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Extract from ABC News, 19th July
Gas 'part of the energy mix beyond 2050'
It has been confirmed that there is a rich resource in the Beetaloo.
Companies are now trying to prove they could get the gas out to both domestic and export markets, at cost-effective rates.
What happens when a gas-led recovery collides with a climate election?
We answer your questions by looking at where Scott Morrison's gas-fired recovery was supposed to start, in the Northern Territory's Beetaloo Basin.
"The Beetaloo Basin is in a good position, to be able to reach production some time next year," Ms Schmidt from APPEA said.
The gas company with the most wells, Origin, said the earliest it could go into small-scale production is 2025.
"If the development goes ahead, the project could contribute to the energy security in eastern Australia," it said.
The Pepper inquiry forecast the Beetaloo's greenhouse gas emissions would be equal to five per cent of Australia's total emissions now, if most of the gas was exported.
Ms Schmidt is confident the industry will be able to reduce and offset those.
"Gas will be a key part of the energy mix now into the future and beyond 2050," she said.
"We're heavily investing in decarbonising technologies such as carbon capture and storage."
Thanks 805slo for your post, i wouldn't disagree with your thoughts, and it is always good to hear different views and to question what we are told and what we are not.
I personally think POQ may not be happy about Origins lack of progress this year, but I believe that the revised plan was the right thing to do and that we have a decent chance of success with these wells and would hope that it will lead to a permanent SP rise.
Im unsure what the Pilot Production will involve, or what it may add to the share value.
Hi Gnoles, you reference to drinking Kool Aid was great, I know it was tongue in cheek and your positive about the stock. In the UK, we don't hear the Kool Aid reference, so i googled it and thought it was pretty apt, it's great to hear. I drank the Kool Aid also, and topped up this week, I'm optimistic that we will be moving in the right direction soon too. GLA.
Gnoles reference to "drinking the Kool-Aid" is an expression used to refer to a person who believes in a possibly doomed or dangerous idea because of perceived potential high rewards. The phrase typically carries a negative connotation. Wikipedia
The phrase “drinking the Kool-Aid” refers to followership at its worse. It was coined after a delusional, pseudo-guru named Jim Jones led his cult, the Peoples Temple, to mass suicide. Over 900 people, including 304 children, killed themselves by drinking from a vat of grape-flavored drink laced with cyanide.29 Mar 2018
www.forbes.com
The presentation was quite positive, although the seismic survey has not yet commenced, the well pads are reaching completion. I'd have thought that it would have been advantageous to have undertakes the seismic prior to setting up the new well pad.
POQ suggests that good results in January 23 will lead to a significant and permanent rise in SP, before the pilot production phase commences, the info on the pilot production phase is very sketchy.
Investor Presentation
18 July 2022 – Falcon Oil & Gas Ltd. (TSXV: FO, AIM: FOG) is pleased to announce that Philip O’Quigley, Falcon’s CEO, will provide a live presentation following its Annual General and Special meeting last week with a Q&A via the Investor Meet Company platform on 21 July 2022 at 4:00pm BST.
The presentation is open to all existing and potential shareholders. Questions can be submitted pre-event via your Investor Meet Company dashboard up until 9am the day before the meeting or at any time during the live presentation.
Investors can sign up to Investor Meet Company for free and add to meet Falcon Oil & Gas Ltd. via:https://www.investormeetcompany.com/falcon-oil-gas-ltd/register-investor
Investors who already follow Falcon Oil & Gas Ltd. on the Investor Meet Company platform will automatically be invited.
It looks like someone has been offloading a few loads of 1,000,000 shares towards the end of today's trading,
It was disappointing that we will be waiting for the rig, surely with the Sheffield connection, that would give us an opportunity to talk with other operators in the Beetaloo and make some plans.
The seismic survey and the appearance of the new fracking site remain a mystery.
I did top up, hoping for some good news, but I fear the SP will slip down further with the lack of action. Possibly a good buying opportunity.
Thank you for your thoughts on today's update, its good to hear that things are moving forward. It appears we do now have a well considered plan that we can adhere to.
Was there any mention of the seismic study, and any reasons given for moving the location of the site?
GLA.
Hi WW, apologies, the info on this lse site says the AGM is on 13th, which would be bad luck. Your info appears correct, statement from FOG was as below:
Falcon Oil & Gas Ltd. (TSXV: FO, AIM: FOG) will hold its Annual General and Special Shareholder Meeting via conference call on 14 July 2022 at 4:00 p.m. (Dublin time). A complete notice and related documents are now available on SEDAR at www.sedar.com and Falcon’s website at www.falconoilandgas.com and are being sent to shareholders of record as at 7 June 2022
Thanks for the posts guys, yes 2022 could still be a good year, I'm sure that POQ will be looking forward to updating us with some good news. I know a couple of friends who have topped up this week, it's good that there is still some belief and positivity in this adventure!
Thanks Dprussky, it does seem that Origin are quietly moving along with the revised plan, having studied the new detailed seismic plans.
It appears that tomorrow's AGM was timed to give POQ opportunity to announce the good news of the quiet progress.
There has been a little more buying this week, it will be good to hear from POQ tomorrow!
GLA.
Good spot IT Guy, Tamboran Resources secured the Ensign Rig 970 to spud the Maverick 1H (M1H) in their EP 136 permit, so if this one is heading to the Beetaloo, we could be in luck!
We will all find out what's happening soon enough thru the AGM, Greenlantern is entitled to have a moan, but the change of plan was probably a wise move, it would be nice to hear from POQ that things have been progressing quietly.
Thanks Schlem, info copied from Tamborans press release...
