"What is different this time/". Varang is a very significant difference. Varang phase 1 first frac increases revenues every 28 days by......$168,000.00..... 120bblspd at $50. Varang phase 1 second frac increases revenues every 28 days by.......$???,000.00 .....???? bblsopd at $50. Varang is out knight in shinning armour!!
Dont be intimidated by Nicandros and his entourage. They will probably be exceptionally friendly and welcoming to you but try not to forget that these individuals have treated shareholders with utter contempt over many years.
Reading back through RNS, Nicandros has been promising game changing results for at least 5 years and with the benefit of hindsight, I am now extremely sceptical about their forecasts and projections.
Exactly five years ago, on 28th June 2011 Nicandros said: "The addition of significant new capital resources and the simultaneous restructuring of the Company's outstanding debt represents an important milestone in Frontera's growth plans. This transaction will simplify and strengthen our balance sheet and will greatly enhance Frontera's operating and financial flexibility. As a result, we will be well positioned to realise value from significantly advancing the next phase of continued investment in our work programs that are aimed at increasing oil and gas production and associated reserve bookings."
I think you should remind him of this and the many other similar euphoric and optimistic projections over the years and ask him whats different this time?
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