"Our December programme represents another important step in the continuation of our evolving well stimulation work. Our work at the Udabno#2 well is particularly important, as we plan to undertake a testing program that is designed to evaluate an extensive gas-bearing interval of approximately 2,000 meters in gross thickness.
The Company expects that this program will lead to an increased production of oil and gas and, as such, will result in increased revenue from exploration related pilot production programs for oil and gas.
"As Frontera continues to advance its exciting work programmes at the Mtsare Khevi Gas Complex and Taribani Field, we remain focused to continue to increase production from these assets throughout the remainder of this year with our continued investments. Through this on-going investment in our operations, we are uniquely positioned to harvest accelerated near term value from the significant potential that our historical investments have identified." I look forward to communicating results in the weeks and months ahead. P.S. We need to issue shed loads of more shares to keep the lights on as I can't be bovvered to sell any of the products from this historical spending spree."
The irony of that last cut n paste snippet is that he was talking near term value in the 6th May 2015 RNS where it came from!!
Not often I disagree with you but the O&G cares no hoots for SN but if their is commercial quantities at low extraction cost then they will buy into Georgia and ley FRR go off and do new prospecting in Ukraine and Georgia. Their is no morals these day where $$$$$ are involved. So funding is there just that FRR have to prove they have the goods in an environment the majors can work in (political stability).
We should assume the work has at least started this month unless we hear otherwise. I'm assuming we won't get news before 12th. Perhaps that's why Outrider wanted an extension to see if FRR are hitting stated targets which might alter their stance. Although the cases are about the past if FRR is generating around $3m/month Outrider may try and play hard ball. All speculation. 2 weeks and hopefully things should be getting clearer.
If you check on the new website and go to the link 'drill webcams' you can see the drilling has been progressing well for days. Lots of activity. Very exiting. Just wish I knew what those blue barrels were for. IG
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