grab your popcorn.

Tamboran Resources

We’ve been, we’ve seen and we’re very keen!

Tamboran heads into 2024 with a number of exciting developments on the

horizon. Production testing on Shenandoah South 1H (SS-1H) is due early

in the new year and we expect to see positive results given the early data

from logging indicated high porosity and gas saturation relative to offset

wells and DFIT analysis demonstrated pore pressure gradients of at least

0.54 psi/ft (in-line with the most productive regions of the Marcellus Shale

in the US). A successful flow test at SS-1H will allow Tamboran to sanction

a 40 MMcf/d pilot project in the region, supporting the local NT gas grid.

Our valuation for Tamboran currently sits at A$2.47/share, a substantial

premium (~20x) to the current share price of $0.13/sh. While moribund equity

markets can partially explain the performance of many small cap companies,

there is no doubt that Australian investors are paying no attention to the looming

gas shortages that Australia faces and the efforts being made by companies like

Tamboran to develop Beetaloo gas into a major project.

.....................Continued on Tamboran's news release.