You Know What This Means! It means this stock is ready for prime time! Do not sell any of your shares! 

2024-09-03 02:00 ET - News Release

FALCON OIL & GAS LTD.

(“Falcon” or the “Company”)

Falcon Announces Planned Share Consolidation and Name Change to pursue U.S. Listing

3 September 2024 - Falcon Oil & Gas Ltd. (TSXV: FO, AIM: FOG) is pleased to announce that it plans to change its corporate name to “Beetaloo Resources Corp.” (the “Name Change”) and to consolidate its share capital on the basis of up to two hundred and fifty (250) pre-consolidation common shares for each one (1) post-consolidation common share (the “Consolidation”). The Name Change and Consolidation are subject to shareholder approval being obtained at a special meeting of shareholders to be held on 29 October 2024 and all necessary regulatory approvals including the approval of TSX Venture Exchange and AIM.

The Company wishes to proceed with the Consolidation in order to pursue a listing on a U.S. stock exchange during H1 2025, which is expected to expand awareness of the Company among U.S. based investors and potentially provide the Company with additional sources of capital. In conjunction with the Consolidation, the Company plans to complete the Name Change in order to align the Company’s name with its strategic focus on appraisal and development activities in the Beetaloo Sub-basin, Northern Territory, Australia.

The Company currently has 1,109,141,512 issued and outstanding Common Shares. In the event that the Consolidation is completed, for example on a two hundred and fifty (250) to one (1) basis, the Company would have approximately 4,436,566 common shares outstanding following the Consolidation. In addition, the exercise price and number of common shares issuable upon the exercise of any convertible securities would be proportionally adjusted upon the implementation of the Consolidation. Subject to obtaining all necessary approvals, the Consolidation would occur at a time and exchange ratio to be determined by the Board of Directors of the Company.

Further details regarding the Consolidation and Name Change will be provided at a later date.

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Falcon Oil spuds Shenandoah South 2H well in Australia

2024-08-30 11:01 ET - News Release

Mr. Philip O'Quigley reports

SPUDDING OF SHENANDOAH SOUTH 2H IN EXPLORATION PERMIT 98

Falcon Oil & Gas Ltd. has begun the 2024 drilling program with the spudding of the Shenandoah South 2H (SS2H) horizontal well on exploration permit 98 in the Beetaloo subbasin, Northern Territory, Australia, with Falcon Oil & Gas Australia Ltd.'s joint venture partner, Tamboran (B2) Pty. Ltd.

Following the drilling of the SS2H well, Tamboran B2 will immediately move to the Shenandoah South 3H (SS3H) well off the same well pad location ahead of the stimulation program.

Both wells will be drilled with an H&P superspec FlexRig Flex 3 rig and will include a horizontal section of approximately 3,000 metres and will target the Amungee Member B shale at an estimated target depth of 3,020 metres. Each well is expected to be drilled in 30 days.

The wells will be stimulated with up to 60 stages utilizing the Liberty Energy modern frac fleet currently being mobilized from the United States to Australia. The increased efficiency and performance of the Liberty fleet is expected to result in a material increase in the completed stages per day and optimized gas flows.

Initial flow test results from each well are expected in the first quarter of 2025. Once flow testing is complete, both wells will be suspended as future producers to supply the proposed 40-million-cubic-feet-per-day (MMcf/d) Shenandoah South pilot project, which is expected to commence production in H1 2026, subject to final stakeholder and regulatory approvals.

The two-well program will be the largest single campaign in the Beetaloo subbasin to date. An additional four-well program is planned for 2025, which will complete the drilling for the proposed Shenandoah South pilot project that will supply 40 MMcf/d to the Northern Territory government.

Falcon Australia will participate in both wells in the Shenandoah South pilot project at its elected participating interest of 5 per cent.

