Member Info for kempey

that's size...ist Aubree!!

Does he have any background with a major?

I think you are right Zeps. This is being held back until flow rates are confirmed and if good then in come the majors and I would think American majors at a lowish price per share. We may have to drill two or three more wells and I would think the tipping point is 1000bpd from 4/5 wells. A JV with 51% or more going to the incoming partner will let a major take over and speed up the drilling of 100-200 wells probably all nodding donkeys like their neighbours. FRR can then go and concentrate on Moldova. Interesting for us LTH's is.... will we benefit from a one off dividend payout, an increased share price for FRR or shares in the major?

That's a serious amount of oil from just 4/5 wells and at $70/80 a barrel with production costs at $12 a barrel there should be no need for any dilution. I can't remember how many wells they said they intended to drill over the next few years but it was in the region of 100-200 I think. If we were to get 1000 bpd from 5 wells then 20,000 bpd from 100 wells etc. Over $1/2billion before production costs. This development project has tremendous potential and will be of interest to a major I am sure. Not to mention the gas! I've always believed that Zaza will want to sell and move on to Moldova to repeat the whole process. FRR have a 50 year licence there and they have yet to start apart from looking at the geology which may well be the same as in Georgia.

Mole...do you think Bidzina is in the background regarding FRR's exploration and production. Could he be keeping the share within a range until results are known. With his wealth he could have bought a huge number of shares and now drip them back onto the market to keep the price within a low price range making a move when and if the drills are successful and flows are known to be good. He has a background of buying up companies on the cheap and selling them for much, much more. I am sure Georgia's energy supply would be of interest to him.

Bidzina is a bit too close to Russian interests for my liking. I thought he retired from Georgian politics in 2013 to concentrate on his vast and lucrative business interests mainly in Russia.

Timster......I hear they're interested in you joining Trumps press and communications team!

Thanks 'oneday'. Looking again i think you are right on the .447's as they do look like sales.

pa.... I take your point but can you confirm as fact that sells are above mid point at the moment. I wasn't offered above mid point on a dummy sell of 500,000. Trades seem to be mainly between .447 and .449. I can accept that .446 may be a sell price but not sure above that. Perhaps your screen offers more detail.

buys and no sells and we are down 1%!! How does that work?

I find it intriguing that this share is held within such a tight trading range yet there have been more buys than sells today. Could a broker on behalf of a major be instructed to ensure that a share does not rise until the flow rates are known. Selling into a rising market is guaranteed to bring the share back to a certain level which today appears to be 0.46p. It would be in the interest of a potential purchaser/JV partner to ensure the price is as low as it possibly can be given news is just around the corner. To do this would be a drop in the ocean, financially to a major and much safer and cheaper than showing their hand prior to news should it be less than expected.

I just hope there is no placing to raise money for their contribution to HH drilling.

You couldn't make it up!! Gold mining and oil to flogging food to restaurants in Australia. I would fall about laughing but they have 10 grand of my money I thought would be spent on HH and Welsh gold.