Falcon Oil & Gas Share Discussion Threads

[hermana3] 15/10/2021 07:35

Chesty, Tis way more sport on here! Oh the wonderful smell of egos burning n' eating of humble pie....

[mirabeau] 15/10/2021 07:32

Cenkos

Falcon Oil & Gas Ltd

Proving The Potential

Falcon Oil & Gas has announced the completion of the drilling of the Velkerri 76 appraisal well to a total vertical depth of 2,129m. Preliminary evaluation of the well is very encouraging and has confirmed the presence of four prospective intervals within the Amungee Member, proving both the continuation and the uniformity of the regionally extensive Amungee Member across the Beetaloo Sub-Basin. Analysis of the mud gas data taken during drilling has evidenced that the Amungee Member at the Velkerri 76 location is likely to be within the wet gas window, giving Falcon significant areal exposure to the Amungee Member across a range of maturity windows. The results of the Velkerri 76 well, together with the revised normalised flow rate of >5MMscf/d from the Amungee NW-1H well highlights the significant opportunity Falcon has in the nationally important Beetaloo Sub-Basin.

Velkerri Liquids Rich Play Falcon has announced that drilling has completed on the Velkerri 76 vertical appraisal well to a vertical total depth of 2,129m. Preliminary evaluation of the well has been very encouraging and confirmed the presence of four prospective intervals within the Amungee Member, the A, AB, B and C shales, as established in the Amungee NW-1/1H, Beetaloo W-1 and Kalala S-1 wells. The result confirms both the areal extent and the uniformity of the Amungee Member across Falcon’s acreage – providing Falcon with a large fairway to identify the optimal location from which to prove commercialisation of the Beetaloo. Analysis of the mud gas data acquired during drilling has indicated that the Amungee Member is likely to be within the wet gas maturity window, providing Falcon with significant areal exposure to the Amungee Member across a range of maturity windows. 93m of continuous conventional core was acquired across the Velkerri B and AB shales and extensive wireline logging data was collected to enable the detailed formation evaluation of the prospect zones within the Amungee Member. A diagnostic fracture injection test (DFIT) will commence shortly across the Amungee Member, with the results providing further information to assess the Velkerri wet gas play’s hydrocarbon maturity, saturation and reservoir quality. The results will be used to determine the potential for future horizontal drilling, completion, stimulation and production test of the Velkerri liquids rich gas play.

Why Depth is Important Fundamental to the commercialisation of a shale gas resource is the balance between geology and economics. When you compare the published Velkerri data from the wells drilled across Falcon’s acreage (Kalala S-1, Amungee NW-1/1H and Beetaloo W-1) the geological parameters are remarkably consistent across the Beetaloo. As a result, one has to look at the economic aspects of a development in order to determine its commercialisation – and this is where depth comes in. The deeper the target the greater the development costs, however greater depth also usually means greater well deliverability and resource density. The key is finding the optimum depth window that balances reservoir deliverability and costs. As a result of the extensive work programme and the five wells drilled to date, Falcon has amassed a large suite of technical information, providing the Company with all the data it needs to establish the optimal location from which to prove the commercialisation of the Beetaloo.

Near Term Catalyst c.100km to the east of the Amungee NW-1H discovery, Santos and Tamboran Resources have completed the drilling of the Tanumbirini-3H vertical well to a target depth of 3,760m. The Middle Velkerri B shale was encountered in line with pre-drill expectations, with mud gas readings encountered within the Middle Velkerri B shale consistent with the data collected from the previously drilled Tanumbirini-1 and Tanumbirini-2H wells. Drilling of a c1,000m horizontal section in the Middle Velkerri B shale is to commence shortly, with the well anticipated to reach total depth by the end of October. After completion, a fracture stimulation operation will be conducted on both the 2H and 3H wells with preliminary flow test results anticipated to be available prior to the end of 2021. The results to date have been encouraging with the Tanumbirini-2H well encountering significant gas shows and pressures. Natural fractures, strong pressures and gas flows during drilling are typically indicative of a shale that will respond positively to fracture stimulation. The aim of the drilling programme is to establish commercial flow rates from the Velkerri dry gas play – the same play where Origin/Falcon discovered 6.6Tcf of gross contingent 2C resources as a result of the successful Amungee NW-1H well 2016 extended production test (EPT). The 6.6Tcf of 2C resources only covers an area of 1,968km2, immediately surrounding the Amungee NW-1H well, with any success by Santos/Tamboran likely to extend the Velkerri B shale dry gas play fairway to the east.


