Falcon is a global energy company with projects in Hungary, Australia & South Africa

Developing large acreage positions of unconventional and conventional oil and gas resources

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Message: Market Wrap

Falcon Oil unit to farm out 7.5% of Beetaloo permits

2020-04-07 06:12 ET - News Release

Mr. Philip O'Quigley reports

FALCON OIL & GAS LTD. - BEETALOO FARM-OUT

Falcon Oil & Gas Ltd.'s 98-per-cent-owned subsidiary, Falcon Oil & Gas Australia Ltd., has executed an agreement that includes a restated farmout agreement and joint operating agreement with Origin Energy B2 Pty. Ltd., a subsidiary of Origin Energy Ltd., to farm down 7.5 per cent of Falcon Australia's 30-per-cent participating interest (PI) in the exploration permits in the Beetaloo subbasin, Northern Territory, Australia. Falcon and Origin are obligated to seek the Northern Territory government and TSXV stock exchange approvals, in respect of the Agreements.

Transaction details

  • With the necessary approvals, the PI of the respective JV partners will be:
    • Falcon Australia 22.5%
    • Origin 77.5%
  • In consideration of Falcon Australia transferring 7.5% of its PI, Origin will increase the gross cost cap of the work program by A$150.5 million.
  • The previous farm-in arrangement included a Stage 2 gross cost cap of A$65.3 million and a Stage 3 gross cost cap of A$48 million, or A$113.3 million in total. Under the Agreements, the Stage 2 and Stage 3 gross cost caps will be combined and increased by A$150.5 million to A$263.8 million (the "Overall Cost Cap"),
  • This Overall Cost Cap will be applied to the completion of the Stage 2 and Stage 3 work programmes.
  • Amounts of the Overall Cost Cap not utilised during Stage 2 and Stage 3 will be applied to future work programmes.
  • Expenditure above the Overall Cost Cap will be borne by the JV partners in proportion to their PI.
  • Origin will assume 25% of the cost of Falcon Australia's remaining call option to reduce the overriding royalties with the TOG Group. The cost to Falcon Australia, should it wish to exercise the call option, will reduce from US$7.5 million to US$5.625 million, in line with its reduced PI.

Operational Update

Drilling operations on the Kyalla 117 N2-1H ST2 well ("Kyalla Well") were successfully completed in February 2020, reaching a total measured depth of 3,809 metres, including a 1,579-metre lateral section (from 90 degrees) in the Lower Kyalla Formation. Water impact monitoring bore drilling was completed in March and final preparatory work continues ahead of the next stage of operations. On 26 March, in response to the COVID-19 pandemic, Origin confirmed forward operations in the Beetaloo had been temporarily paused. As a result, Origin expects a delay to the Kyalla Well stimulation and extended production test of at least 3 months to now occur in H2 2020, and the drilling of the Velkerri Flank well in H1 2021.

Philip O'Quigley, CEO of Falcon commented: "Falcon Australia's farm down of 7.5% of its PI in the Permits for a further gross cost cap of A$150.5 million, provides Falcon with additional funding that can be applied to the completion of the Stage 2 and Stage 3 work programmes. It also demonstrates Origin's continued commitment to the Beetaloo Sub-basin. This farm down together with Falcon's unaudited cash reserves of US$11.5 million at 31 March 2020 leaves us well positioned to participate in the future upside potential of the Beetaloo. We look forward to updating the market as soon as operations recommence in the Beetaloo."

About Falcon Oil & Gas Ltd.

Falcon Oil & Gas Ltd is an international oil & gas company engaged in the exploration and development of unconventional oil and gas assets, with the current portfolio focused in Australia, South Africa and Hungary. Falcon Oil & Gas Ltd is incorporated in British Columbia, Canada and headquartered in Dublin, Ireland with a technical team based in Budapest, Hungary.

Take away:

1. Stronger commitment by Origin to complite stage 2 and 3 work programms.

2. Stronger finacial position for Falcon, no dilution.

3. Buy recommendation.

Therefore

Do not sell any of your Falcon shares under $10.00 

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Be on the lookout!

Presented by Regulator Watch
Monday, Nov. 30, 2015

Regulator Watch - Regulator Watch

Canadian investors may be shocked to learn that regulators believe the brokerage arms of several of Canada’s biggest banks could be routing Canadian retail investor orders on a wholesale basis to U.S. dealers for execution. The practice could threaten the integrity of Canada’s stock markets and expose the average Canadian investor to predatory high speed trading.

Why is this happening and what are the impacts? Regulatorwatch.com put these questions to executives from Canada’s leading stock exchanges to find out.

Tim Hortons buzz….

 Tim Hortons is the place where the ordinary Falconer meets and chats over a coffee.

Again it's another day at Tim's coffee shop. As Falcon’s drilling programme getting underway, the excited Falconers yet again turn to Jimmy the Geek for answers.

-Hey Jimmy…the analyst consensus having a Buy rating on Falcon Oil & Gas.

  What’s your rating?

-Well boys, what I'm gonna say has nothing to do with rating.

  It’s called advice: Do not sell under $10.00

 Tim Hortons is the place where the ordinary Falconer meets and chats over a coffee.

Again it's another day at Tim's coffee shop. The true Falconers yet again turn to Jimmy the Geek for answers.

-Hey Jimmy...

-I know, I know. Just remember, if you are ready to add more, always buy on the ask side.

 .......................................................................................................................................... 

