Falcon Oil & Gas Share Discussion Threads

[hermana3] 02/8/2023 07:04

Last well was a big knockback so all eyes peeled on this one...

[ohisay] 02/8/2023 02:30

Have learnt with Falcon there is many a slip between the cup and lip.!
This well is really important for the credibility of the partners in the Beetaloo so they have to make it work .
Its been pretty good for me so far so will give them another chance.

[hermana3] 01/8/2023 18:28

Well played Amigo!

[ohisay] 01/8/2023 07:34

More detail here..

The stimulation program at SS1H is planned to begin during the fourth quarter of 2023.
On completion of SS1H flow testing, Tamboran and Daly Waters Energy will complete the farm-in requirements to earn a 77.5% interest (38.75% each) and operatorship of the EP 76, 98 and 117 permits. Falcon Oil and Gas Australia will hold the remaining 22.5%.
Success at the SS1H well location could support the pilot development investment decision, which includes use of the Clean Energy Fuels Australia (CEFA) facilities and APA Group pipeline to the Amadeus Gas Pipeline (AGP).

Tamboran is targeting first domestic gas sales from the pilot development by the end of 2025.

“The SS1H well is key to progressing our proposed pilot development from the location adjacent to the AGP, where the joint venture is targeting first gas by the end of 2025,” Riddle said.

"This is expected to deliver much-needed gas volumes to the NT and East Coast gas markets at a time when AEMO and ACCC are forecasting a potential shortfall in gas supply.”
Progress at A2H

Meanwhile, at the A2H well fluid lab analysis is ongoing with remedial intervention work planned for later this year, subject to joint venture approvals.

The intervention is likely to coincide with activities at the Amungee well pad where the JV is planning to drill the Amungee 3H well following SS1H.

Having sold at 8.6p am back in at 6.7p with a smaller position.

[hermana3] 01/8/2023 07:03

Good to be "back on the horse" once again....

[hermana3] 24/7/2023 07:42

Exxon dont use the word either. It is left to bouffant Joel to talk up things and he is certainly no wallflower...

[loganair] 24/7/2023 05:02

I am always very suspicious when ever I read or hear a company use the word 'Excited' as usually means we've got our fingers crossed and if does not come out for the best we're up the creek with out a paddle and totally screwed.

One doesn't hear companies such as Shell or BP use the word 'Excited' in any report that they may come out with.

[ohisay] 24/7/2023 03:09

The SS1H well is positioned to target the Mid-Velkerri 'B Shale' about 700 metres or 30% deeper than the earlier drilled Amungee 2H (A2H) well in EP 98, around 60 kilometres to the north.

According to Tamboran's interpretation of data from the Santos-operated Tanumbirini wells in the EP 161 permit, this deeper reservoir is expected to yield higher pressures, enhancing operational output.

Subject to receiving final approval from the Beetaloo Joint Venture, Tamboran plans to kick off drilling at the SS1H well in early August 2023

Tamboran managing director and CEO Joel Riddle said: “We look forward to the commencement of drilling activity at Shenandoah South in the coming weeks with H&P.

“Their rig brings modern US drilling technology to the Beetaloo Basin, a key first step to achieving material reduction in drilling costs and efficiencies.

“We are excited to be working alongside H&P in delivering their first well in Australia.

“The SS1H well is expected to spud in early August and is planned to take approximately 45 days to drill, which will include drilling of a pilot hole, a 1,000-metre horizontal section and logging of the Mid Velkerri ‘B Shale’.

Super important well I think for many reasons .Results should be around end September.

[hermana3] 21/7/2023 17:55

Quiet week here. Need more magic from Joel...

[hermana3] 17/7/2023 07:53

Tamboran sure are lining all their ducks in a row. We are still reeling from latest drill result at Beetaloo but Joel assures us it is only a temporary setback. All to play for still...

[ohisay] 17/7/2023 04:01

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.”

[hermana3] 06/7/2023 18:38

Not quite The North Sea thankfully!

[loganair] 06/7/2023 08:47

Beetaloo is a massive area where one part maybe super productive while another maybe barely commercially viable.

[hermana3] 06/7/2023 07:10

Bouffant loving Joel sure is motoring and to listen to him gets one enthusiastic for the future of Beetaloo. He sure can spin a wee yarn alright...

[hermana3] 03/7/2023 07:45

Good to hear TBN have raised $53.2 for ongoing work at Beetaloo.

[ohisay] 03/7/2023 02:27

Seen on Hot Copper re Tamboran...

Macquarie research note on TBN:
Tamboran Resources shares have also been range bound since July last year. The company is the largest acreage holder of the Beetaloo Basin in the NT, with 1.9 million prospective acres and a contingent resource of 1.5 trillion cubic feet. The stock has been under pressure in recent days after raising $53.2 million at 18 cents per share (12.2% discount to pre-raise close).
Macquarie noted:
“Amungee-2H has been challenging (potentially due to a reservoir skin issue), with an uninhibited gas flow yet to be achieved. Management will be seeking to better understand this completion issue for future wells.”
“Agreement with APA on a 500MMscf/d pipeline is positive, in our view.”
“We have factored in the dilution from the $71.4mn capital raise. We estimate another $250-280m needs to be raised prior to commercial production; if flow tests strengthen, this becomes far less dilutive.”

FOG has some decisions to make next year when the carry runs out .Really important they have some good results from the next two wells...

[hermana3] 30/6/2023 17:20

Logan, History could well repeat itself here....

[loganair] 30/6/2023 08:40

The only time I've ever followed any director buying and thought it was a positive was when the CEO of Cable and wireless over a 2 year period, out of his own money purchased circa £12mln (circa £30mln in todays money) worth shares.

6 months after his final purchase C&W was taken over by Liberty at a price well in excess of his purchases.

[hermana3] 30/6/2023 07:11

Nice one,Greg. Always good to to see a Director buying..

[hermana3] 27/6/2023 18:49

That Bloody Eamon Ryan lover is stalking me!

[p5tvr] 27/6/2023 07:43

Well you've had lots of practice with BEY,let's hope this has a happier ending. :0)

[hermana3] 27/6/2023 07:26

Well it has never been easy here. One for the adnormally patient...

[mr hangman] 27/6/2023 06:17

Yep the next 2 wells are vital, on this 27 year drilling campaign

[hermana3] 23/6/2023 07:23

The next 2 wells are vital. Phil looks wiped out and not his usual self but of course will bounce back .