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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Falcon Oil & Gas Ltd. | FOG | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.05 | 0.76% | 6.65 | 08:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 6.65 | 6.65 | 6.65 | 6.65 | 6.60 |
| Industry Sector |
|---|
| OIL & GAS PRODUCERS |
| Top Posts |
|---|
Posted at 26/2/2024 12:04 by mirabeau Tamboran records better-than-expected fracking results at BeetalooSome of the world’s biggest gas producers may look to the Northern Territory for their next big project after better-than-expected results from fracking in the Beetaloo Basin confirmed the commerciality of the resource, according to Tamboran Resources CEO Joel Riddle. Mr Riddle said the results of the Shenandoah South well were good enough to fast-track a pilot project at the site, some 500 kilometres south-east of Darwin, with the aim of delivering gas to buyers in early 2026, depending on financing and approvals. “The industry has really been waiting for this moment where we could see a commercial flow rate,” Mr Riddle said, pointing to the Beetaloo resource as one of the largest undeveloped gas resources in the world. He added the limited development of large gas reserves in the United States, combined with the Biden administration&rsquo “We think this has all the ingredients to provide a lot of interesting strategic opportunities for the company to consider in the months and years ahead,” Mr Riddle said. But the junior explorer faces an uphill task to secure the environmental approvals it needs and proceed into development amid staunch opposition from green groups and others due to the impact on emissions and worries about damage to land and water. Tamboran, which switched its primary stock listing to the US last year amid lacklustre interest from domestic investors, has already fended off three legal challenges. While Tamboran has a target to be net-zero emissions for direct emissions as soon as it starts commercial production of gas, the Environment Centre of NT said Australia’s greenhouse gas emissions could rise by up to 22 per cent if Beetaloo gas was developed. NT Chief Minister Eva Lawler said the results “paint a prosperous picture for the Territory as we strive towards a $40 billion economy” based on its energy resources. But that drew condemnation from activist group Central Australian Frack Free Alliance, which said it was “very worrying” to see Ms Lawler openly supporting the fracking plans when it should be impartially assessing whether the project should be approved. Tamboran raised its estimate of 2C gas resources in the Beetaloo Basin to 2.1 trillion cubic feet after a successful production test over 30 days at Shenandoah South. It raised its estimate for 1C resources, a more certain category but which still does not qualify as “reserves&rdqu “If we are successful in drilling those wells then some of the biggest companies in the world who are looking for their next growth project will definitely be interested in what we are doing here in the Beetaloo,” Mr Riddle said on a conference call. Gas flowed in the well test at a normalised rate of 6.4 million cubic feet per day, more than 20 per cent more than expectations and at the highest rate ever recorded in the Beetaloo. The company is targeting a final investment decision this year on the pilot plant, which would supply 40 million cubic feet a day of gas. A second phase would involve production of up to 1 billion cubic feet a day to the east coast, and involve the construction of a new pipeline. The focus would then switch to supplying a proposed LNG export project in the Northern Territory, targeted at 6.6 million tonnes a year. Tamboran’s Australian-listed securities initially rose as much as 11 per cent but closed down 13.3 per cent at 19.5ยข. |
Posted at 17/7/2023 04:01 by ohisay Short of money again ..Tamboran Resources is undertaking a $5 million SPP which closes later this month (July 27) to provide shareholders the opportunity to increase their holdings at the same 18-cent price as investors in the recently completed $53.2 million Placement. As part of that raise, Texan billionaire and third generation oil and gas investor, Bryan Sheffield, upped his stake by another $14.7 million to more than 15 per cent of Tamboran Resources. “Our largest shareholder, shale entrepreneur Bryan Sheffield is well known in the US, having founded his own oil and gas company, Parsley Energy, which sold to Pioneer Natural Resources for more than US$8 billion,” Mr Riddle said. “There are also a few additional long-term view, US-based, energy specialist funds that took part and they’re all the right kind of shareholders that Tamboran really needs – they represent a lot of smart money – these investors understand global gas markets. “This really is a vote of confidence in the Beetaloo Basin’s resource and Tamboran’s potential.” The funds will be used for further drilling at Tamboran’s Shenandoah South and Amungee well sites within the Beetaloo Basin. “We are fully focused on delivering commercial flow rates from the Shenandoah South and Amungee areas,” Mr Riddle said. “De-risking of these two areas provides us with optionality for initial production via mini-LNG as early as 2024, and the proposed pilot development will target first production by the end of 2025.” |
Posted at 16/2/2023 21:16 by hermana3 If it sounds too good to be true it is because it is. Currency trading can be a "season in hell" for most investors indeed. |
Posted at 14/10/2022 12:39 by mr hangman Investors voting with their feet, by the looks of things |
