Member Info for cannyscot2

Early morning all. As much as we want to profit from our investment here, some aspirations more modest than others, 99.9% of us are probably a bit in love with the story of FRR. It has been one hell of a journey so far.

Very few doubt that the oil and gas is there in humongous quantities. Why else would the company have fought tooth and nail to get us to this stage of the game, fending off many sharks along the way and been bitten by a few too. Because there are many trillions of cubic feet of gas and many billions of barrels of oil down there. That is why.

If either of the industry partners, or as pyro refers to them "SUPER MAJORS" come on board with us after extended well testing at T39 it will be the beginning of a whole new chapter in FRR's history of oil production with new wells in strategic places. FRR engineers will have learned a lot too from these additional tests.

If one of them (the second one we assume), is more interested in the gas, then gas could also be in commercial production within months of a deal being signed with a brand new well followed by many more. No more having to deal with the integrity of these poorly cemented old wells with gas flow blocked by haematite.

Oil and gas pipeline running through Block 12, all the way to Europe. We can hook into it. At this stage of the proceedings what is not to like.

Yes, there is debt. Yes there is dispute with YA. Yes there appears to be a dispute with Outrider. Yes, there is possible arbitration (referred to as using a JCB to crack a nut), which could well be sorted out by bringing major(s) on board. Yes, the additional testing has cost money. Yes, we would have been in commercial oil production already at T39 if not talking to the major interested in Taribabi. Yes there IS a Plan B if no deal is struck at this time. All in RNS's, podcasts and recordings.

But if there is a deal, make no mistake, if Carlsberg made Oil and Gas Exploration Companies.............

DYOR. There is so much info out there, right back to the Russian oil production in this area from the 1930s to the 1970s. They had no interest in the gas which they discovered away back then.

Is the wider market about to wake up to the fact that this could be huge? Watch this space!! We will soon find out.

Good luck to all genuine holders as always.

One farm-in = 💲💲 and byebye Outrider and YA plus cash flow (discussions ongoing)
One jv with a free carry in early days = cash flow (discussions ongoing)
Only when Niko 1 drilled and sidetracked = 1000bopd as things stand. (not achieved yet)
Plan B holds water too. Always good to have a Plan B. Niko 1 with hedge fund (a possibility)
Did Zaza say at meeting they are sharing oil profit at T39 while joint testing with major?
Speeding ticket for a few on here till all sorted out. Happy sunny Sunday afternoon.
P.S. Oil auctions (we don't know if FRR oil going direct to buyer or auctioned as we did not ask)

zib - you have worked hard here today. Perhaps all will be clearer in time.
One thing for sure, the pile of files on Zaza's desk, all of equal importance, is growing by the day.
Legal costs will be ramping up but he and SN are lying down to no-one. Once bitten.......
Anyone who thinks this will scare the prospective JV/FO partners, legal wrangles will be part and parcel of their everyday operations.
FRR RNS's seldom contain what we expect but one of these days...........have a great weekend all.

The flow rates are less than T39 is capable of due to additional testing as Zaza stated in the meeting and possibly mentioned by a few on here too. Looks like it is Eldari B that has really piqued the interest of the major. Possibly zones 23 and 25 as well as Zone 19.
Mole said earlier there is already info available on Taribani Zones 23 and 25 from Niko previous drilling. Then there is the gas below.
Something not talked about for a while is gas in Zone f which was talked about 2 meetings ago and I think it was said "f" appears to run through a large portion of B12. Gas composition at Udabno same as gas found previously at Taribani? Mole, could you comment on the significance of Zone f? Mtsari/Udabno/Basin Edge etc?
Zaza was really disappointed in shareholder reaction to UD2 so what do people think about the gas play in relation to the majors?

"This message has been filtered, please adjust your filters to view"
A lot of red posts. Waste of time reading, Life is short enough!!

Kenco looks like your task is even bigger this time around. A lot of guesses.
Fair play to you taking it on again. Hope zib is closest but anywhere in bottom half of list would be good.

Joking aside, it would be great to just for once have not just good news but "great" news re one or two majors having signed on the dotted line. If the posters who said they will want to have it in their YE accounts are correct then we should likely be hearing before Christmas but equally it could be a lot sooner. They will likely have standard contracts for each eventuality which will just need the blanks filled in and agreed with both lawyers so if a deal struck it should not take long for the paperwork to be signed.
Zaza deserves a break, SN deserves a break and us PIs all deserve a break too after the many ups and downs.

0.96 and hope it is well north of that. Thanks kenco.

Hello and welcome back.

apologies - was sure it said they were closed on news this morning.

Yep - US markets closed today so if anyone wanted to place a deal with their broker for UK shares they will have to wait till tomorrow.
That wee 🐕 has been running hard today. Still got the legs in it to run some more. Then a positive RNS re majors and it will be cantering along (do dogs canter?) 👀👀

The 🐕 might just be catching the 🚘.
Last Oct we had a whiff of gas. This Oct we have two super majors sniffing around the oil AND gas.
Let's see what the next few months bring and what is RNS'd in the coming weeks.
Good luck and a fair wind could see this 🚢 really going places.

