Good to hear, but as it should take 15 days I was hoping that for once they could have started early in the month and would be close to over by now . Good news but as always FRR timetable is on T-plus a lot of time .
Cant get past this first page; I'm not going to pay the subscription to get into the actual article but slightly odd that it's reported as news on 19th August. They reported gas production bang on the money of the 20th June when the ceremony took place etc etc. They are either slow to respond to the MK drilling RNS news of 9th July, or genuinely have info that drilling started 2 days ago.
Revenue will probably be inline with the previous few years at h1 as oil production is at about 200bopd and hasn't changed much. So am expecting $3m or thereabouts . But I would like to see the receivables increase to reflect gas production , I doubt they will be booked as revenue already due to the way I assume it will take to get paid , probably on 3 months invoicing cycle . That would stop all the sales vs production issue. So the gas figure is the only figure that will interest me . We know the debt figure . We know we will have a loss . So I am not really that interested in the h1 RNS other than to see Gas first figures being accounted for .
The 2 pieces of news I am hoping are imminent ( based on previous RNSs) are the 400m drill ( should take 15 days and started in August ) and the news of increased oil production from fracking ( which should have started in May !!! )
Those 2 are my first hard facts that I want to be good . Then Verang deal ratification as that unlocks a lot of potential revenue and therefore profitability in 2015 guaranteed .
Good evening mate hope all is well with you :) Apologies but I must stop laughing as were you not the very same Dougal constantly banging on about "Infrastructure, LPG, Georgian Co-investment fund, FRR are going places.... etc" so why now the negative spin? I take it you have moved on to pastures greener? Always good to hear from you ;) VW
If we do it will only be a small one , and i for one am not worried about it, SN has been using his own money to help keep the company going this is his baby and i believe closing in on the end game, how ever i do believe the board have made mistakes but also been rather unlucky too, i.e. how could they spend so much money but end up with such a small market cap ? in some ways this could be a blessing to all new shareholders, i am more than happy with my position here even though it is a complete gamble. I think our expenditure for 2015 will go down and i don't think we will be doing much our selves in the way off drilling, the hard work as all been done, i.e. main corrected to the grid. 32a is being drilled and once corrected will prove up yet more of the field, the Mtsare Khevi Gas Complex, is going to become a very valuable asset . if we can prove up possibly 42 billion cubic metres , approx 1.5 trillion cubic feet of gas, this will be huge , considering such a find is so close to infrastructure . i am becoming increasingly up beat. RNS 6th of june stated results of mini fracs increasing production 2 bopd - 21 bopd over a 40 day period does fill me with confidence and i believe we will have a conclusion on the half year results on the recent campaign. Fingers crossed on the september results but regardless i do think this company is way undervalued , i would like to thank all the usual posters for there input which makes it a joy to read even no bulls comments , wishing everyone the very best.
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