RE: ~.6 per share8 Apr 2020 23:23
Thanks greenlanteren64. This just doesn't make sense any longer. I have been holding this position since 2011. I get partnering with Origin - that obviously needed to be done. When they announced the resource estimate on Feb 15 2017, I did a very rough back of the envelope valuation. Even with oil & gas prices as low as they are, the potential resource value is enormous, and the 2017 estimate is not for the whole acreage owned.
I get regulatory delays, the difficulty of the remote drilling operations, one delay after the other. Lots of unexpected roadblocks. But something about how this is playing out doesn't make sense to me any longer. Giving up complete control to Origin at this point - sure seems setup to me so that Origin will eventually own 100% without the need to "buy" Falcon. I hope this is just another unfortunate event but the trend is not in our favor.