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

Free
Message: House Positions

2021-06-22 06:03 ET - News Release

 

Mr. Philip O'Quigley reports

FALCON OIL & GAS LTD. - COMMENCEMENT OF THE 2021 WORK PROGRAMME - BEETALOO SUB-BASIN

Falcon Oil & Gas Ltd. has commenced the 2021 work program, starting with operations at Kyalla 117 N2-1H ST2 in the Beetaloo subbasin, Northern Territory, Australia, with its joint venture partner, Origin Energy B2 Pty. Ltd., a wholly owned subsidiary of Origin Energy Ltd.

On-site operations at Kyalla 117 have begun, with rigging up now complete and cleanup operations resumed. These operations, if successful, will result in an extended production test (EPT) being carried out to determine the expected longer-term performance of the well.

Further details on the 2021 work program, including proposed activity at Velkerri 76 and Amungee NW-1H, are set out below.

Kyalla 117

Kyalla shale play summary:

  • Liquids-rich gas play, which has only been identified in the joint venture acreage;
  • Material play fairway greater than 3,000 square kilometres with multi trillion-cubic-foot potential;
  • Liquids-rich play with two prospective stacked targets in the gas window and one in the oil window. 

Results to date:

  • As announced on Jan. 19, 2021, Origin submitted a notification of discovery and an initial report of discovery to the Northern Territory government.
  • Unassisted gas flow rates ranging between 400,000 and 600,000 standard cubic feet per day were recorded over 17 hours, which are preliminary indications of well performance, and an EPT is required to determine the longer-term performance of Kyalla 117.

Velkerri 76

Velkerri shale play summary:

  • Largest play fairway in the Beetaloo with four prospective stacked targets;
  • Predominantly dry gas with OGIP (original gas in place) greater than 500 trillion cubic feet;
  • Liquids-rich gas fairways on basin flanks with multitrillion-cubic-foot potential;
  • Multiple successful tests within the dry gas window (Amungee NW-1H, Tanumbrini 1 and Shenandoah 1A). 

2021 work program includes:

  • Targeting the Velkerri play along the southeastern flank of the Beetaloo subbasin, which is predicted to be in a liquids-rich gas window;
  • Drill a vertical pilot well to acquire core, run logs and perform diagnostic fracture injection test data across the Velkerri.

Amungee NW-1H

Results to date:

  • On Dec. 22, 2016, Falcon announced that, following a 57-day EPT of the well, production averaged 1.10 mmscf/d.
  • On Feb. 15, 2017, Falcon announced that Origin had submitted the results of evaluation of the discovery and preliminary estimate of petroleum in place for the Amungee NW-1H Velkerri B shale gas pool to the Northern Territory government amounting to a gross contingent resource of 6.6 tcf, 1.46 tcf net to Falcon. 

2021 work program includes:

  • An extended production test and production log to confirm zonal contribution, that is, determine if all frack stages contributed to the initial EPT conducted in 2016.

Philip O'Quigley, chief executive officer of Falcon, commented: "The commencement of operations at Kyalla 117 is an exciting first step for the planned 2021 work program, which will cover three different plays in the Beetaloo, providing key information that will help determine the future appraisal and development program. We look forward to providing results as soon as they become available."

This announcement has been reviewed by Dr. Gabor Bada, Falcon Oil & Gas's head of technical operations. Dr. Bada obtained his geology degree at the Eotvos L. University in Budapest, Hungary, and his PhD at the Vrije Universiteit Amsterdam, the Netherlands. He is a member of American Association of Petroleum Geologists.

Take away:

Do not sell any of your Falcon shares under $10.00 

Falcon Oil & Gas Ltd.

(“Falcon”)

Gas Composition Data Confirm Kyalla Liquids Rich Gas Play

22 January 2021 - Falcon Oil & Gas Ltd. (TSXV: FO, AIM: FOG) is pleased to announce the following update on the first gas composition data obtained during the 17-hour unassisted flow period of the Kyalla 117 N2-1H ST2 well (“ Kyalla 117 ”) in the Beetaloo Sub-basin, Australia.

