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Still a chance there are a reasonable amount of straws, but need an Rns to show how many & seriously hope next week ZZ will come up with good results.

Along same lines as mentioned yesterday. So lets hope that T45, DINO results are good & not being held back as UD2 was.

On as far as UD2 is concerned, it would have been much better on it being talked about by ZZ as being used to gain as much data as possible & not made it seem there was a good chance of it having good flow rates.
The above is along the same lines as what SB had said in his earlier post.
Now it has been out of the way for 4 weeks or so, let's hope that the T45 & DINO results are positive then with T39 added on sentiment towards Frr should start to improve a good bit with sp.

Even though 1000bopd is a good mark to pass for oil production. If though once T39 is completed oil production is anywhere in the region of 750/800bopd that would still bring in revenue of something like $1.5M per mtg.

On above are we closer to 0.20 or is ZZ actually going to come up with positive on T45 & DINO?

If Frr can come up with a good looking funding facility that also can add a good rise to a sp, so lets hope on that happening sometime soon, as well obviously as positive looking flow rates.

All the time though still looking like it is a wait until T39 results are ready of which, it has been mentioned 3/4 weeks & that was a week or so back.

As usual a wait & see.

I would think that you do not need to be an expert on the above & know that holding back not so good news is a good thing. Especially as ZZ seems to many to have did that with UD2 & sp dropped more, also any positive on the T39 update was lost.

So still some hope that T45 & Dino will come good when we have the results & on the results it is getting closer to T39, so as mentioned a few weeks back there is a chance the full results of those two will be with T39.

See on Ntog that there is an article on a well for sale for $1.5M, in Texas & it is producing the massive amount of 30bopd.

So just think on what Frr wells should be worth even though they are not in Texas.
😁

If by end of week we can be in high 3s/low 4s then we can seriously think that we are properly on the way up.

So lets hope on the above happening this week

Hope things are going well & sp for SOS, improves more over coming months for you & all.

Would be great if sp can make it into high 30s/low 40s before we receive, what we want & that is positive looking flow rates.

Let's hope that he is meaning not that far off 1000bopd. Overall , if results can be 750/800 good that would bring in a good stream of revenue.

On the hedge fund I feel a big part of it all, is that they are positive enough on funding Niko of which a good bit would have gone on the work on the 3 well campaign up until then.
Let's hope that 1st two full results are next week, but still obviously a chance that Frr will with on T39 testing being completed.

Thanks SB and good to have your summary as things are getting ever more complex here. Whilst funding for next year is unclear that has always been the case here but the ramp up in production and the booking of some reserves will make the job much easier going forward ( and yes I do think you are being very conservative in moving only 25% of the 103m bls to the P1 category).

On the funding issue I have just been looking at this presentation on Schlumberger’s website:https://www.slb.com/news/presentations/2018/2018-0612-schorn-wells-fargo.aspx 1 and I think this section below is very relevant here in confirming a reducing cost base as more wells are drilled and tested and also reducing the time it takes to complete a well:
"More recently, an increasing percentage of the work has come through lump-sum turnkey, or LSTK, contracts. LSTK work is based on a contract that sets a fixed price to drill and complete a well. The model is typically applied to development land drilling activity in areas where a significant number of wells have already been drilled. This means that substantial data and records are available to define drilling programs that minimize risk. For Schlumberger, the advantages include the ability to capture the value generated by operational efficiency and reliability—two pillars of our transformation program—as well as to capture the value of well engineering and differentiated technology. At the same time, risk is managed and capped at an agreed level.

With the longer timespans of LSTK projects, increasing performance becomes accretive to margin through the benefits of the learning curves acquired. On recent contracts in the Middle East, for example, we have been able to increase footage drilled per day by 40% during a three-year period, and decrease non-productive time by more than half over the same period."

It seems to me that we are rapidly approaching an inflection point here where the evidence base becomes sufficient to attract a major. We know that at least two have been talking to the State agencies in Georgia and they will no doubt be looking very closely at the final well results from the Taribani campaign as well as the fact that the company has flowed gas from the Gareji formation for the first time. They will also no doubt be keeping a close eye on the deep gas well that Schlumberger are currently drilling just to the north of Block XII.

Meantime the share price defies logic, but that really doesn’t worry me as true value must eventually emerge and I am sure that will result in a share price which is well north of the 1p that the Directors converted their CLNs to equity.

Coggy

Whatever the flow rates come out as, let hope that the 150 mark, is the minimum that the wells are flowing at.

Star
Agree, as did mean to add that 'of which is what this bb, is for'

My original thinking was 250/300 now though, it has reduced to 150/200 & overall that is still increasing the revenue by a nice amount.

It is as usual that we will have to wait on the Rns with the full test results for the above, as that is the only way on finding out the official results.

So until the above it is just guessing/speculating.

Going on what has happened with 2/3 shares that have had the above, it can increase sp a good bit.
On the above generally it would show that independent finance company is showing confidence in Frr's work.

Overall on things going not far off what ZZ says then 1st half of 2019 should be looking much better then at present.
Overall though have to remember that many have thought by now sp would be concomfortably over 1p, but on the full results looking positive for the 3 wells in 3/4 weeks then things will be looking much better on sp.

Sure ZZ enjoyed the scenery in front of him, during the interview.