Falcon Oil & Gas Ltd V.FO

Beetaloo work program

[hikari]

Origin Energy, the lame operator, woke up again and has sent the Beetaloo work program to Falcon:

The 2021 work programme is expected to include the following:

• Resume clean-up operations of Kyalla 117 N2-1H ST2 (“ Kyalla 117 ”) and commence an extended production test (“ EPT ”)
• Drill Velkerri 76 S2-1 vertical well (“ Velkerri 76 ”)
• Perform a production test at Amungee NW 1H

https://stockhouse.com/news/press-releases/2021/03/19/falcon-oil-gas-ltd-planned-2021-work-programme-beetaloo-sub-basin

Obviously the market is not impressed and  the reaction of the market did not show any higher share prices for Falcon. The government promised some short term  subsidies for E&P work in the Beetaloo, that means some parts for the bills for the production test at Kyalla, for the production test at the Amungee and for the drilling of Velkerri will be sponsored by the government. But the biggest problem: Origin and Falcon have not cracked the code, have not discovered the sweet spots of the Beetaloo and are still struggling to prove commercially for this asset.

 

[maidenmist]

What a dud this stock is. Came into only to see if a dude name Ollie still posting on here. Big cheer leader back in to 2008 try I g to pump this stock. Only one yet to g rich on this is the Ceo fro. Ireland

[maidenmist]

As was the case back In 2008 with all that fracking you g on in Hungury. This company is a dud. So glad ive been removed from this stock for well over 13 years. Feels good. Wonder if Ollie still around pumping this stock