Posted at 06/10/2022 09:04 by mr hangman One would imagine, after 12 years most investors are bored with this endless nonsense, with no end game in sight |
Posted at 05/10/2022 09:29 by loganair Investor takeaways:The transaction between Origin and Tamboran-Sheffield has changed the competitive landscape in the Beetaloo Basin. The deal does not diminish my bullishness on this emerging shale gas play. Origin exits to pursue shorter-cycle projects, not out of a disappointment at the subsurface geology, and apparently not in a fire sale. From now on, Beetaloo will not be competing for capital and manpower with other projects on Origin's portfolio since it will be the sole focus of Tamboran. As a result, project execution will likely be accelerated. Tamboran is going all out with Beetaloo, hoping the shale play to be its company maker. In contrast, Falcon is being carried in the foreseeable future, thus exposing shareholders to lower risk. I have a long-term hold position in Falcon, which I plan to continue to hold. Should the market offer Falcon shares at a bargain price, I may even add to it. |
Posted at 05/10/2022 09:21 by loganair The important parts of the article:After the completion of the acquisition, Tamboran will hold a 38.75% operated interest, Bryan Sheffield - ex-CEO of Parsley Energy, now part of Pioneer Natural Resources - will have a 38.75% non-operating interest, and Falcon Oil & Gas will retain a 22.5% non-operating interest in the three permits. Sheffield holds 8.66% of Falcon and will own 15.2% of Tamboran. Sheffield has patiently built up a significant position in the Beetaloo play. The important question is whether he will exert his power as a major shareholder to intentionally depress the share price of either Falcon or Tamboran in an effort to accumulate more shares. I believe the primary focus of Sheffield at this time is likely to be uniting various parties and attracting more participants in the Beetaloo play, rather than squeezing out existing partners. I believe Tamboran (the operator), Falcon (non-operating partner), Origin (royalty holder through Tamboran) and Sheffield (equity investor in both Tamboran and Falcon and royalty holder via Falcon) can have a constructive relationship. Multi-party joint ventures are a common practice in the oil industry since its infancy. |
Posted at 14/9/2022 19:15 by mirabeau 'Gas junior Tamboran Resources is seeking to join Origin Energy in the big leagues with a deal to buy into its potentially huge assets in Northern Territory’s Beetaloo Basin.Street Talk understands Tamboran’s been in talks with brokers and investors about a $150 million funding package, with proceeds used to buy into Origin’s Beetaloo.' |
Posted at 01/4/2022 08:15 by the sage Nice find ohisay. They paid a slight premium which is always good to see and puts their investment on our level. I also like the line which makes Falcon more noticeable to other shale investors. Like I said yesterday, the Far East Majors might now act or miss the boat. |
Posted at 07/9/2021 09:18 by ohisay Seeking Alpha article from last year.Furthermore, look at the location of this asset. Australia has a huge energy supply shortage coming which definitely acted as a tailwind when deciding whether the Northern Territory fracking moratorium was going to be lifted. Although new laws and regulations came into force, the moratorium was finally lifted in April of 2018. Due to the coronavirus pandemic and the collapse of crude oil prices, Falcon shares were delivered a "One-Two Punch" which collapsed the share price to $0.07 per share in recent weeks. Although many equity markets have somewhat recovered over the past month, the price of crude oil, for example, is a mere $10 a barrel at the time of writing. Being a micro-cap stock, there are risks which investors should be aware of. The first risk with these companies is a lack of funding which many times mean the micro-cap can run out of time. As we have mentioned above though, Origin's recent $150 million investment puts this risk to bed which is a big positive. In fact, the more pertinent question here is why Origin (in a time of major upheaval in energy markets) has decided to front up that extra cash. Furthermore, due to the low volume in this stock, we do not advise short-term trading in here. The play here is to buy shares at close to the current market price as possible and hold until stage 3 comes to completion. In the recent farm-out to Origin, there was no share dilution, which makes a buy and hold investment perfectly feasible at this moment in time. We have consistently stated that position sizing is the best way to control risk on any given trade or investment. Yes, investors will bemoan the fact that there is no paying dividend with Falcon and no in-depth financial reporting. This, though, is what you get with micro-caps. In fact, many times, the more detailed information one has at his or her disposal on a firm at any given time, the more accurately the market prices the company. This means limited upside compared to the micro-cap which the market believes has too many "unknowns" to accurately put a valuation on. Therefore, to sum up, Falcon Oil & Gas is presently trading at $0.08 per share. What investors need to ask themselves here is whether they really believe the company is worth half of what it was just 7 short weeks ago. Yes, Falcon is a penny stock, and risk is always high when dealing with unconventional assets. However, given the price of the stock and the potential of the project, we maintain that the risk/reward play remains compelling. And remember Origin bought out Sasoils 35% share ... |
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