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From TBN SEC filing:
The two wells in the 2024 drilling program will create two drilling space units (“DSUs”) totaling 51,200 gross acres around the second Shenandoah South well pad (“SS2”) well pad. The 51,200 gross acre area has the potential to accommodate 23 well pads, or 138 total wells based on six wells drilled per pad. We believe the two DSUs will be more than enough to accommodate all wells associated with the Shenandoah South Pilot Project and over 100 wells for future development phases.
Born to Boogey, I am very well aware of the basin and have intimately followed every single development both technically and business wise for 12 years. I know exactly what the potential is and where it is.
Can you relay how this checkerboard is going to benefit Falcon? Can you convince the board why this development will move off of the spacing units that are to be cooperatively operated by TBN/DW in the short term?
You gave up the 22.5% interest on the acreage for the initial developement, and frankly to 1 bcf/d, in exchange for a 5% GOR. So, unless TBN moves the development, that is the five year outlook.
He's not a serious man, serious salary though.not CEO material.
Many years ago, when I was a young man, I bought several thousands of FOG stock @ 6p per share.
Now I'm an old man (87 today) FOG shares are still 6p .... maybe I'll have it engraved on my grave stone " Are Fog still @ 6p ?"
State side we are down 11% on 20,000 shares trades. I know it was up Tuesday 12%. But clearly every time POQ tries to explain his ever evolving plan the price goes down. I do have a question…does anyone know if we have the money to stay in the four wells planned for 2025? Or do we have raised more cash?
B2b-The company that is planning for an exit has no clear plan. It’s now being described as an ever “evolving plan.” I don’t understand how the checker board benefits us. So we sell off small portions of our assets to use that money fund other portions. Sounds like ten more years. Hmmmm. Ok…to what end.
POQ’s word cannot be relief upon. This is clear and he has now inserted “ever evolving” into his narrative. Last meeting, there would be no issues raising money with our well results and no need to farm down. Both were not true. And he never answer the question of why he sold off our shares to BS for so cheap. At the time of the sale, FOG was not trading at 6p. They are now, because his poor sale communicated to the market the value of the stock.
He admits there needs to be more marketing of the stock. Yet he has no clear plan other than we need to market more in the US. I simply want to see a copy of calendar for the past year. What has he been doing?
Gas is there. But do we have the leader and board to execute? I grow less and less confidence each year. Why would anyone buy stock in FOG when you can buy stock shortly in TBN on the NYSE? The whole point of FOG was to develop an asset and sell it. Not we plan to play checkers. While I do not share the position we are getting hosed or this is just a scam….I do believe it’s all being poorly executed by POQ and the board.
What a pity Mr Smallfish you don't have access to the Formentera material. If you really think the Beetaloo is all about the small area around our Shenandoah South well then fine but don't be surprised either when you are rightly called out.
One of these companies thinks it wants to become an Exxon, the other is planning for an exit. It's as simple as that.
The Australian institutions clearly decided not to back the Riddle gang , and even though the company will establish itself in the US, the whole process will have proven very costly {and dilutive} to existing shareholders.
In the next 7 days or so, before the end of the month, I expect we'll have a further update from Cavendish Securities. The analyst's focus will be more on the next two 3 kilometre wells and the potential accretive value to Falcon's >one million acres in the Beetaloo. Assuming all goes well too next week, Tamboran will prove helpful {along side Bryan Sheffield and family and friends} in raising the profile of our company Falcon Oil and Gas. What's more the analyst sees 'the checkerboard' agreement at the end of the year further improving the outlook for our company.
You can buy from literally any significant exchange on the planet via Interactive Brokers.
https://www.interactivebrokers.com/en/home.php
I only post this stuff because I like the vast majority of you and firmly believe you're being swindled. I would add that I once called POQ do discuss his team's technical capabilities. He told me he didn't need a technical team.
