Member Info for CF73

Extremely happy with yesterday's news. Having an MOU with BH is a phenomenal step forward. If we were not to get anyone else, we already have indicated work plan that shows we will be moving very quickly. But I remain convinced there is more news to come, that Exxon must fit in their somewhere. Their journey into West Georgia, so openly, where a lot less is known and explored, shows to me they are looking at the entirety of Georgia. And as the below article shows (published as recent as the 26th October, 2018), they seem especially interested in working with Georgia's gas.

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"On behalf of ExxonMobil I would to say what a pleasure it is to sign this cooperation agreement today. We have worked for a decade in the Black Sea and the surrounding areas, and it is a pleasure to extend our knowledge and experience to evaluate the potential of Georgia. We look forward to working closely with the state agency involved in the gas sector. And it is a great pleasure to sign this agreement here in this beautiful city of Tbilisi," remarked Wilson"

https://www.marke****ch.com/press-release/exxonmobil-to-study-hydrocarbon-resources-in-georgia-2018-10-26

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On the right news, if we were at sub 0.20p at the start of the day, could see 100% to 150% rise by close of play. With more rises and then consolidation over the subsequent days and weeks.

The time being taken suggests to me the last pieces of the jigsaw are now being slotted in, following RHA approval. As otherwise, no sign-off would've meant no further negotiations at this juncture could be advanced to a material stage (i.e. the respective JVs), and so we should be told. At least that's me expectation.

If they have moved things forward, then there's a lot of detail to wade through with subsequent partners and RNSs to write, seek wider approval on and then rewrite etc.

Potentially the biggest coiled spring on AIM. But still need the news.

Good luck all!

Madp, I has also been thinking about the three Majors possibility and how BH might slot into this. Your version of events if it were to be correct would be like the like playing the ultimate 'blinder' :-)

There been some solid arguments for thinking that there BH are one of the two major and the value of BH to FRR. I agree that BHs involvement is a massive step forward. I also believe that Exxon have potential shown their interest via West Georgia (would be shocked if they weren't one of the Super Majors at Block 12). But folks have also said they were sure 'there Majors' got mentioned in the interview. If that's the case, then there's so much more to come.

One things for certain though, having BH now gives us a stonking minimum backstop that anyone else on AIM could only dream of.

Thanks for reposting Bluevista, appreciating that post!

It's us sharing our oil and gas production as a means of making our contribution, And it seems by what is stated that all costs that we would ordinarily incur will come out through the production sharing agreement.

This is a massive step forward. It's like the plan with NIKO but now expanded across a much wider, more aggressive programme.

Trying short off the back of a significant partnership with an industry major is crazy. Can only guess they've thought they'd have chance based on PIs not being able to recognise that BH (GE) were significant enough. Great news today. Stronger foundations now. Looking to add more to my position

There is someone else yet to be announced (there are two Industry/ Super Majors. BH may well be there as the key service provider but are certainly significant to have in their own right.

More news to come! And soon is my guess.

Does this, from the RNS, help with thinking about costs;

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"Pursuant to the MOU, the parties will work together towards entering into definitive agreement(s) which may include, but not be limited to, commercial models regarding increasing the field production, BHGE's provision of services and products, and the Company contributing to the venture via sharing of its oil and gas production..."

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These levels are blessing in disguise. Need another couple of days to free funds and then I'll be chucking all sorts at this :-)

Agreed wright_1984 -- but worth remembering that we are - according to FRR - in discussion, with NDAs - with two Industry Majors. If this is one of them, and I am quite happy for them to be so, then there is another we are yet to hear about :-)

The visit/meeting was last week.

If sign-off sorted, but they want subsequent news to include any JV, this will take time to write and then check with respective partners. This will take time if there are a number of parties involved as might be the case with a consortium.

If sign-off hadn't happened or was delayed, I would expect an RNS stating so. Would have been appropriate and necessary to have that today. However, given no news, and the plan, as best we can understand it, was to include a raft of other progressive news, then it makes sense that we haven't heard yet, owing to the extent of the detail and parties involved, and that we are likely to hear in the coming days.

Remembering too;

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"Pursuant to the MOU, the parties will work together towards entering into definitive agreement(s) which may include, but not be limited to, commercial models regarding increasing the field production, BHGE's provision of services and products, and the Company contributing to the venture via sharing of its oil and gas production..."

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Won't be costing us anything. Production sharing agreement as with NIKO. Brilliant!!

Shed, in agreement. Having re and re-read the RNS, several times now, this is just the beginning. We always knew that there was more than one Super Major. So it shouldn't be a case that now we have this RNS it should preclude anyone else.

Said a few times already, Exxon being in West Georgia tells me they are in East Georgia too. With the eyes they have, how they would miss the emerging potential there and skip to West Georgia doesn't make sense. For me, also, this BH news makes way for someone Exxon next. In fact, I hadn't expected news of anything this early -- more mid-Novermber. So now looking forward to further imminent news!!

Looking at the RNS again, reads as if BH have been formally brought in in to do the groundwork for other O&G Super Majors.

Good luck all :-))

The listed SP not reflecting the actual SP to buy/sell.

Tick up due :-))

Whether getting BH (GE) n board is a prelude to others getting involved in due course or they are one of the key Industry Majors, getting them on board strengthens and grows the foundations further. This is key.

Add to that that we have another Super Major to be announced.

Good luck all!

GE is a monster.

They have a market cap of $98billion. Their 52-week high is nearly twice this. And their high in the last two years has been in excess of $270billion. Their revenue last year was $122billion. After some difficult years, they are repositioning themselves within the energy sector. Their involvement here is very serious, part of their global turnaround.

I now am firmly of the belief that there other Super Major is Exxon (their moves in West Georgia has got to be the give away!).

More news to come. Good luck all!

There are almost countless companies on AIM playing the O&G game. How many would be able to engage BH in an MOU of this kind???

Few - unless they have the proven prospects we have.

Folks looking to deramp to short clearly thrive playing a dangerous game. There is way more to come here. Today's news paves the way.

Today's SP is fortuitous because I wanted to top up but didn't think I'd get in below 0.50p this morning. Now just waiting for the funds and will be looking to add way more.

Good luck all!

Stesaxman, you're missing the point here, unless you sold some hoping to buy back cheaper