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Lady mapp. When you pop your clogs, I'll trawl back through all your posts and pick out your best poems. Then I'll have them published. It's bound to be my second best seller.
In agreeing that the world is very messy. There is a glimmer of hope as a result of the G20. In general this is just a talking shop at the best of times, but the adsence of both china and russia makes the headlines even more so. However what comes out from the sub meetings may have some importance. It seems clear to me that there is a POSSIBILTY that pressure in greater strengh may fall on India to halt it being used as transit point for O&G to China. (I doubt in india will stop using russian O&G for its own use it is just too cheap from them ) This can only take place if Uncle sam turns the screws but this is difficult as india is trying to face in both directions at once. However if this is sucessful there is no reason why georgin O&G will get presure even internally to push ahead with development - This may even suit many of the pro russian aspect fora t the end of the day the right people will want to mainatin/gain powere and for that you need dosh.
If the above is both right and achievable this bodes well for us. perhpas not to the higher returns we may want as this will need production that even with a following wind will take time but more likely for a buy out.
This of course is pie in the sky but may be about right as a direction of travel taking into considderation other geo political pressures. Of course the reality may push it all just downhill into oblivion but this is the kind of thoughts both diplomats and politicians think. They certainly do not get it right a lot of the time - just look at the failure to get bids for off shore wind farms of our coast. you Governments you can not make Companies spend their hard earned if they do not want to, and certainly this has set back net zero in the UK BIG TIME. Egg on faces all the way around to all the political groupings on that one and there will have to be a serious rethink on this won as there is certainly plenty of spare cash to invest lying around.
Just my muse
Last message from RR was on the 2nd May 2023. He was once the most enthusiastic
investor on this board and and so obsessed with ZAZA that I wonder whether he was a paid
influencer and blinded by his master as so many of you were . You attended meetings and
were friends. Outsider Mapp has become the most tortured Private Investor since I was caught
on this board and I hope that my 7000 comments will not be wasted. Take care. Mapp.
I'd be over the moon to see it relisted under more honest management. After that what happens is just a bonus ++.
Any holder who wants to see Frr going into production for medium- long term would I think would need to have a medical check.
If at all possible I am sure a very high % want to see Frr offloaded by no later then end of 2024.
Enjoy
We all know Russia has had its influence in Georgia and this has also held us back and in my opinion the offers of a JV
or buyout.
Just when that looks likely to be less of influence, due to unpopular Ukraine war, we get Azerbaijan and Armenia playing up. I suspect this is linked to Russia in the back ground.
This could be a nothing issue or have widespread regional instability.
I would like to see FRR done and dusted and money in my account as this world is seriously messed up.
Those were the days when we was a true believer or near on one.
On Frr actually being offloaded & they got what Frr have stated they have invested into Georgia ($500M) then that would be something all holders would celebrate.
Except for SN & maybe few bod.
Enjoy
Hi, I check in here a couple of times a week as a holder since 2016. I was just uploading my old drive to my new computer, and came across a few posts, that I had saved from back then. Kickmuck, mad Mole, Regik and a few others. Would be great for all us long term holders if some of these came to fruition. Mad p "s is still my favourite.
Madpunter valuation
FinnFCR - I agree. You might like my previous valuation :-
18kMMbbls oil and 202TCF (at the same recoverable rates as the figures in the CPR = 2.9kMMbbls and 140TCF) . If this is converted to oil equivalent (1TCF = 170MMbbls oil) = 2.9 + 26.7 = 29.6kMMbbls. With an oil price of $75/bbl = $2002.5bn.
Typical takeover amounts for O + G companies are 1 - 3%. As the numbers are so huge, it would have to be a consortium (we have two majors interested remember) and the 1% would likely be the top limit. Therefore, with 1% = $20bn, which equates to a share price of 98p. If a JV/farmout, then I would look at 0.1% = $2bn, which equates to 9.8p. If FRR were to go into field production alone borrowing the money, then £500m market cap. is achievable + $440m recoverable expenditure is roughly $1bn. Hence, why IMHO $2bn is the figure for a JV/farmout.
IMHO a figure somewhere in the middle of the range is most likely for a buyout of Block 12. Therefore, halfway between $2bn and $20bn is $11bn, which equates to a share price of 53.5p ($11bn = £8.44bn @ current rate of $1 = £0.7675).
Remember, I have used a very conservative value of just over 0.5% of the value of the recoverable hydrocarbons. When takeovers are considered, factors that give higher valuations are low costs per barrel; infrastructure in place; market in place; proven resources and fields already in production. BP recently bought 4.6kMMbbls for $10.5bn and FRR has almost 6.5 times as much. The costs for the BP acquisition are well under $50/bbl, whereas for FRR it is under $12/bbl. There are pipelines running through Block 12, with the nearest to Tarabani only 18km away. There's a ready market in place connected to the pipelines. Production apart from the very low zone 9, is only just starting for FRR. Tthe resources are being proven by the current EWT's, plus the seismics and the proven geology of the Kura Basin and Maykop formation. Therefore, IMHO taking everything into consideration, half a percent of the recoverable value is very conservative and not utter tosh.