"LOL, Falcon is using a slide published already by TBN in 2023 for their newest FOG presentation. Since FOG is not capable to update this slide with the newest test results from Shenandoah 1H we have to wait that TBN is concatenate this slide with the newest test results (as an additional proof that the Beetaloo will have better gas production rates than the Marcellus)"
https://hotcopper.com.au/threads/ann-tamboran-launches-nyse-initial-public-offering.8055456/page-14?post_id=74401069
Bournetoboogie says:
Plans for Bryan Sheffield's company to become the operator in large parts of the Beetaloo before the end of this year with Falcon as its 22,5% partner, and recognition too that there is circa one million acres at similar depths with similar geology outside the small area where we're currently drilling was hammered home again and again during the presentation. Management was also very positive about the other areas in the Basin too.
_______________
If you believe this given all the information out there I've got ocean front property in Arizona I'd like to sell you.
I am now retired and thoroughly enjoy it. During a very early time in my career as a management trainee, I had the privilege of working with a group of DoD high level Project Managers. I specifically remember one of the Project Managers once shared with me the following phrase: "Never confuse Motion with Action". I was pretty young at the time, not fully understanding his point. He explained that at times, just because I did not see a lot of physical movement in their behavior, that did not mean there was no action taking place. All the action (i.e. planning) was always taking place in their minds. I remember his point to this VERY DAY. I did in deed learn to "Never confuse Motion with Action".
To that end, now that Tamboran's Beetaloo project has been awarded Major Project Status by the Northern Territory Government, I continue to trust the "Entire Team", made up of Tamboran, Daly Waters Energy, Sheffield Holdings, Helmerich & Payne, and Liberty Energy (oh, I forgot, Falcon Oil & Gas) ;-). As members of this board, I believe we, for the most part, agree that FOG can and should do a much better job in the area of Marketing and Public Relations.
So POQ, if you are listening, it's time to follow the "Entire Team" and its comprehensive plan, lest we are forgotten and get left behind. Remember, Perception is Reality.
Since Falcon seems to still wonder if they should market to the US market -- thought I would take a stab at some potential catchy headlines they could use.
The little mouse that will really roar in the Beetaloo
Small company -- Big Potential in the Beetaloo
Company sitting on the sidelines with huge potential
You've heard of Tamboran and Empire - now hear about Falcon
The company that had all of the Beetaloo -- now only 22.5%
Checkerboard strategy could be checkmate in sale of company
You can add your own.
I know some of these may be in jest -- but a good PR/marketing firm can get some traction out there so that people hear about us. We don't need something in the Dublin or London papers. We need Dallas, Houston, Austin, San Antonio, Midland, etc. You have a ton of ghost writers who do this for a living.
And yes, i have a lot of shares of Falcon - (over a million), have Tamboran (not so much) and Empire (even less).
If you talk about the depth of your shareholders -- get depth by letting the little folks buy in now. I originally bought in under the Bruner days at $5 to $6 dollars a share. Kept buying on the down, but now not buying anymore and waiting for the upturn.
So POQ -- I suggest you take some money and apply it towards a PR marketing person. You may be surprised what a good independent person can do. You don't need a large agency with large overhead. You need someone who is an independent and knows the oil and gas industry. Lots of companies have been bought out lately and I'm sure there are some PR and marketing folks out looking for the next gig.
Ok folks will post something if Falcon posts something I have Google feeds set up for Falcon and Tamboran. It is just that Tamboran pops up.
Https://www.themercury.com.au/business/tamboran-to-develop-onshore-gas-project/video/d58750b5f5a788d9b4532944fe4a133f
Sorry I haven't seen anything from Falcon so I keep posting Tamboran or Empire info.
Hopefully someone gets the hint and hires a U.S. PR firm.
Or any good PR firm to generate some Press.
The votes were announced at the AGM and no surprise those who do not share the collective view s of the Board were drowned. 24 persons attended the AGM at the Conrad hotel.. At least 3 parties had more than 5 million shares.
The whole meeting was very positive. Spirits had been particularly buoyed prior to the meeting by confirmation of the news that the Tamboran IPO is planned for early next week. Previous to that some people on this board had clearly not grasped that the whole Beetaloo project was not in a good place, South Africa was also raised just before the Meeting started and no surprise that generated a lot of laughs.
