Member Info for DanBrown83

The further announcement is got to be funding for the next drilling campaign
Lind & Darius Placing, by CLN's at a price yet to be determined but whatever price is, it dictates the placing price just carried out.
The Report looked and read well until i got to this very important part:

The Company is in arrears with the renegotiated option payments schedule as at the date of this annual report. Under the Revised Option Agreement options payments for 2016 and 2017 remain outstanding and total US$1,113,250. Option payments due in 2018 are US$800,000; 2019 US$800,000; 2020 US$900,000 and 2021 US$500,000.

The Company has also agreed to make royalty payments during production with a base royalty of 2 US cents per pound rising to 2.5 US cents per pound when the copper price exceeds US$3 per pound and 3.0 US cents per pound when the copper price exceeds US$4 per pound.

virtually 15% up from the lows of 0.28
whoever said there was a bounce at 0.27p on the chart wasn't far off at all judging by this very early reaction
sometimes it needs to hit a low for a bigger rise
maybe people are seeing the market Cap and Revenues expected and seeing the bigger picture and the fact that while a few million has been lost on UD2, many hundreds of millions of $ has been proved in respect of Zone 19

just hit my Break Even of 22.85 - finally - thats after top up to bring old average down from 26p
this is just a safe growing company for me - revenues and cash, plenty of additional income streams coming in, plenty of big ticket potential in DTU and Helios to really wet the appetite for the Long Term potential

Funding will be required, but i think it will be proper funding in 2019 for the next set of wells and will be a basic loan
this year is to prove production of oil between 1000 barrels a day to 1500 barrels a day and prove we can afford the loan

i would like to see say circa $10m + our increasing funds from sales to fund say 5/6 Wells and Gas Pipes to nearest facility
The Target is 5,000 barrels equivalent by Jan 2020 in presentation.

5,000 barrels a day at $60 is $109m in revenue

I would say test zone 19 for 90 days and then co mingle and test all zones for 90 days, we will have data on other zones from other wells so we are building a picture of the flows and we will soon know declines, remember these figures are more for funders than actual cash revenue but it’s very nice to be generating sales revenue

I think it is - The Spread was .31 - .35 until the 3.5m Sell turned up - so i think delayed buy from around 3pm

We realistically would need a full scale gas plant there in due course if the Gas was proved commercial - serious expenditure and as at today's RNS, its on hold for the foreseeable future
I think best is to concentrate on oil, get extra wells and get that train making more stops to get the revenue cranking - we are undervalued on oil alone and market will realise this - especially when we get further results on the oil and added zones in the next few months
Jam may still be tomorrow but things are looking a lot better today than yesterday in the great scheme of the company - especially on a cashflow perspective

at work and after a meeting and the SP falling after what is in relative terms positive - current situation for Frontera is clearly better than expected, but the failure of UD2 is obviously the main talking point
UD2 needs a SideTrack - it will cost a few million and will probably be shelved for a year while we progress on Oil, estimates of recoverable oil are increasing and the revenue is increasing

T39 - 529 barrels a day
T45 - 270 barrels a day
Dino2 - 315 barrels a day

Total - 1,114 barrels a day
less 10% for downtime and reduction from initial flow rates, we will quite comfortably be producing 1,000 barrels of light sweet crude oil.

1,000 x $60 x 365 = $21,900,000 in revenue
1,000 x $5 x 365 = $1,825,000 in Cost of Extraction
Gross Profit of $20m a year based on this - i am going to forecast $8m Gross profit too 31/12/2018

We have yet to include any other zones or JV Well in November, reasonable we will be touching 1,500 barrels of oil per day come January 2019

1500 x $60 x 365 = $32,850,000
1500 x $5 x 365 = $2,737,500

Gross Profit is circa $30,112,500 for the year 2019

Based on these revenues, £55m Market Cap is utter ridiculous, especially since we have circa $7.2bn in Oil Reserves in Trabiani alone

Today is a grin and bear it day, people will be disappointed on the Gas, i am, i think it was known and priced in since it was left off presentation, i think a lot of people knew hence the sells, today we see some of us investors leaving but i think we will get updated flow results quite soon,i would like Zaza to provide an update on the quantity of oil actually sold in that delivery that was tweeted, a bit more on the expected cashflow other than people doing calculations based on basic information

Fag packet calculations is circa $1.8m a month, gross profit of circa $1.4m a month based on presentation from these 3 wells, taking into our over heads were probably talking $1m a month operational cash flow, take out YA payment and I reckon we have $750k a month to reinvest

I agree, let’s get the oil out and sold and get some cash, oil is proving to be exceptional here and decent early gas shows in T39, focus on oil and get our first few wells fully operational Sounds like the gas is still there in UD2, just crap Soviet Cementing needs to be bypassed, side track obviously the cheapest option rather than a new adjacent well Over 1000bopd of oil, that’s circa 1.8m a month revenues, over $20m a year, so on that basis we are too cheap on oil alone, reserves and current production

i feel sorry for Chris and i hope he managed to sell and move on to something else
judging his posting history, he was 'heavily invested' and judging by when he joined he started posting he will be well down, i also get the impression on Chris a lot of his savings were probably in here

i would say so - managed from the 100 code issued earlier
shows a good day if an 8m sell never dragged price down

The RNS is surely wrong - the Estimated Shares to be issued don't match the placing price!!!

so no conversion price set - its based on next conversion price - but face value is 0.0005 (20% of current SP)
$400,000 raised but costing $80,000 in interest for the 2 years isn't that bad
hate to say i said something like this would happen

No Operations update, this money is just to keep lights on for next 3-4 months, conclude accounts and then plan the next raise - Lind and Darius mus be getting fed up with this investment

FRRARI's all round

Weird tick up to go with it, large buy in system???

Lets face it, the fact the RNS says 70 days is probably off putting for a lot of day traders
But this is the start of a 12 month drilling campaign few months ago people were saying wouldn't happen - its now happening - we have spudded - this might have dropped today but long term money will soon be coming instead of the short term traders

It’s disgusting to promote a share on other boards so I have reported them posts, really disgusting!!!!! People will do their own research and make there own minds up but you can’t spam other boards

there is always a chance it will get delayed but it would seem any delay will be a day or two maximum, we will see Monday / Tuesday for RNS on spudding

same, but don't tell the MRS