Member Info for CF73

Exxon exploring/surveying in West Georgia is a sign that Exxon are in Georgia and taking Georgia seriously. It sort of confirms for me that they're likely one of the Super Majors we're talking to (Exxon then moving to support the authorities elsewhere if not to gobble more acreage just in case).

Except NIKO is on hold until discussions with Super Majors has been concluded. As far as I could make out (especially form the recording of the meeting), if there is a deal with one of the Super Majors, then it is possible that NIKO will be brought under that deal/plan. NIKO is not going to be independently spudded until we know about the Super Majors, and then only if there is no deal.

...from these levels, we'll be in the 0.30p range in one trading session..

...announce JVs and we're looking at much much higher...

...now imagine RHA Ownership sign-off and JV announced at the same time...

...that's what we got to be looking ahead to...

D66 is perfect for a gas well cos the real D66 keeps spouting a smelly, almost noxious gas. Needs plugging and abandoning.

When you're investing $3million and getting $60million - a 20 x bagger - you don't walk away... The more I think about it, the more I believe a deal is possibly sorted. That perhaps the decks are simply being cleared, including possibly those 15million sells (including Outrider??)??? This is looking better and better!

Thanks for the clarity Bluevista, keep yer knowledgeable posts coming :-)

Zeps theory regarding Outrider being the seller may have some validity. If Outrider are in fact holding shares they shouldn't be, have been told to sell and are doing so, I can see how ZM would be trying to assist to move this on, especially if one of the deals requires a cleared deck (may be in the case of a JV?). I guess the interviews are there to help, with the go-ahead of the specific Super Major concerned. Worth also thinking about Exxon in West Georgia. Trusted poster, think Bluevista, suggested that that was about buttering up the authorities. This would make sense if Exxon were seeking a JV with FRR over Block 12 and were softening the authorities for this move. Remembering that a JV - from what folks are saying - requires government approval and a farm-in/ out doesn't. Whatever it is, I'm seriously confident that we'll be getting news soon (and, thinking about it more recently, believe a deal may been agreed - hence Exxon showing themselves in Georgia - just the decks clearing). Good luck all!

Today's rise will be nothing compared to what's coming folks if I'm hearing things right,

Good luck all!

Exactly, what's great is that we have two Super Majors interested, one in the oil and the other the gas.

The potential in Block 12 is good enough to make the Super Majors want in. I think they are now just hammering out the terms, this includes perhaps FRR asking for more, hence ZM saying soon.

It's within reach!! :-)

Believe we are likely haggling over terms at this moment, that the DD is done to a great extent. News soon :-)

Another tick up due as buys starting to pick up :-))

I suspect there's some haggling going on behind the scenes. The impression I get about ZM talking about when they are able to return the market isn't the DD so much as certain terms. That ZM/FRR could already accept any old deal but are pushing for that last bit.

By now, though, there's no doubt we're involving the BIG BOYS, Super Majors. Just a matter of when and I personally believe soon ("...sooner better than later." - "...short future." etc.)

Folks will have picked out much of this already but these are comments points that jumped out at me:

On the industry major, "...I can tell you those are big boys!"

"We got a brilliant investment case. The trajectory we are headed towards is excellent, and may be in way, this is the reason of some unpleasant things happening around us. But all is being sorted out [...[ It's an unfortunate way to express the positives."

"As much as 1million barrels per well"

"Think about a $3million well delivering 1million barrels of oil, over the time [...]. assuming $60 or $70 oil, that's $60, $70million over 10, 15 years [..] That's pretty robust economics, and good opportunity to invest."

On the current work and deals, ZM expects to be able to return to the market with in the short/near future.

Good lack all!

Minister''s busting to present a better image in light of mass unemployment and general inertia since forming new government. GR about to pull the said mythical mystical rabbit out the hat

LickedtheMuckit, DYOR

ODR, my tuppence worth. No placing required. EXT revenue testing has already been producing enough revenue to cover costs and YA payments. We know that our costs have also increased a bit as a result of this work with both Super Majors. The new YA repayment plan (with what are initially no more than nominal payments, barely anything) really gives us more ability to cover those costs, including a bit of headroom, and I believe we are covering easily without need for a placing. As others had also said, if we needed that extra cash, the facility was there through YA. Indeed, taking them on showed we were in a position of relative strength to begin with. ZM and SN are playing blinders!! Good luck all!

Thanks for that Strongman - good to know :-))

Large corporations have various pension funds etc. invest and take stakes for the dividend contributions etc. These funds are risk and bad PR averse, so large corporations are as a result wary of bad publicity. Recently noted that GE had to reconsider a project after large shareholders objected.

"anyone got views on the daily 15m seller who seems to have an endless amount of shares to shift?"

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Yeah Dougula, they're an utter fanny!

Agreed StarRage regarding Bluevista's earlier post, so I'm re-posting it below (thanks to Bluevista, the ol mucker!):

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"This is just a sweetener for a much bigger deal, imv. In pitching a major deal most corporates leverage their IP to 'sweeten' the bigger deal, that is using it as a differentiator versus close competition.

This agreement to collaborate on western Georgia geophysical analysis AND TRAIN UP the GOGC staff is typical of a relatively low cost sweetener on the side of the supplier. Providing GOGC access to Exxon staff, super computers and analysis techniques is a high value differentiator to GOGC though.

Mine was a different industry, but I tell you, I've been there and done it. Nor would they commit to this if the bigger deal was not agreed.

This is a very significant step forward - and in my opinion a deal is signed (or imminently will be) for B12/FEGL farm-in/buy-out.

Interestingly, Zaza said that of the two options to farm-in or JV, GOGC needed to approve the former (farm-in). ie requires Georgian gov approval to assign the PSA (or part there-of). In return for doing this, Exxon promised a bowl full of sweeties to GG.

Job done IMO... bloody great news."