Up 9.62% on the day but still struggling to break 3p. Share price has been here before, last broke 3p in March (3.6 in February). We know results are imminent so is this investors being enticed to invest or has there been sniff of results. If there is no news tomorrow it will slip back again.
We finish with another resource company, Frontera Resources Corporation (FRR.L), a Houston based international oil and gas exploration and production company. ? Their current operations focus is on Block 12 in Georgia, specifically the Mtsare Khevi Gas Complex and Taribani Field Complex both of which are already producing revenues. ? The RNS announcement on the 20th April 2015 provided independent assessment of the potential resource size here for the first time. ? In excess of 9 trillion cubic feet of recoverable prospective resource was identified between the two areas, confirming the company’s long held belief that they have some significant assets on their hands. ? With funds raised in May 2015 the company can continue work programmes on both assets. 70% of the c.£2.8m will be directed towards gas production, which will include re-entry of existing wells which have previously produced; with a target of increasing existing production from 2 million cubic feet (mmcf) of gas a day to at least 7mmcf by Dec 2015. ? 30% will be directed towards oil production including payment for and utilisation of equipment which will enable to do its own fracking in the future (without the need for outside contractors). An initial eight well fracking campaign is planned. Current oil production is 300 barrels of oil per day (bopd) with each new well anticipated to add 30 to 70 bopd. The proof will be in the pudding and we await further news flow
Corporate update - FRR Tue, 23 Oct 2018 ZM speaks about the settled disagreement with YA Fund, the legal action against Independent Director Mr Hope and also gives an overview of the continued success at Taribani. Includes 8 other interviews with him.
According to the 2018 shareholder presentation of 25th January: Block 12 Gas OGIP: 12.9TCF. Recoverable: 9.0 TCF Oil OOIP 10.2 bbbls. Recoverabel: 1.7 bbbls
The Taribani Area covers 80 km2, potentially extending to 600 km2. Estimated 1,031 million barrels of oil in place, 155 million barrels considered to be recoverable. Estimated 4.6 TCF gas in place, 3.2 TCF considered to be recoverable.
Crude quality is comparable to Brent – 36 to 41 degree API
Frontera has acquired, processed and interpreted 60 km of 2D and 150 km2 of 3D seismic over the area, conducted extensive technical field studies, drilled three wells and conducted multiple re-entries/frac-recompletions.
WH Ireland’s valuation of Zones 9,14 and 15: $484 million
Udabno was the "exciting" gas discovery.
Usual caveats apply, and its worth noting the presentation was created by "rtheilig" and last saved by ZM, so draw your own conclusions. If anyone wants a copy please let me know and I'll upload it.
Block Energy plc, the development and production company focused on Georgia, announces that, further to the Company's announcement on 5 July 2021, the resignation of Chris Brown, independent non-executive director of the Company became effective today.
The Company intends to retain Chris's services as a technical consultant.
Block Energy plc's Chairman, Philip Dimmock, said:
"Chris has decided to step back from the non-executive directorship and concentrate on technical advisory work. The board thanks Chris for applying his considerable technical expertise over the past three years to the development of the Company's strategy. I look forward to the Company continuing to benefit from Chris's experience in his new role as technical consultant".
RE: Lang added 5.5m last week now on 31m - still adding12 Apr 2021 09:42
I dont understand all this excitement and implied knowledge by certain posters that have arrived in the last few days. This share has regularly tested higher than 3p and has been over that more than under over the last 6 months. Its struggling to achieve any movement currently; situation normal.