Velkerri Potential Already Established The potential of the Velkerri formation to flow both dry and liquids rich gas to surface has already been proven elsewhere in the Beetaloo SubBasin. Towards the centre of the Beetaloo, a production log test conducted by Origin/Falcon at the Amungee NW-1H well in September 2021 resulted in a normalised dry gas flow rate of between 5.2-5.8MMscf/d per 1,000m of horizontal section. These test results significantly exceeded the expected commercial threshold of 2-3MMscf/d per 1,000m of horizontal section and puts the Beetaloo on a par with other shale gas basin in North America. c.60km to the east of Falcon’s acreage, Empire Energy has successfully demonstrated the ability of the Velkerri liquids rich gas play to flow liquids rich gas to surface. The Carpentaria1 vertical well flowed at an initial stabilised rate of 0.37MMscf/d over a 72-hour test. In late September, Empire restarted the Carpentaria-1 extended production test, following the lifting of COVID-19 related travel restrictions. The results will further enhance Empire’s understanding of the relative productivity of each of the Velkerri Formation shale targets and the gas composition of produced hydrocarbons. The data collected will inform the positioning of the Carpentaria-2H horizontal well, which is expected to spud in late October. Hydraulic fracture stimulation and an extended production test of the Carpentaria-2H is planned to commence early in the 2022 dry season and will test the commercial production potential of the well. The positive initial results from the Carpentaria-1 vertical well provide a direct look through and potential extrapolation of the Velkerri liquids rich gas play into Falcon’s acreage and the Velkerri-76 well location.

Liquids Content Enhances Economics Liquids rich gas has the potential to substantially enhance the economics in the event of a discovery. As a rule, the higher the calorific content or British Thermal Unit (BTU) of an energy source per unit, the more valuable it will be when sold. A liquids rich gas is a gas containing heavier hydrocarbon compounds that increase the calorific value (more BTUs per unit). Ethane, propane and butane all have higher calorific values than methane or ethane and are therefore more valuable. As an example, the US NGL composite price in July 2021 averaged US$9.35/MMBtu, c2.4x the average Henry Hub natural gas spot price in the same period (US$3.84/MMBtu).

end

[jaforsadi] 15/10/2021 07:31

Needs testing first

[chesty1] 15/10/2021 07:25

Glad I topped up yesterday just below 7.1p

Should be a very solid day

Now walk it north please

[hermana3] 15/10/2021 07:20

Arise and follow wee Phil!

[hermana3] 15/10/2021 07:15

And them shorters are running for the potty!

[kidknocked] 15/10/2021 07:05

Could be a very interesting day.

[chesty1] 15/10/2021 07:03

News is out folks!!!!

[duck_and_dive] 14/10/2021 22:05

Please look at the chart. People were dumping from 15p-9p, where many bought too. Staled bull was locked for 3-4 years, now the new ones are getting locked in.

[kidknocked] 14/10/2021 20:49

Some quite healthy purchases in Toronto and New York. Let's see if that means a bump up in the morning.

[kidknocked] 14/10/2021 20:48

Duck and dive, you said there is an authorisation for a placing. Surely you can find that and post it ?

[duck_and_dive] 14/10/2021 20:11

Let's talk about why it's crashing.

why the big holder dumped/ continues to dump?

what happens when dud rns comes?

[kidknocked] 14/10/2021 20:04

And you cannot post on the other thread on the account of being a bell end. Thanks

[kidknocked] 14/10/2021 20:03

Duck and dive. Post a copy of the resolution authorisation dilution. Bet you cant. Even if there were dilution, so what ? This has a £75m market cap so if they need a few quid then hardly any dilution at all. Please try harder as your attempts are embarrassing!

[duck_and_dive] 14/10/2021 19:49

There are not too bad things happening here

A dud
Big holder dumping
and now potentially authorisation for dilution.

[duck_and_dive] 14/10/2021 19:48

Special shareholder meeting in other words authorisation for share placing.



Falcon Oil & Gas Ltd. Falcon Oil & Gas Ltd. - Notice Of Annual General And Special Shareholder Meeting

[hermana3] 14/10/2021 18:38

Wee Phil has always been fond of the old printing press....

[kidknocked] 14/10/2021 17:03

Hi BR. Hope you're doing well. Kid

[chesty1] 14/10/2021 16:16

Well someone picked em up @7p

[bad robot] 14/10/2021 16:00

FOG Good shs to buy,

Wrong FRED, should be on ALL in EOL FRED


BR
IN BR WE TRUST
RED MERCURY CREW

[kidknocked] 14/10/2021 15:40

No. Read the AGM notice. Thanks

[kidknocked] 14/10/2021 15:32

The downside is a couple of pence, the upside is considerably more. Worth taking a punt on.