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The one that BP didn’t develop in the Noryh Sea. Bought for a song bu A N Other now doing 200000 bopd? The stuff dreams are made of Allowed to dream. Could be big for the gas but more modest organic growth in oil alone here over a few years

Have a great holiday pyro. Welcome back MASSIVE from yours. All others going on holiday have a great time too.

Should be easily doable. Roughly a fortnights oil sales per month from Dino 2 without Zone 9 if it continues at around 315 bops from Zones 14 and 15. And it is only for 12 months this seems best out of three options as no more dilution apart from the 10m shares which is nothing in total of almost 16b shares Then adios to YA. But for them there would have been no FRR but they got their pound of flesh and then some.

just maybe we have seen this bottom out and hopefully can watch it rise in anticipation of news from 4 well operations. Possibly a few i's to dot and t's to cross but could we be entering a blue spell. Fingers crossed these "transfers" are near their end. Fed up of red days. Only red we want to see is on the RNS button but could be a wee while yet to wait but not too long for next bit of news. Only dates soon that we know of are 16th June for how YA will be dealt with and end of lock in period not too far away for Zaza and SN for the company's debt conversion to shares at 1p so surely no worries there considering Zaza bought again recently at above present s/p. Lyric for today:- The Only Way is Up (crosses toes) GLA

Are we all agreed then? Transfer it is until told different?

passing about now for anyone with clear skies

of course it is flat. That's why some are teetering at the edge. Or is it round and they are going around in circles? ;)

Aa fine under the bunnet. Caught out by predictive text again 😂😂😂😊😊😊

Thinking as before that this is some sort of share transfer op. It is too easy to spot for it to be anything else but this is just my own opinion. Happy to eat humble pie if wrong but if it was underhand dealing it could not have been sustained for as long as this without the risk of a prison sentence. That is how serious it would be. Not sure how the share register is seen by the company but would think they know who the holders are? 90% sure they will know what is going on. Was surprised they did not appear to know who the 4.3% holder is unless Reuters started at a late date picking up on the YA conversions as the increases were number of converted shares on at least 3 occasions. A few people have said that they have seen these cancelled trades in other companies. If they know which companies is there any chance of looking at RNS’s for said companies to see what transpired if anything afterwards. Just a thought. Firmly in the hold and see camp and the news in June camp. Operations update re testing oil and possibly gas, funding and arrangements for YA preference shares plus as mentioned plans to fill gaps in ops till November. Someone mentioned V18. I thought Zaza said no plans to re-enter further gas wells in the short term. From memory there were three options re YA and we should know by Monday 17th June at latest. All positive except the share price. Not forgotten notice of arbitration but as Pyro says no fighting over an empty box and lots of wriggle room. Not forgetting that the gov’t still owe VAT refund to FRR. Thought Zaza was very blaze^ about that when questioned given the financial constraints of the last twelve months and the PB fund raises. Definitely a negotiating tool for any discussions and Zaza was very clear about there being no question of having to give up any part of Block 12 so as zib says all good in da hood or we on Scotland would say it’s as fine under the bunnet . GLA

:) :)

fits (Aberdonian?) = what's gan = going oan = on Now to read his post to see what his take IS on what's going on. Enjoy R&R over Bank Holiday Weekend folks. FRR will still be here on Tuesday. Hopefully kickmuck will soon appear too.

Our existing II or another putting up the funds for Niko 1 with licence granted. Great news and a fair split till II recoup their initial investment. The 70/30 for us until we start paying tax which is a fair bit down the line. We now have either 1 or 2 or even more IIs on board. This one has been stipulated as "unrelated", Guessing that the secrecy if it is intended could be for a number of reasons, one being that it is from o&g sector but just guessing like everyone else. Don;t think YA is an issue any more unless they kept back some of their allocation each month and it is they who are transferring to another party. Don't know. Would be strange strategy at this stage of the game when they could hold out for more in a few months The good news is that they(YA) will be taken care of to be OUT for good and Zaza said categorically that they would get NO MORE SHARES!! The more I see of these cancelled trades daily they have to somehow be legitimate surely. They are so blatant and easy to spot. Strange today that the cancelled trades exactly matched what appeared to be a later sell �41.3k from memory but could have been a buy at below market price if it is an engineered legitimate way of transferring shares but could easily be wrong. It is the cancelled part that is a bit off for that theory. Whoever and why, they are bound to know they have had an effect on the s/p and caused a few doubting moments even for the 100% believers. Hopefully whoever is doing it will be finished soon. If it is not legit we can be sure Zaza and his advisers will be wanting it investigated too. The two largest investors have a huge stake at 1p and we do not know what their average is but it could be north of where we are now. Onward and upwards again surely!! ATB everyone PS Still lots of news to drop in our laps in next few weeks so lots to look forward to and no more dilution at this low s/p..