Philip O'Quigley, chief executive officer of Falcon, commented: "The spudding of the SS2H horizontal well, which is the first of the planned two horizontal wells to be drilled in 2024, is an exciting next step in the development of the Beetaloo subbasin. Following on from the success of the Shenandoah South 1H well announced earlier this year, and using the same drilling company, H&P, together with the arrival of the Liberty frac fleet, capable of materially increasing the stimulation intensity, we are really excited about being able to demonstrate the deliverability of the Amungee Member B shale over 3,000-metre horizonal sections."

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2024-03-26 09:25 ET - News Release 

Mr. Philip O'Quigley reports

FALCON OIL & GAS LTD - SHENANDOAH SOUTH - 1H WELL IP60 DAY FLOW RATES OF 3.0 MMCF/D (NORMALISED TO 6.0 MMCF/D)

Falcon Oil & Gas Ltd.'s Shenandoah South 1H (SS-1H) well in EP117 has achieved above commercial IP60 flow rate of three million cubic feet/day (normalized to six MMcf/d over 1,000 metres).

Highlights are as follows: 

• The SS-1H well in EP117 achieved an average 60-day initial production (IP60) flow rate of 3.0 million cubic feet per day (MMcf/d) over the 1,644-foot (501 metres), 10 stage stimulated length within the Amungee Member B-Shale, normalized to 6.0 MMcf/d over 3,281-feet (1,000 metres).
• Exit rate trajectory after the 60 days of flow testing showed a steady low declining curve at 2.76 MMcf/d over the stimulated length (normalized at 5.52 MMcf/d per 3,281 feet) and stable reservoir back pressure of 530 psi.
• The SS-1H IP60 flow test indicates that future development wells with lateral length of 10,000-foot (3,000 metres) may be capable of delivering average rates of 18.4 MMcf/d over the first 60 days of production.
• Results to date confirm that this region measuring more than 1 million gross acres below 8,850 feet (2,700 metres) is one of the best locations in the Beetaloo Basin to commence pilot development activities.
• Flow testing of the SS-1H well will continue for the next 30 days to achieve average IP90 flow rates to better determine the well's estimated ultimate recovery per well (EUR). IP90 flow rate results are expected to be announced in late April 2024.
• The Beetaloo JV Partners of Falcon and Tamboran B2 Pty Limited will continue to progress development plans for the proposed 40 MMcf/d Pilot Project at the Shenandoah South location. The project is expected to require six 10,000-foot development wells initially to achieve plateau production of 40 MMcf/d. Drilling of the first of these wells is planned to commence in Q2 2024 and the JV is targeting first gas in H1 2026.
• At the end of February 2024, Falcon held ~US$5 million in cash and has the benefit of a further A$16.67 million gross (~US$2.5 million net Falcon) carry to support immediate activities.
• Falcon is funded to commence drilling of the initial two wells in the program and will evaluate opportunities to support funding the remaining capital commitments to reach first production, including issuance of equity and/or debt, evaluation of pre-payment for gas from the proposed pilot project and potential farm-down opportunities. 

Philip O'Quigley, CEO of Falcon commented:

"The SS-1H IP60 flow rate announced today of 3.0 MMcf/d, normalized to 6.0 MMcf/d over 1,000 metres, demonstrates a steady low declining curve while holding its downhole pressure. This augurs well for the initial development in the Shenandoah South area as these rates continue to track average flow rates seen in the Marcellus Shale basin in the US."

This announcement has been reviewed by Dr. Gabor Bada, Falcon Oil & Gas Ltd's Technical Advisor. 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 AAPG.

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. Falcon Oil & Gas Ltd is incorporated in British Columbia, Canada and headquartered in Dublin, Ireland.. 

Falcon Oil & Gas Australia Limited is a c. 98% subsidiary of Falcon Oil & Gas Ltd.

Takeaway:These are exellent result. Therefore now more so than ever follow these instuctions: Put your shares in the Vault! Quadruple spin that dial to the left then again to the right! 

