Nice post - recommended. Just one thing... "The CPR although not yet commissioned seems to be near enough on track."
Given the reluctance to release news, the MKGC CPR could be underway already. If they stuck to the timeframe in the Sept 15th RNS for CPR commencement, and it did in fact only take a month we could literally have a CPR RNS at any time. Optimistic? Yes, but not completely insane....
The Sept 15th RNS (Sept being in Q4) seems pretty explicit that it WILL be happening sooner rather than later. Look at the use of the word NOW; both explicit and authoritative: "Independent assessment of Frontera's internal estimates will now commence during the fourth quarter of 2014."
I would be a nervous wreck if I was out of FRR right now.
Have to say I have had a few beers tonight but I really do get hacked off with people who invest in oil and exploration outfits and take a short term view. Having been here in a very big way for 5 years - with no great current concerns - there is a fundamental need to understand what O & G is all about. It is certainly not about the short term, and it is certainly not about 25 or 50% gains. When they work these these are multiple plays - and a basic understanding of risk/reward factors is pretty fundamental. Maybe not for everyone but try to understand the basics please
Many believe we will not get a CPR until Q1 next year which might be the case.
Having said the above, we have not as of yet had an update relating to the CPR which is due to be completed this year. Confirmation of the CPR being completed this year will have a profound effect on the sp and we will see a nice build up to its release and possibly an explosion should it increase our resources
When Well 32 was completed, it accompanied an announcement of a massive increase in reserves. The 9 tcf recoverable is what gave us the spike.
I am fairly sure they will not announce any further increase in reserves. From a reputation management perspective, it may harm their credibility in the field of geology, if they keep changing their mind on gas reserves.
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