<"This remind me the 2005-2007 situation in Hungary. Falcon drilled 6 deep wells, for natural gas, what supposed to be there, in South Hungary (5000-6000 meters deep) before the Exxon deal came up. These wells were very expensive 50-60 million $ at that time, without any "positive outcome" (in the end they could not come up with the gas as they hoped for)">
As I've indicated before, I'm actually very optimistic about Beetaloo, and feel that it could potentially be a world-class basin some day.
However, what the whole Hungary situation should've told Falcon investors is that it's not enough to just simply have the "resource". It's important, obviously, but it's not enough.
They need to show economically viable FLOW RATES to justify larger scale commercial development,... something they have not yet done on any of their properties
It's disappointing to see that this critically important information probably won't be coming for quite a long time. Yes, other info can be gathered, studied in the lab, modeled on computers, etc., so we'll see how that goes. However, it's not the same as actual 'real-world' performance from a well.
So basically, ...a lot more patience is required.
just my opinion