I reiterate  that "Do not sell any of your shares for less than $10.00"

2024-04-23 02:00 ET - News Release 

Falcon Oil & Gas Ltd.
(“Falcon”)

Binding Term Sheet for Gas Sales Agreement to supply pilot gas to the Northern Territory Government

23 April 2024 - Falcon Oil & Gas Ltd. (TSXV: FO, AIM: FOG) is pleased to announce that the Beetaloo Joint venture (BJV) has signed a Binding Agreement for a long-term Gas Sales Agreement (GSA) to supply the Northern Territory Government (Buyer) with 14.6 PJ (13.8 BCF) per annum from the proposed Shenandoah South Pilot Project for an initial term of nine years, with a Buyer’s option to extend for a further six-and-a-half years.

Details of the Binding Agreement are as follows:

• Gas will be delivered to the APA-owned Amadeus Gas Pipeline (AGP) on a take-or-pay basis at a market-competitive gas price, escalating at 100% of the Consumer Price Index (CPI). The Buyer’s extension option is at a slightly discounted price.
• The Agreement is a binding supply commitment conditional on the BJV entering into a binding Gas Transportation Agreement with APA on the proposed Sturt Plateau Pipeline, a binding Gas Processing Agreement for the proposed Sturt Plateau Compression Facility, reaching a Final Investment Decision (FID) on upstream drilling activity and receiving all necessary approvals to proceed with these projects.
• The BJV is targeting FID on the proposed 40 TJ (38,000 MCF/D) per day upstream drilling program in mid-2024, subject to securing funding and key regulatory and stakeholder approvals. First gas flow is planned for H1 2026.
• Falcon Oil & Gas Australia Limited holds a 5% working interest in the 51,200-acre area that will include the wells required to deliver the proposed Pilot Project volumes.

Philip O’Quigley, CEO of Falcon commented:
“This is a significant development for Beetaloo Joint Venture, and represents a major milestone and puts the Beetaloo Joint Venture on a path where revenue from gas sales will support funding our future development phases, including supply to the East Coast and LNG gas markets.”

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"A hazug embert könnyebb utolérni, mint a sánta kutyát" - Hungarian proverb.

Backroom Boys! You just don't get it!

In an honest world this stock would be trading at least $1.00

I'm extremely happy with the results. Please watch Mr. Philip O'Quigley's video podcast.

https://youtu.be/y1JFnTV-inc?si=6TPawZ8cQoIFQ6If

Falcon Oil's SS-1H reaches 3.2 mmcfpd IP30 flow rate

 2024-02-26 09:49 ET - News Release

Mr. Philip O'Quigley reports

FALCON OIL & GAS LTD. - STELLAR IP30 DAY FLOW RATES ADVANCES THE BEETALOO TO PILOT DEVELOPMENT

Falcon Oil & Gas Ltd.'s Shenandoah South 1H (SS-1H) well in EP117 has achieved commercial IP30 flow rate of 3.2 million cubic feet per day (normalized to 6.4 million cubic feet per day over 1,000 metres), significantly higher than predrill expectations.

Highlights are as follows:

The SS-1H well in EP 117 achieved an average 30-day initial production (IP30) flow rate of 3.2 million cubic feet per day (million cubic feet per day) over the 1,644-foot (501 metres), 10 stage stimulated length within the Amungee Member B-Shale, normalised to 6.4 million cubic feet per day over 3,281-feet (1,000 metres).

Results from the SS-1H well significantly exceeded pre-drill expectations and achieved what Falcon and its partners believe to be above the commercial threshold required to progress the Beetaloo to pilot development during 2024, subject to funding and key stakeholder approvals.

Exit rate trajectory after the 30 days of flow testing showed a steady low declining curve at 2.9 million cubic feet per day over the stimulated length (normalised at 5.8 million cubic feet per day per 3,281 feet) and stable reservoir back pressure of 575 psi.

The IP30 flow test extrapolates to ~19.5 million cubic feet per day for proposed future 10,000-foot (3,000 metres) development wells, in line with some of the highest flow rates achieved in the US Marcellus shale.

The geological rock properties at SS1-H, indicative of favourable well performance, met or exceed that of the US Marcellus shale, including reservoir pressure, effective porosity and gas-in-place. This creates the potential to result in long-term, low decline gas production, ultimately leading to very significant estimated ultimate recovery per well (EUR).