I am assuming the resource of 4.6kMMbbls of oil BP bought is the amount recoverable, as I haven't found a breakdown for the resource.
FRR has 6.5 times as much recoverable hydrocarbons and 4 times as much profit per barrel, which equates to 26 times as much profit. BP's acquisition is already flowing at 190kbbls/d and is a proven resource. IMHO $11bn for 26 times as much profit, than a resource for $10.5bn with the field already developed, is a good deal.
Hoping for the best!!!
Thanks Chris572 - I think this is just a tax-related summary / declaration by the now-head of the GOGC laying out his personal incomes, ownerships and official duties for the past year. The reference to GC / FEGL is likely in relation to the GOGC's role in the local operating company.
Not too sure what this is but it’s from the Georgian government website and the title is the following “ Declaration of the official's property status”.
1) Gas Transportation Company of Georgia LLC
enterprise
Limited Liability Company Frontera Eastern Georgia LLC
Georgian Oil and Gas Corporation
The amount of share of the main enterprise (50%)
Non-core venture partners
Green Capital
https://declaration.gov.ge/Home/DownloadPdf/149186
Six years ahead and we shall all be more safe on the Internet.
Face recognition, fingerprint is the only way in and is already widely
spread. Had a demonstration this morning and was impressed.
Computer problems are traced to intelligent idiots I.I.s
Stonewall advises NHS, etc. for a fee how to promote LGBTQ / Woke / diversity.
Spreading like tough weed at record speed and is there to mislead. Worldwide.
Impossible situation. Members should wake up and cancel subscription.
Just goes to show you how many people are still reading this board. Not dead just on a ventilator and one day the company will awaken. This is an amazing board and a credit not just to looed etc but everybody for supporting them by being here. United we stand!!!
I would also like to thank you (@Phil7777 also said) for keeping us up to date. I too long for the day that my holding comes good and trust that our patience will be rewarded. Thanks again ladies and gents.
Coggy, lovely touch and a sign of true gent responding to our lovely lady mapp, class..👍👍
Lovely lady who likes a mapp
Your at an age you have a midday nap
The real positive here is your still with us
Even better you don’t pay for your bus
You say life is not fair
But what is life ….if you don’t dare??
Smile now lovely lady and cry later I ask
Because our leader SN is on the task
Slowly, slowly , he is winning the battles of courts
So one day hopefully we be on a beach in shorts
GLA real holders
Dulwich, my book is out of print 🤣
Tomorrow is the new start of the Ukulele Group.
My Broker Song sounds good with the tune of "My old man is a dustman."
In Memory of HL who dumped Mapp. Farage is not the only one FUMING.
I found a new path down to the sea. My favourite bench has a sign in memory of Greta
who died at 104 . That is encouraging. Cider Vinegar and Aspirin for anybody clogged up.
Works. Finance is a scam. We are encouraged to safe, invest and then? Fraudsters empty your
retirement nest egg with ease on-line. They break into anything everywhere. Nobody seems to
care. Life is not fair.
Dulwich I saw a book in waterstones at the weekend
the title was in big letters, couldnt miss it.
‘ thinking of investing ffs dont do it’
how to lose money in 3 easy steps
open an account
transfer some money in to it
buy some stock
Cogs
Have taken your suguestion but something seems wrong I have tried Asprin mixed with Jonnie walker. Bloody aspin will not desolve! any suguestions?
PS Do you happen to know of any good books that advise on investing on the AIM market or better still off market oil Companies? The ones I have seen are all out of date?
Lady mapp, chin up old lass.
"Chin up old lad." Describes the investment community reading this board.
We Golden Oldies have the time to take part and if we lose our retirement
nest egg we can get lost. Cogg is an engineer with an eye for a bargain and spent
time on research. Many FRR investors are as smart and still live in hope.
I am the Mug who was impressed by the enthusiasm which is typical of this board
and catches many and some are highly qualified. That is unacceptable.
It would be sad to see the company finally getting back to production or selling the asset for a large sum, but if the current government continues heading towards putinism, it will still have the same opposition and corruption we were fighting against before delisting...
https://twitter.com/FormulaGe/status/1698701113166291436?t=f2pwMjUzuu2HfI_LOPWouQ&s=19
Hey hey just catching up on posts and particularly coggys . theres some great people on here who dont deserve whats being presented to us.
Coggy youre an absolute star and always funny and someone who i imagine keeps everyone happy around you and youve always made me chuckle on here
We are going to get through this with a greater zest for life with what we ve been through
or maybe we wont 😂😂😂😂🤪
No problem Kenco222 and agree it's best to be open-minded about potential outcomes.