Maverick 1H (M1H) well, targeted to begin in the third quarter of this year.
Tamboran Resources full steam ahead with seismic program, civil works at EP 136 Pad construction and water bore activities within EP 136.
Tamboran Resources Ltd (ASX:TBN) has kicked off a 2D seismic acquisition program and advanced its civil works campaign on its 100%-owned and operated EP 136 acreage, one of its key assets in the Northern Territory’s Beetaloo Sub-Basin.
The natural gas company has embarked on an 85-kilometre seismic acquisition expedition, as approved by the Northern Territory Government, and holds the necessary Aboriginal Areas Protection Authority (AAPA) Authority Certificate.
TBN’s program includes 12 seismic lines, which will allow for enhanced resolution of the Mid Velkerri ‘B shale’ formation within the Sub-Basin.
In parallel with the seismic activity, Tamboran has been developing its civil works campaign since early June.
The energy stock has already erected access tracks, three well pads and a camp pad, while the first control monitor water bore well is being drilled.
Tamboran expects to complete its civil works before it drills the Maverick 1H (M1H) well, targeted to begin in the third quarter of this year.
Preparing for M1H drilling
“We have formally commenced our 2022 civil activities within our 100%-owned and operated EP 136 permit, within the ‘core’ Beetaloo of the Northern Territory," said managing director and CEO Joel Riddle.
“The activities will be undertaken in accordance with the Environmental Management Plan, approved by the Minister for the Environment, and all associated approvals or instruments including an Exploration Agreement with Native Title Holders (as identified by the Northern Land Council) and an AAPA Authority Certificate.
“Despite unlawful attempts by the pastoral leaseholder to frustrate our approved exploration activities, civil works are expected to be completed ahead of the commencement of drilling the M1H well, which is presently on track for the third quarter of 2022.
“We believe the M1H well is one of the most exciting wells to be drilled in Australia during 2022.
“Drilling of the M1H well will be a significant milestone for the company, as our first operated well, and for the future commercialisation of the Beetaloo Sub-basin.
Thanks HRock, a very positive outlook from Empire, part of their letter to shareholders copied below from Hardrock link below:
Shell, in its most recent World Energy Outlook, has forecast demand for LNG to grow from 380mt currently to 700mt by 2040.
The Beetaloo is a major potential source of increased gas supply. Potentially 100 TCF recoverable, enough to power Australian industry for decades....
The Beetaloo enjoys the support of the new Federal Government. Prime Minister Anthony Albanese said during the election campaign: "We've been supportive of the Beetaloo Basin Exploration on the basis of looking at, of course, environmental approvals which need to be considered there, as well as the traditional owners."
The NT Government is also supportive. Last week, Deputy Chief Minister Nicole Manison MLA told the NT Parliament Estimates Committee: "The Beetaloo Sub-basin has the potential to transform the Territory's economy and create thousands of jobs. Again, this is another important step in diversification of the Territory economy."
We continue to position the company to be a major player in the Beetaloo moving from appraisal phase towards production.
Our 2022 work program is now extended to:
Hydraulically stimulate Carpentaria-2H which was drilled late last year, the longest horizontal well drilled into the Velkerri Formation to date. The stimulation has been designed to utilise several fluid mixes to assess which design results in the best production performance. It will also provide an early production type curve for development planning, a better understanding of gas composition and enhance Beetaloo specific completion designs.
Drill Carpentaria-3H, hydraulically stimulate and flow test. This well will be drilled from the Carpentaria-2H pad location enhancing cost efficiency and will seek to optimise fracture stimulation design and create an early production type curve. Together with Carpentaria-2H, this could be a future production well.
Drill Carpentaria-4V. This well will be drilled, vertically only, on the eastern side of the high bisecting the Carpentaria Area in EP187. The well will prove the depth and thickness of the Velkerri shale to the East and will seek to book increased contingent resources, potentially materially increasing our present 400 BCF in EP187....
nit.com.au
In a rare series of interviews, remote community leaders... spoke up to dispel perceptions the Top End’s Indigenous community was united against industrial development.
Debate is centered on the Beetaloo Basin, which has enough shale gas stored to power Australia for an estimated 300 years, an attractive proposition given the east coast’s current power woes.
Australian Petroleum Production and Exploration Association director Cassandra Schmidt in May boasted industrialising the basin could generate $1bn in revenue for the Territory over the next two decades, create thousands of jobs and completely transforming the nearest major town, Katherine.
Those rallying against companies such as Santos and Origin Energy have mounted a high profile media blitz off the back of Tiwi Islanders taking the federal offshore oil and gas regulator to court and anti-fracking group Nurrdalinji Native Title Aboriginal Corporation’s outspoken criticism of the practice.
Their arguments are largely environmental and cultural – focusing on carbon emissions, groundwater health, wastewater disposal and risks to sacred sites.
But Mudburra-Jingili man Jeremy Jackson, who lives in Marlinja on the southwest corner of the Falcon-Origin Beetaloo Basin joint venture, said working with industry was the best way to protect country and improve lives under current native title laws.
Mr Jackson speaks for his uncle, Terry Jackson, a senior mangaya (Traditional Owner) for the Bamarrnganja group in the Beetaloo region.
“Native title you say no, the government will actually go around, to the back door, and you say no, and you get all this mining mob coming in,” Mr Jackson said....
Just over 4 weeks until the AGM on 14th July, so we may not be informed of any plan of action until that week. I hope that things have been happening quietly in the background, otherwise thus could be a very disappointing AGM!
Thanks Hardrock, another good reminder for the nay sayers that the Beetaloo could help solve the gas shortage and help protect Australian National Security, and also help to reduce carbon emissions too, eh greens!