Results to date confirm that this region measuring more than 1 million gross acres below 8,850 feet (2,700 metres) is one of the best locations in the Beetaloo Basin to commence pilot development activities.

Flow testing of the SS-1H well will continue for the next 60 days to achieve average IP90 flow rates to better determine the well's EUR. IP90 flow rate results are expected to be announced in April 2024.

The Beetaloo JV Partners of Falcon and Tamboran B2 Pty Limited will now progress development plans for the proposed 40 million cubic feet per day Pilot Project at the Shenandoah South location. The project is expected to require six 10,000-foot development wells initially to achieve plateau production of 40 million cubic feet per day. Drilling of the first of these wells is planned to commence in Q2 2024 and the JV is targeting first gas in H1 2026.

At the end of January 2024, Falcon held ~US$5 million in cash and has the benefit of a further A$16.67 million gross (~US$2.5 million net Falcon) carry to support immediate activities.

Falcon is funded to commence drilling of the initial two wells in the program and will evaluate opportunities to support funding the remaining capital commitments to reach first production, including issuance of equity and/or debt, evaluation of pre-payment for gas from the proposed pilot project and potential farm-down opportunities.

Philip O'Quigley, CEO of Falcon commented: "The IP30 flow rate announced today of 3.2 million cubic feet per day, normalised to 6.4 million cubic feet per day over 1,000 metres, are truly stellar and mark a major turning point in the Beetaloo Basin. Not only did the results exceed Falcon's pre-drill commercial threshold of a normalised flow rate of 3 million cubic feet per day by more than 100% but the geological properties evidenced in this part of the Basin, including reservoir pressure, effective porosity and gas-in-place all point towards the significant resource potential of the Basin. We will continue flow testing the well for the next 60 days to achieve an IP90 flow rate which will better determine what that resource potential is. We can now look forward with confidence to commencing the proposed 40 million cubic feet per day pilot development project which will start with the drilling of the first of six 10,000 ft development wells in Q2 2024, subject to stakeholder approval and funding, and look forward to updating the market as those plans begin to materialise."

Shenandoah South 1H flow results

The SS-1H well in permit EP 117 successfully achieved IP30 flow rates following the 10-stage stimulation program within the bottom 501 metres (1,644 ft) of the 1,020-metre (3,346 ft) lateral section in the Amungee Member B- Shale (depth of c. 9,957ft). The fracture stages had an average interval spacing of 50 metre (164ft) and the average proppant concentrations of 2,212 lbs/ft across the 10 main stages with a total of over 3.5 million pounds of sand placed.

Testing was carried out following the installation of production tubing and a three-week soaking period to allow for water used in the stimulation process to be absorbed by the shale. The soaking aims to increase the relative permeability to gas of the formation and enhance production performance.

During the initial draw down period from 25 January to 08 February (13.3 days) the choke was opened from 16/64 to 40/64 over staged intervals resulting in gas rates from 12.9 million cubic feet per day to 3.0 million cubic feet per day, with flowing wellhead pressures drawn down from 4,611 to 792 psi. During the subsequent flowing period from 08 Feb - 24 Feb (16.7 days) the choke was opened up to 43/64 at the beginning of the period, resulting in gas rates from 3.3 to 2.9 million cubic feet per day, with an average of 3.0 million cubic feet per day with flowing wellhead pressures drawn down from 792 to 578 psi. Total cumulative gas production during the IP30 test was 92.2 MMcf.

The well achieved an IP30 flow rate of 3.2 million cubic feet per day over the 501 metres (1,644 ft), normalised to 6.4 million cubic feet per day over 1,000 metres (3,481 ft), and 19.5 million cubic feet per day over 3,048 metres (10,000 ft) significantly exceeding Falcon's normalised pre-drill expectations and Falcon's estimated Beetaloo Basin commerciality threshold.