She can, she can, she can

good morning. Slide 11 is my focus till we know more. $13m + PROFIT PER ANNUM on stabilised flow of 585 bopd at today's prices Production cost per barrel $12 and therefore very conservative net profit of $60 per barrel. Every 100 barrels we can add from T39 and Zone 9 and possibly Zone 13 is $2m more profit each year. We know Zone 9 can produce long term so at least 300 barrels there. 1000-1200 bopd looks likely so $20m + profit in a year. with further wells to add. Full results should put meat on the bones then we will see s/p catch up. Here;s hoping. GLA

We all just need a boost after positive initial results, gas still to come and more fracking to follow at all 3 wells in fullness of tme. We all expected s/p to rise to at least WHI estimate with some recognition for Zaza and Co being on the right path at last with 585 bopd and it would be great reward for all their hard work in Block 12.. I suspect a few are like me and unsure whether to top up at this price. To do so we need a little more clarity. Take note BoD, There are funds out there but we just need a little more info. We appreciate it could be a chicken and egg situation. Zaza cannot announce way forward until the current drilling and testing programme is completed. I.e. more than us waiting in the wings ready to pounce. Who, how, when!! As they are not ready to give us that boost we need, we will just have to pick ourselves up and soldier on like SN and Zaza have done for a lot of years. Still so much to be 100% positive about. Keep Slide 11 to the forefront of our minds. They have a Plan B which will allow organic growth at low cost per well. We just don't know what and if there is a Plan A right now. Dare I say PATIENCE AGAIN!! Wy if you are reading still looking forward to the party in Whitby. Hope the fishing is now good with this great weather following the winter disaster. See folks, Wy picked himself up and got on with the job. BTW is there a Woollies window in Whitby? Just kidding!!

Now we have a name for the screenplay and the script is being written right here with all the conspiracy theories :) Any other name suggestions while we wait?

Good points. When Hurricane made their offshore discovery it was all over the press here and on the evening news a few times, EVERYONE knew about it, not just the o&g community. Press releases?

except the s/p. Just needs time to catch up when these possible "transfers" which appear as cancelled trades are done, the finance path we are taking is clearer and recent sells/transfers/cancelled trades no doubt have caused jitters and therefore moved some other shares from the impatient to the patient holders. YA is not an issue any longer as they can be repaid using several options, none of which will necessarily mean further dilution. If that is what a few sellers have been hoping for (a cheaper re-entry) they could be in for a disappointment. Time will tell. $12 cost pboo onshore is nothing short of amazing with brent selling at $80 per barrel. No tax on profit. Liking this company more and more right now. Over $1m per month profit from 585 barrels per day with T39 to add and Zone 9 to add too on all three wells. Zone 13 (20m zone) is still not certain for now but could be added to frac plan. What's not to like!! Jmo

UD2 soon, permit for Niko 1 and logging results for T39 soon. Further extended results for T45 and Dino 2 not too far away. S/p due a kick up the proverbial to get us closer to knowing future direction. Team FRR has come a long way since October. SN and Zaza converted debt at 1p so that would be a good start for the climb. What's not to like!!

Welcome and good luck. We were at .88 in October cos there was a whiff of good commercial quality gas which could go straight into the grid but no figures as frac appears not to have given sufficient flow due to the Russians using large amounts of haematite when drilling there for oil. They have now returned to UD2 for a bigger frac to improve porosity and flow. Also in October we still had months and months of YA preference shares which were converted and sold month after month up to April this year. Now finished. Funding offered to pay off final amount or we can pay monthly from revenue or CEO may pay it himself. Massive confidence in future of FRR. In October the 3 oil wells were in the planning stage, hoping to start year end or beginning of this year. Procurement of equipment and service providers meant the campaign started late January. Funds were raised via 2 Primary Bids. one at .58 and the other at .452 for cost of the 3 oil well campaign and return to UD2. We now know from today's and other recent RNS's that T45 and Dino2, Zones 14 and 15 only are naturally flowing 585 bopd and that Zone 9 and possibly Zone 13 (which scared the team with gas kick) will be fracked to increase daily output. They are testing zones carefully to provide accurate flow rates from the new zones drilled/sidetracked to gather important information. CEO took part in fund raise at .58 to the tune of �1.5m from memory and invested a further �126k a few days ago at .48 and .49. Dustin Aro, VP Drilling and Well Stimulation increased his holding mid March at .465. WH Ireland put a fair value per share of .74 and increased it to .82 on T45 initial results and likely that needs updated and increased with flow results from Dino 2. We are awaiting full results (extended flow testing) of T45 and Dino 2, drill completion and well logging results of T39. We are now producing oil which should give revenue in excess of $10m per annum with further zones plus T39 to add soon and no tax to pay until cost recovery of spend over 20 years, $400m recouped. This should provide very good icashflow figures to borrow for next oil well Niko 1, following which wells in 2019 should be self-funding if this is the route chosen. UD2 results could land any day and the s/p is approximately half of what it was in October which makes no sense whatsoever. We do not know if there will be a farmout, JV or sale of any assets but lots of speculation there. Following writing this it is even more nonsensical that the s/p is where it is today. To answer your question, your guess is as good as anybody's on here. GLA