Plans for Bryan Sheffield's company to become the operator in large parts of the Beetaloo before the end of this year with Falcon as its 22,5% partner, and recognition too that there is circa one million acres at similar depths with similar geology outside the small area where we're currently drilling was hammered home again and again during the presentation. Management was also very positive about the other areas in the Basin too.
We learnt that the Northern Territories and Federal Government continue to be very supportive about the whole project but we're now reaching the stage that if the project is going to now seriously advance the big boys with deep pockets need to come in more into the play.
Fortunately for us the Falcon Board has successfully husbanded our limited resources and there's little doubt the message has been successfully hammered home that we have the patience to wait for an offer that recognises the value of the company's assets.......and on that note the next few months with the drilling and fracking of two 3 kilometre wells {SS2 and SS3} should be critical catalysts.
Maybe everybody bombard them with emails. Easy done. If nothing occurs nothing lost. Just to show the level of feeling about how the company is being run.
Probably get nothing back. But have emailed asking for votes per resolution. Also asked Nally for responses to each question put forward in OLEOs open letter, as didn't feel covered in POQs. QA
I also would like to see the vote totals announced by the company to see if no votes are happening POODS
POQ did okay, but again no one believes. I’m going to continue to add. POODS
For those who think nobody is driving, both Tambo and BS are on the wheel. POQ is just another passenger though too expensive for us. The POODS proposal to do a reverse split is very smart, but unfortunatelly peny stocks use to return to that condition if no promotional activity or strong prove or value is presented with/after the reverse. That makes me feel worried about wasting a very serious tool with a CEO who has got used to do just nothing out of being paid a fortune. So the correct timing is esential. Now I miss the skill of Bruner to promote Falcon, he was a smoke seller but very good at that, maybe because his $ where on the pot, whereas POQ has no personal interest in FOG success.
'Covered on ABC radio Darwin. Powerful. Positive interview.'
Could this news unleash a flood of investment into Beetaloo now the risk of investing in Beetaloo has been reduced somewhat?
The market views this news as a value accretive piece of news, TBN up 8%. It's the proverbial 'green light' by the NTG
ASX` ANNOUNCEMENT June 19, 2024
Tamboran Resources Corporation (ASX: TBN)
NOT FOR DISTRIBUTION OR RELEASE IN THE UNITED STATES
Tamboran’s Beetaloo Basin development awarded Major Project Status by the Northern Territory Government
Highlights
• Tamboran Resources' (ASX: TBN) development of the Beetaloo Basin has been awarded Major Project Status by the Northern Territory Government (NTG).
• Major Project Status provides Tamboran with significant benefits, including;
− NT Government acknowledgement of the Beetaloo Basin’s significance to the Territory’s economic prosperity,
− continuing support for Tamboran as it progresses its local development plans in the Beetaloo Basin, with first gas being supplied to Territorians ahead of the target East Coast domestic gas and LNG export projects,
− regulatory approval process mapping, and
− a dedicated project case manager to assist with coordinated and streamlined communications within Government.
• The recognition of Major Project Status demonstrates the NTG’s support for Tamboran’s integrated development of the Beetaloo Basin that aims to provide energy security and significant job opportunities for the people of the Northern Territory.
Tamboran Resources Corporation (ASX: TBN) Managing Director and CEO, Joel Riddle, said:
“Recognition of Major Project Status demonstrates NTG’s support for the development of the Beetaloo Basin. It also recognizes Tamboran’s commitment to work closely with the Government to ensure the benefits of our development are delivered to all stakeholders within the Territory.
“We look forward to working closely with the Government in ensuring our development plays a major role in achieving the NTG’s long-term economic plan, including the potential for the Beetaloo Basin to support 13,000 jobs and increase economic activity by A$17 billion by 2040.
“The Beetaloo Basin is an economically significant project for the Northern Territory, which is expected to deliver energy security and job opportunities to Territorians, and millions of dollars in royalties to Native Title Holders and the NTG for decades to come.”