This question is for any US investors that also have investments in Falcon Oil & Gas Australia Limited (a non-listed stock offering specific to Falcon Oil & Gas Australia; not the parent company). These investments are held in an IRA account, so I may have to direct my question directly to Falcon Australia Investor Relations. But before then, has anyone had to file tax returns to claim UBTI on IRS Form 990-T for any of the tax years 2009 through 2015?

Thank you in advance.

The following message was posted by Marshmill on the lse forum (the report is a great find):

This paper gives the results of Origin's drilling campaign 2015

Unconventional gas potential in Proterozoic source rocks: Exploring the Beetaloo Sub-basin

http://www.geoscience.nt.gov.au/gemis/ntgsjspui/bitstream/1/82730/1/AGES2016_Close_et_al.pdf

Origin acquired extensive wireline data, sidewall core and full core data in addition to undertaking real-time geochemical analysis of cuttings while drilling. These results indicate reservoir intervals contain gas-saturated, quartz-rich source rocks that are mature for gas over extensive areas, providing an excellent exploration target with material volumetric upside. Additional information from acquisition of pressured sidewall cores and diagnostic fracture injectivity tests (DFIT) complemented the reservoir assessment, yielding accurate data on gas composition, saturation and an estimate of pore pressure.


Results of the wells are positive and encouraging gas-in-place metrics were observed; however, substantial further work is required to continue to assess the key risk of delivering commercial flow rates from multi-stage fracture stimulated horizontal wells.

CEO Philip O'Quigley talks about this very subject of a potential exit strategy in this video interview that was posted back in July 30, 2014 (starting at 12:40). I'll repost for those who have not seen it (a very informative interview, I might add):

Malcolm Graham-Wood Interview with the CEO of Falcon Oil and Gas, Philip O'Quigley

I was able to squeeze an additional 50K shares a couple weeks ago at a most favorable price. We've all been "cutting bait" for a long time now. Let the derby begin!!!

More of the same about what we already know, but coming from Bloomberg Businessweek and worth the read. Any and all attention Falcon can get is one rotation closer to grabbing the brass ring...

Falcon Oil CEO Expects South Africa Shale Permit in Second Half