The initial analysis of natural gas by gas chromatography confirms a liquids-rich gas stream low in CO as follows:

  • = 65.03 mol%
  • = 18.72 mol%
  • = 8.37 mol%
  • iC = 1.29 mol%
  • nC = 2.03 mol%
  • + = 2.73 mol%
  • CO = 0.91 mol%
  • = 0.92 mol%

The elevated C + gas component of 14.42 mol%, which meets our pre-drill expectations, confirms the Lower Kyalla Shale as a liquids-rich gas play. Gas composition data also support the view that the Kyalla gas stream will have elevated LPG and condensate yields.

As announced on 19 January 2021, longer term measures will be put in place to flow back sufficient hydraulic fracture stimulation water to allow the Kyalla 117 to flow continually without assistance. This work is expected to commence at the start of the dry season in Q2 2021 and if successful will allow an extended production test ("EPT") of between 60 and 90 days to commence.

Philip O’Quigley (CEO of Falcon) commented:

“The initial gas composition data are very encouraging providing a strong indication for the liquids rich gas play in the Kyalla formation. We will update the market when operations recommence at Kyalla 117 at the beginning of the dry season in Q2 2021.”

The Beetaloo Strategic Basin Plan released as part of the gas-fired economic recovery

https://falconoilandgas.com/company-presentations/#1541158622782-52acf8a2-2f7f

Do not sell any of your Falcon shares under $10.00 

Prior to the 2019-10-09 Falcon announcement The Backroom Boys with other parties of interest suppressed all information from australia, just to get their grubby fingers on your shares.By now, you would think that they would turn over a new leaf and stop manipulating the stock with fake trades.

No, I did not moved or delated any images. Draw your own conclusions.

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 $10.00

The heat is on!

Do not sell your shares under $10.00

Falcon Oil & Gas Ltd. - Successful Drilling of Kyalla 117 N2-1H ST2 Horizontal Well

Sooo.. If you Boys want our shares you can start paying $10.00 

Are you suprised ? I don't think you are...  The Wrecking Boys are back!  And they failed again!

Today's designated hitters: Every Tom, Dick and Harry . 

Kudos to Falcon's long-term shareholders for not falling for the latest backroom shenanigens.

House Positions for C:FO from 2021-06-23 to 2021-06-23

Red indicates the top backscratching, churning collaborators. 

House

Bought

$Val

Ave

Sold

$Val

Ave

Net

$Net

2 RBC

478,500

51,880

0.108

22,000

2,430

0.11

456,500

-49,450

88 Credential

45,000

4,725

0.105

0

 

 

45,000

-4,725

9 BMO Nesbitt

20,000

2,200

0.11

0

 

 

20,000

-2,200

80 National Bank

11,500

1,210

0.105

1,000

115

0.115

10,500

-1,095

59 PI

1,020

112

0.11

0

 

 

1,020

-112

79 CIBC

4,500

472

0.105

7,000

805

0.115

-2,500

333

124 Questrade

0

 

 

6,000

660

0.11

-6,000

660

53 Morgan Stanley

0

 

 

16,620

1,758

0.106

-16,620

1,758

19 Desjardins

0

 

 

20,000

2,200

0.11

-20,000

2,200

7 TD Sec

0

 

 

71,000

7,970

0.112

-71,000

7,970

90 Barclays

0

 

 

130,000

13,650

0.105

-130,000

13,650

1 Anonymous

500

52

0.104

287,400

31,064

0.108

-286,900

31,012

TOTAL

561,020

60,651

0.108

561,020

60,652

0.108

0

1

So hold and do not sell any of your shares under $10.00 

Missing images? Apparently the manipulators are back. Many thanks to the BackroomBoys to prove just how badly they yearn to possess your Falcon shares. 

.

 

 

Share
New Message
Please login to post a reply