Member Info for kempey

For those interested and haven't seen it watch 'BP in Georgia', from BP website, then 'Our History in Georgia' and then first video titled 'BP celebrates 20 years in Georgia'. The scale of what is happening is massive and one can see how easily it will be to tap straight into the infrastructure being built, hence my belief that BP are very interested. Haven't FRR spent 20 years in Georgia!! I believe they want to move on to Moldova and talks are well placed for a TO or possible joint venture but not as the operator. Interesting that China signed a MOU with GGOC 12 days ago to invest in the petrochemical Industry in Georgia and provide the skills and technology to develop it. Perhaps they want a slice of the cake. All augers well for FRR and its future if the EWT rates are good.

I usually keep an eye on the RSI but on a speculative AIM stock I'm no longer sure its relevant especially if news is around the corner as some suggest. It will be well overbought if Newmont or Newcrest are back on the scene and understandably so.

No it could well be commercial if the flow rates are in keeping with the initial ones. They need to fund raise as they spent so much at BB which SS though was the centre of the oil field with the most potential. They now need money to EWT at HH. I think they were going to drill a side track as well. All takes money!

I still believe there is oil in the weald but its going to take longer and more money to get it out. I like others have a fairly large investment in UKOG which is worth very little at the moment but then so was GGP and FRR at their worst. Even the Times article yesterday who seems to despise Lenigas and ridicules UKOG says that he may be prove right eventually. We will see.

The drop happens on every RNS then it bounces back. MM's stocking up on shares through mopping up stop losses.

perhaps?...The buys coming in and the move in share price is different to what we have seen for some time.

Pyro...that makes sense ' these are transfers and being counted by the market for recording purposes but not actually buys and sells.' So the cancelled trade is when they are taken from YA and the buy trade when they are transferred to the buyer whoever they may be.

Pyro....if its a transfer and to some extent that make sense in getting shot of YA over a period of time why are they showing as cancelled shares. I'm baffled as to how they are shown on the trading board. I've not come across cancelled shares before apart from erroneous errors. Certainly not on such a regular scale.

Guys...do we know which MM is allowing the cancelled trades?

Spoke to a friend of mine at the weekend who is a senior, very experienced derivatives trader in London about these cancelled trades and he said he could offer no reasonable explanation for them. He doubted market manipulation by the MM's because that would be a very serious matter and would carry equally serious consequences. However that is the only plausible strategy he could think of in terms of cancelled trades and always from the previous trading day. Has anyone had any feedback from the correspondence to the FCA......probably too soon I guess.

today carried over from yesterday. Has this come to an end and did we ever find out what was going on?

ODR...you may jest but who knows? Zaza knows plenty of wealthy Russians and no doubt Georgians for who �3m would be loose change. The RNS does however say an 'unrelated institutional investor' and in my mind this says a bank or hedge fund. Probably wrong but did he not have meetings in the city with a number of potential Institutional investors on his last two visits.

Excellent analogy Mole. My only concern on what i believe looks a great deal in financing the Niko-1 well drill is whether the 70/30 split is before the government get their 51% share or after. This is key as the reality is the take for both partners will be a lot less either way but a lot less for FRR if the split is before the 51% is taken and FRR have to stump up 51% of the total revenue gained. Its such an obvious question I am sure it is after the 51% is taken but it is not obvious from the RNS. Would this investment and agreement need oil and gas ministry approval?

John ...dilution means more shares which this isn't. It's fully funding one well for 30% cut. A brilliant deal in my opinion. Zara will use production proceeds to pay off debt so win win situation. I also believe the funding through a II is on behalf of a major or Government. They will have seen the data and the current operations and been convinced.

Could it be a bank acting on behalf of a major.......Exxon for instance? It would be in their interest to get the next well drilled whilst waiting for stabilized flow rates. An ongoing 30% on one well ensures their involvement should they decide to JV. Perhaps this is the start of a JV programme but to ensure price does not rise too much it is being done through their bank. Hence no name to II being given.

Yes excellent. No placing and JV only on that well. Brilliant strategy. Institution pays for drilling and we take 70% of the production before costs and taxes.

I wonder how many we will see tomorrow that were cancelled today. All of today's were cancelled yesterday and only reported today. I do not understand the MM's strategy in reporting a day later not that I understand the concept of a cancelled buy. I'm sure the PI would not be allowed such an opportunity.

In March last year this was at 0.40p and fell to its lowest point in August at 0.11p then shot up to 0.72p within a month (2nd Oct 17). We have far more development & production to now to justify at least a 0.72p price which even then only gives a MC of �113m. This will really move on some good flow rates and certainly once the shenanigans regarding the cancelled buys stop and YA are out for good.

They were all cancelled yesterday so why are they showing up today? Clear manipulation and not by MM's but by who? Someone really wants to hold this share price within a short range 40-45

I've never seen a share so manipulated as this one. I do not understand the cancelled trades which are regular and large. It must be someone wanting to hold the share price down until flow rates are known or contracts are agreed. The potential of this asset and the declared oil flows given that FRR is in production already does not justify such a low MC even with the number of shares in circulation.