RE: Evening all30 Sep 2018 07:14
km - you have been missed on this board for a while. Thanks for giving your thoughts and insight on where we are at. Please keep posting.
It will take time to all fall into place but the majority of genuine holders believe we are at a pivotal stage in the FRR journey.
We have lots of clues but are now patiently (or in some cases impatiently) awaiting details of the next steps. It is understandable that shareholders are anxious to know what we have been producing in the way of oil over the past few months, when initially the flow tests were to be for 60 to 90 days then Zone 9 and possibly Zone 13 were to be added and commingled (produced together with Zones 14 and 15). Then there was the excitement of the natural flow of Zone 19 not requiring stimulation. Apart from initial flow rates and a photo of a train full of our oil we are in the dark.
We do appreciate there are other factors, i.e. two majors entered into NDA with FRR, possible arbitration for certain parts of Block 12, EWTs to establish long term flow to update the reserves, governmental changes, the YA "tussle" and concerted efforts by organised shortsellers.
What is lacking for us genuine investors is some concrete news on Dino 2, T39, T45, plans for Niko 1, EWT results and oil sales for the three wells we helped to fund plus 2019 backup plans, (like Brexit if there is no deal). We understand it is all tied in with other factors (para above) but at times patience wears thin because we get little info while two majors, who granted could be extremely important to us, but unless one of them was the £1.5m investor after PB, they have pored over the data we want to know about and they have not yet invested hard cash while we have funded this year's work along with Zaza and wait on the sidelines hoping to be thrown a bone.
We are (sorry, I for one am) hoping that an RNS with some hard facts will be released before the meeting on 4th so that the 78-80% of investors can share in the facts known to the majority of the other 20-22%.
On a separate note vy was spouting his vitriol earlier this morning and posts have disappeared so fingers crossed, he has been banned. Oldsilkroad hopefully you are on your way out too. Filter lists just keeps getting longer.