Dustin's words - Jaw dropping

the people in touch with Wy will be able to tell us

thanks mp. Missed that.

Some of you have been to the moon and back in the last couple of days. Great to see that everyone feeling positive.

Can anyone recall what BP said at the beginning of the year? Cannot quite remember but it was along the lines of investment decisions for 2018, x number decided and one? decision still to be made? When was it that Exxon were seen in Georgia for meetings and visiting field operations in Georgia? possibly on site? June? Ties in with June/July for 1st major?

Re the train loads of oil which mp has put a great deal of effort into calculating bopd, was it not said on here that the quality/API did not match Taribani oil? On hindsight one question that should have been asked, perhaps it was, "Are we still selling the oil to BP or is it being auctioned now? Did anyone ask? I never heard it on tape. Can anyone clarify?

Monday could be an interesting day.

Could the ideal scenario be a farmout of one part of B12 allowing FRR to have the capital to have a joint venture in another part of B12? All options still to be decided by all three parties. A free carry on a jv would reduce percentage for FRR but if FRR had the farmout funds from major x then they would be in a better cashflow position to have a good profit making operation with major y without giving too much away.
jmvho

I think the dog usually chases the car as FRR has been doing for a while but now catching up?
I wish I could communicate 1% as well in Zaza's mother tongue as he can in ours. And all these different accents too!!

StarRage you are welcome to proof read it. Predictive test is a blessing and a curse. 😊

I have not read all posts today but listened to the whole of the recording. Thanks pyro.
A really positive meeting with great questions and Zaza answering as far as he could despite a few of you trying to tease further info.
Apologies if this has already been mentioned but Zaza appeared to be genuinely gutted at the way the news of UD2 not producing commercial quantities of high quality gas was received by the shareholders. He and the majors are still very excited about UD2 results which have provided valuable info for FRR and majors or super majors as referred to last night.
The other thing he was really peeved about was the fact that the last PB was done firstly to raise funds and secondly to give shareholders a further opportunity to invest in the ongoing work of FRR at a 17% discount on the share price when announced. Some discussion board conversation was such that let it be a failure and we will pick up cheaper shares next week. Posts to that effect were seen on here. In defence of this board I think sentiment was not good at the time (Feb 2018) and it came fairly soon after the oversubscribed PB (Oct 2017) plus the fact we were still awaiting UD2 results (ref Christmas presents) and it was so quiet on that front. I hesitated as was not feeling the love for FRR at the time but did take part as did others while a few openly celebrated getting cheaper shares. Zaza made it very clear he was not amused!!
On a positive note it was great to hear "Christmas presents" being referred to last night in a lighthearted way. Well done Zaza and all who asked the searching questions, cleared up a few points, still question marks on others subject to legals and NDAs but above all everyone appears to have entered into the spirit of the meeting. Probably a few drank too much spirit afterwards and sare heids the day tae show fur it 😜.
Looking forward to the GOLDEN TIMES and to THE DOG CATCHING THE CAR!!!! Not forgetting that most are still holding onto those GOLDEN TICKETS. 👏👏👏 and 👍👍👍 and 🎁🎁🎁 yet to come.

Thanks pyro. Now works fine. Lots to digest and hoping for many good things in next few months.
Was it June/July that negotiations started with majors? Not always easy to hear all questions and answers.

Zaza, since you have admitted now to reading these boards occasionally, well done on that marathon Q and A session. You definitely appear to be steering the good ship Frontera in the right direction. Good luck with the negotiations. We are all depending on you and looking forward to the next groundbreaking announcement. No pressure then!!

Thanks all attendees for the snippets from last night. Look forward to a full update when you have all had your beauty sleep.
Like others I was unable to listen to or download Pyro's recording as too many had tried to listen or download file. Damn, was looking forward to hearing it too.
Initial thoughts from the snippets are that Zaza did well to take questions for an hour and a half without notes, no fancy slides or prepared presentation. A willingness to engage with shareholders face to face when not in a position to release new material info. Well done Zaza.
There appears to be a lot happening in the background (as we thought) with ongoing negotiations with two SUPER majors, one (the first one haha, good one Zaza) more advanced than the other. Sounds like they are on the ground and using their own funds for additional tests? Negotiating for 6 months now so they have been there, or at least one of them has since start of testing at T45?
It would be good to know what infrastructure the major has put in place and all the rest of the juicy details but guess we will have to wait for the next RNS to find out where we go from here.
Niko 1 delayed due to being part of deal with a major (again as we suspected) and did someone say being sidetracked to Zone 25? Zaza was excited on previous RNS about Zones 19, 23 and 25?
Lots to look forward to including how YA short selling is dealt with.

P.S. See more bottoms and the not so merry TW band, a few more noticeable with their new handles, just do one (close your shorts on the way out) and move on. You are all a discredit to the human race and don't even see it!!