As usual the true Falconers are in a heated discussion over the dishonest antics used by the greedy faceless-backroom-boys.

And as usual, once again they turn to Jimmy the Greek for advice.

- Hey Jimmy, now that the greedy faceless-backroom-boys forced the share price down to this ridiculously low levels, I have been trying to pick up some shares, but no cigar. Why is that?

-Obviously you are trying to buy on bid side. The backroom-boys put you in the back of the queue. That's how they protect their pool on the ask side. Haven't you noticed that the ask side does't change at all, and yet tens of thousands move to the bid side. And then they move the bid and ask down a notch. However they are counting on your greediness and usualy you do the same. This way they can manipulate the stock price down to the levels that might induce the less knowledgeable investors to sell.

My advice in the scenario like ours is that if you are ready to add more, always buy on the ask side.

-----------------------------------------------------------------------------------------------------------

Just another day at Tim Hortons. Once again the Falcon group is in heated discussion over the dishonest antics used by the greedy faceless-backroom-boys.

One of them says - lets ask Jimmy the Geek, he's a realy smart guy.

- Hey Jimmy what's with those double talking minions across the pond?

- Well guys, as you all know they are FBB employees, masquerading as investors.

  Usually, when an investment becomes more valuable -as just Falcon did - the FBB goes all out and try to take away from the public as much investment as they can getaway with. So, to achieve their goal, they have to create a state of disllusionment, through spreading negativity and it becomes difficult to stay positive about what once gave you hope and joy, and so on. That's what the minions are for, that's their job. Basket of deplorable people.

Now, I don't give a flying fart what they do, I know my investment and I sleep well, and so should you.

 -----------------------------------------------------------------------------------------------------------

 

 Everyone is very cheerful at Tim Hortons and dicussing Tuesday's big news from australia. After a while the subject of discussion drifts towards the greedines of the faceless-backroom-boys.

One of them asks Jimmy the Geek, a pretty bright guy.

-Tell us Jimmy, why do these FBB still pretending as if there were real sellers?

- Because it’s the oldest trick in the toolbox. Old as balls!. And that's not all. The London listing is one tenth of the Toronto listing. Then 5 hours ahead of Toronto they knock the price down with fake trades and wait for Toronto to open. And then Toronto follows suit. The truth is that fakery does not work.

 -And do you guys know why doesn't work? Because the FBB just sticking their heads in the sand and are ignorant enough to believe that the 13,000 smart investors are just plain stupid.

No image? Apparently the manipulators are back. Many thanks to the BackroomBoys to prove just how badly they yearn to possess your Falcon shares. 

So hold and do not selll any of your shares under $4.00

The 13,000 investors are amongst good company!

Rule to long-term investing:

When you find a value stock put it in your portfolio and hold; like Burlingame, like Renova, like Sweetpea, like Persistency, like Nicolas Mathys

When big players are set to acquire a big position in a company, they always employ agents to accumulate the shares on the open market, then months later a transaction will occur between the parties for a healthy profit for the agents. On the other hand the buyer saves a lot of money for not buying it on the open markets.

This is how Burlingame acquired 105,835,269 shares in 2008 and 2009.

Burlingame’s 1st tranche

Burlingame’s 2nd tranche

Burlingame’s 3rd tranche

Burlingame’s 4th tranche

In 2011 Burlingame increased their holding to 125 million shares.

No image? Apparently the manipulators are back. Many thanks to the BackroomBoys to prove just how badly they yearn to possess your Falcon shares. 

So hold and do not selll any of your shares under $4.00

Falcon Oil & Gas Ltd. (LON:FOG) Kyalla 117 N2-1 – Horizonal Drilling Commenced

 abm  December 10, 2019

10 December 2019 – Falcon Oil & Gas Ltd. (TSXV: FO, AIM: FOG) is pleased to announce that drilling of the horizontal section of the Kyalla 117 N2-1H appraisal well in the Beetaloo Sub-Basin, Australia has commenced, along with the advancement of the vertical well evaluation.

 

Drilling of the Kyalla 117 N2-1H horizontal well has commenced

  • The JV has elected to land the horizontal well within the Lower Kyalla shale, at a depth of ~1800mTVD.
  • The horizontal section will be drilled for approximately 1,000-2,000 metres.
  • On completion of drilling, the horizontal section will be fracture stimulated and production tested.

Evaluation of the Kyalla 117 N2-1 vertical well advances

  • Three source rock reservoir (“SRR”) sections are identified within the Kyalla Shale Formation, characterised as the Lower, Middle and Upper Kyalla.
  • The thickness of the entire Kyalla Shale Formation measured almost 900 metres.
  • Gross thickness of each SRR interval is between 75 and 125 metres.
  • Each SRR exhibited elevated gas shows with relatively high C3, C4 and C5 components.
  • Diagnostic fracture injection tests (“DFITs”) were performed on each SRR.

Ongoing analysis of conventional cores acquired in each of the Upper and Lower Kyalla reservoir sections, along with sidewall cores, DFITs and extensive wireline logging, will enable a full-scale evaluation of prospectivity of the Kyalla Formation in the central part of the Beetaloo Sub-Basin.

Philip O’Quigley, CEO of Falcon commented:

“Ongoing evaluation of the of the Kyalla 117 N2-1 vertical appraisal well is very encouraging. The drilling of a 1,000-2,000 metre horizontal well in the Lower Kyalla shale has started and we will continue to update the market as soon as more results become available”.

 

 

 

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