Member Info for ART123

Independent assessment is out and looks good.

This re-spud on 8th October and the RNS then said: "The Company expects the Well to intersect its first reservoir target, R1/R2, in approximately 25 days."

Looks like they should have hit the first reservoir target around the 2cnd November so something is wrong there too if you ask me.

Silly to buy today when they'll probably be another 20% less in a couple of days time.

All just my opinion.

"The rig has not suffered any mechanical issue, however the Company has insisted that the rig company replace two parts which have been found to be worn and which will be critical in the deeper sections of the Well. As a result of this request drilling has been temporarily suspended pending the replacement parts arriving in Pointe Noire."

So there will probably be an announcement in a couple of days to say that the spare parts will take a couple of months to arrive...................and the SP will drop further - not that I'm holding here during what seems to be an ill-fated drill campaign.

It's bad enough AAOG having to pay for all the drill costs because their partner here won't pay their share but now those costs are escalating rapidly.

4p soon if not today.

A lot of people were waiting for the placing here and now it's out of the way this should rise nicely.

And the trading update didn't even mention that they most probably will need to raise some cash soon to stay afloat.

Looks like most people have gone already by the lack of posts this morning - especially considering the shareprice is showing a pre-opening fall of 48%.

I forecast this months ago but as usual got all of my posts deleted and some very rude responses. Luckily I sold my quite large holding back in July at about 0.40p (and I posted so at the time). No hope here.

2 months now since ZM blagged more time to extend the already extended flow rates. I suppose they must be so poor he is embarrassed to release them.

In fact on just checking the extended flow tests started on 8th May (2018) so that's nearly 6 months now. That doesn't look like great flow rates to me.

Jam tomorrow - or maybe just marmite tomorrow.

GRQ - not a term I'd associate with FRR very much. More like GPS - get poor slowly - if you ask me!!!!!

GRQ -

"This MOU is a result of previously announced discussions with industry majors."

It sounds like that's your lot here. Otherwise the wording would have mentioned that talks with other majors were still ongoing.

Just a lot of tosh. And the market feels that too with it's 4.71% rise.

"During the reporting period the Company terminated the arrangement with Stellar Energy Advisors who had been conducting a structured farm-out process for PEL 0029. Although no farminee has been identified to date, the Company will continue to seek potential farm-in partners."

They kept this quiet didn't they. Much as I predicted though I'm quite surprised that GBP weren't obliged to announce this at the time it happened.

No interest in a farm-out to their acres at all - so what do they do? take on more useless acres next door. Pathetic. No hope here.

This share is going from bad to worse again - and yet the frightful optimism on this board continues unabated. Quite frightening.

This MOU is just a lot of tosh and quite worthless to the shareprice.

Just my opinion as usual.

Just a lot of hot air unless BGHE are going to put some money into the project.

"Under the terms of the MOU, the Company and BHGE will collaborate with the aim to improve efficiency of operations, enhance service capacity and capabilities, and commence in-field drilling and intervention campaign to increase production and recovery of resources in the Taribani, Mtsarekhevi and Mirzaani fields of Block 12 in Georgia. For this purpose, BHGE may provide equipment and products, technical services, project management and other related services on as needed basis ("Work"). This may include, but not be limited to: provision of BHGE expertise, knowledge, process and procedures for agreed areas of collaboration; project management and field engineering services; BHGE digital solutions."

Does this MOU include $100 Million or so fro drilling costs or anything similar. Otherwise it doesn't really mean anything at all.

Does this MOU include $100

D

Total joke. One of the worst under-subscribed Rights Issues ever I feel.

Correction: "There may still be Copper and Gold there, but they might never get to it!!"