The SS-1H has demonstrated that the geological rock properties, indicative of favourable well performance, met or exceed the US Marcellus shale (incl. reservoir pressure, effective porosity and gas in place). The analysis of the gas recovered at SS-1H confirms that it is Dry Gas with the following composition (mole %): Methane 91.7, Ethane 2.8 and CO2 3.4. Flow testing has demonstrated pore pressure gradient of ~0.6 psi/ft, resulting in higher reservoir pressure at Shenandoah compared to all other Basin wells.

The SS-1H IP30 flow rate delivered the highest normalised rates achieved in the Beetaloo Basin to date, exceeding the previous normalised IP30 record achieved by the Tanumbirini 3H well in the Santos-operated EP 161 acreage in 2022. The SS-1H result continues to demonstrate that the deepest regions of the basin have the most consistent geology and deliver the highest flow rates and recoverable volumes. The SS-1H IP30 flow rate extrapolated over 10,000ft (3,048m) of 19.5 million cubic feet per day compares very favourably with the average US Marcellus Type Well.

Pilot Development Program

The results from the SS-1H well give the Beetaloo JV confidence to progress to the proposed 40 million cubic feet per day Pilot Project 9 million cubic feet per day net Falcon) in the Shenandoah South region. The JV is targeting first production from the project in H1 2026, which is expected to deliver volumes into the Northern Territory gas market over a 10-year plateau period, subject to completion of a binding Gas Sales Agreement, funding and key stakeholder approvals.

The program is expected to include six development wells drilled to 10,000 feet to achieve plateau production, the construction of the 40 million cubic feet per day Sturt Plateau Compression Facility (SPCF) and the 35-kilometre Sturt Plateau Pipeline (SPP) connecting the SPCF to the APA-owned Amadeus Gas Pipeline. Additional wells will be required over the project life, which are expected to be funded from future project cash flow.

Liberty Energy Inc (NYSE: LBRT), a leading North American energy services firm with significant operational and subsurface engineering expertise, plans to import a modern frac fleet into the Beetaloo Basin in 2024 to support the Shenandoah South Pilot Programme stimulation campaign. Liberty plans to dedicate a frac fleet and crew to the Beetaloo to reduce any potential for delays in mobilising equipment to site and increasing completion efficiencies while reducing costs of future stimulation programs. Liberty's presence in the Basin follows on from the previously announced similar arrangement with Helmerich and Payne (H&P), the largest drilling solutions provider in the US, whereby H&P imported a 2,000HP rig into the Beetaloo, which is expected to support a material reduction in drilling times and costs.

This announcement has been reviewed by Dr. Gabor Bada, Falcon Oil & Gas Ltd's Technical Advisor. 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 AAPG.

Takeaway:These are exellent result. Therefore now more so than ever follow these instuctions: Put your shares in the Vault! Quadruple spin that dial to the left then again to the right! 

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

You are in good company.

Keep in mind:

Vested interest... 

 Toronto, finacial hub of Canada. The Exchange Tower, 36 storey high, dwarfed by nearby skyscrapers. The TSX located on the third floor. Hundreds of market makers busily working at their stations. A gofer rushing  through the complex with an oversized box of Tim Horton donuts, a special delivery to the "Backroom" where the Backroom Boys plotting their moves. As soon as the gofer left the room the boys attacked the box of donuts, in the frenzy no one noticed the fat fly nonchalantly flew out the box and settled on the wall.

Suddenly the backroom head honcho walks in, he looks very angry. He looked angrier than Trump did on wendesday.

-We should fire you all. We did everything for you, we setup everything for you, With the help of other interested parties, we supressed all informations coming out of australia, All you had to do is just screw the little investors. But no, you didn't deliver. You..you... you... you are schmendricks!!!

Then ...the head hocho stormed out

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It is a luxurious alpine retreat in the Swiss mountains. A man standing at the window looking at the mountain peaks in the distance.

Another man, older, sits in a Wingback leather chair.The two men, both billionaires, are friends. The older man is the founder of Falcon Oil and Gas. The man at the window is Falcon’s largest shareholder.

The fly perches on the leather chair behind the elderly man’s head.

“A penny for your thoughts, Victor” says the old man. “You sure look distracted today.”

“Oh, I’m more than distracted, Mark. I’m done right annoyed.”

“Annoyed with what?” says the old man.

“With these long-term investors. No matter what we’re throwing at them, they just aren’t selling. ”

“Well Victor, we did everything within our power, like creating the AIM Listing for the sole purpose of shepherding Falcon’s stock price in Toronto. But that doesn’t work. You can’t move a battleship with a fishing boat. Our friends the market agents can’t get the job done either. Churning is a zero sum game. I think those long-term investor are determined to hold, and you better get used to it. Besides, you just picked up 38 million shares for 0.207 cents and I believe that was a steal. “

“Yeah I know Mark. Except I can’t get used to the idea rubbing shoulders with 13,000 new millionaires. “

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The Exchange Tower is a 36 storey tower. The elevator stops on the third floor, as the elevator door opens the fly quickly escapes from the confinement into the half acre office complex, home to hundreds of Market Makers. Immediately the fly makes a beeline through an open door for the donuts on the sideboard. This room is no ordinary room. This room is the fabled ‘back-room’ where only a select few, to the outside world Faceless-Backroom-Boys ply their trade.

The meeting is over, a dozen or so FBB’s about to leave the room, just then the chief FBB calls back his number one FBB.

“ Number One, give me the year to date report on our Cinderella stock Falcon. You should know that our biggest investors are getting impatient.”

“Well Chief, which one do you want to hear first, the good news or the bad news?”

“Ok, give me the bad news first.”

“I have to tell you up front that we’re using every available tool in the toolbox but the result is still the same as it was all of last year, no one is selling. Hence we have to prime the sluice; consequently we end up hemorrhaging our pool of shares to smart long-term investors.”

“Look Number One, I don’t want to hear about smart investors, just use our double talking minions and find more tools in that toolbox and get results. Our purpose is to profit, so screw the public. We’re the market makers, and that’s what we do.”

“More like Robber Barons”

“I hope that was just a tongue in cheek remark, not some sort of guilt trip.”

“Of course not”

“Ok Number One. So what’s the good news?”

“Just picked up some more Falcon in my private account”

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Same city, Toronto, also known as The Big Smoke. Same Exchange Tower, 36 storey high. Same half acre office complex on the third floor, home to hundreds of Market Makers. Same special ‘back-room’ where Faceless-Backroom-Boys ply their trade.

However, the time is 6 months later and the donuts on the sideboard was freshly delivered from Tim Hortons. So was the Fly in that same box.

The Chief FBB has a visitor, a CEO from a large capital investment firm.

“ What’s the status of my 50 million shares order of Falcon I placed last year, Chief?”

“ I’m sorry to say, but there isn’t any for you. Neither to anyone.” says the chief.

“ Explain, how’s that possible?”

“Let me ask you first, what’s the reason you are so keen to get 50 million shares of Falcon?”

“ Well, Falcon has 200 TCF of gas and 21 billion barrels of oil assets in Australia and Hungary. So, when it’s becomes proven, we’re talking 300 billion dollars value at minimum. Am I right, Chief?”

“So then, in your answer lies the explanation. When Falcon’s play becomes proven, Falcon itself will be worth 100 billion dollars. This fact and the fact that Falcon’s 4 largest investors own about 430 million shares of Falcon haven’t been lost on the other 13,000 long term investors.”

“ So you are saying that I’m out of luck. So then tell me what would I have to pay if I want to fill my order in the coming week?”

“North of 3 dollars and I’ll gladly accommodate you.”

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Target Price $10.00+++

Present non-backroom value is $10.00.

There are 13,000 long-term investors following this Forum. And this fact, as a matter of course bothers the backroom boys.

We, the 13,000 long-term investors holding stronger than ever. Like Renova..like Burlingame...like Persistency.. like Sweetpea...like Nicolas Mathys

You can find me on this chart, I'm one of the 13,000.

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

You are in very good company.