Member Info for Lubumbashi

Definitely miss Wy. Straightforward Yorkshireman, still cannot believe he got banned and we have to put up with some of the posters on here. Good luck to all lth, things are really looking good from here.

And don't forget Zaza alluded to a new CPR in one of the podcasts, so NSA will probably be putting in their twopence worth on the test requirements as well.

I expect a lot of profit taking as the SP rerates which will slow the progress. So patience is still required.

Some lucky person managed to buy at .251 :)

I am sitting on my verandah looking out across a sparkling blue ocean with a clear blue sky overhead and, best of all, the prospect of blue for FRR today. Patience rewarded?!

£46000 to FRR £13000 to BLOE We really are stiring up the markets today.... maybe next week. GLA

You do wonder. There has been .25% of the shares traded and people have entered panic mode.

Wasn't really picking on you, I love a good conspiracy theory. Really just trying to emphasise that UD2 is not all doom and gloom - we learnt a lot that will be very useful for the next drill, be it a new well or a sidetrack.

I don't want to be the damp squib but, as you say, they have been doing shut-ins for years so I'm pretty sure that , unless you buy RainbowRider's conspiracy theory, Zaza knew exactly what was being said. Which, as I've said before, is not a disaster but a small hiccup in the great order of things. You must remember that before fracking UD-2 was flowing commercial gas. No reason that cannot be accessed with modern technology and drilling methods.

One possibility on the time taken to complete the testing is that NSA is revising the CPR. The three wells are in close proximity to each other and therefore the reserve modeling will be much more definitive if all test results are included. And just maybe, NSA cannot believe what they are seeing and have asked for further testing to corroborate the initial findings (he said hopefully).

I think I now understand why the EWT have become Very Extended. Zone 19 is a game-changer (as if we haven't had enough of those already) and the strategic plan for the field production phase of the company will hinge on these results. Management at FRR will be doing their utmost to make sure that they get this right. Unfortunately this means more patience is required.

Commy in my opinion issuing shares is fundraising. Avi8or is hopefully right, a boring payment straight from oil revenues.

Cogs you said it yourself- Einstein ain't wrong. :)

Wow Coggy! 45,000,000 x 45,000,000 = 2e15. Even I am not that optimistic.

Timster I hear where you are coming from but: 1. I don't think UD-2results were bad. The well itself was a disappointment because of structural problems but overall FRR proved the existence of a high-quality, commercial gas field. It just needs to be developed using modern technology. 2. Zaza has used superlatives too often in relation to the oil for it to be anything but good. Unless he really is a snakeoil salesman, but if so why would he and SN have so much of their own cash in the business?

Plus you can add that the disclosure requirements of Cayman registered companies would allow an accumulator to bypass AIM reporting.

From Jackpack. Conspiracy theory - maybe??? In todays mail on sunday there is an article about jkx oil and gas. It states that a ukrainian has quietly become the second largest shareholder with 20% and the BOD are now trying to find out the how and why. Could this happen at FRR - a few facts looked at from a different angle. Rumour failed takeover @3p or are they still trying using different tactics. Zaza uses primary bid for placing direct to public rather than to institutions who might at some point in the future sell onto a stake builder. YA shares direct to market rather than placed with an institution Share tipping service find out about arbitration - could they have been fed the information by someone wanting to build a large low cost stake. Suddenly YA and placings stop. Could it be that the BOD realize they are making a rod for their own back as it were? Shareholder information starts to be restricted is this to make it more difficult for someone to build a stake. Zaza in podcast about BOD percentage of shares is a little shaken and just gives approx percentages is this because he does not want to give information to possible stake builders. A number of posters have commented on unusual share transactions slowly reducing number of shares in free float - possible computerized buy programe buying small amounts each day so as not to effect the price. Number of shorters - some posters think it almost like a vendetta - is it really to keep the share price low for someone building a stake. Lets face it anybody with a large stake bought at these low prices is eventually on way or another going to make a big profit given the gas potential , oil and now T39.

This is the nearest to sense on the conspiracy theory that I have seen. Well written Jackpack.

Looks like a fine day for a FRRally. Let's see what happens. GLA

Canny redeemable preference shares are just like a cheque. Take them to the company on due date and receive cash. The company then stamps them as redeemed and files them away as they cannot be used again. If they are redeemable,convertible preference shares then the company can, at its option, convert the preference shares into ordinary shares at a pre-agreed rate. These shares come from previously authorised share capital, the company requests AIM to list the shares and they can then be traded. All of this has to be announced via RNS. Hope this helps you understand why FRR and YA have nothing to do with any of the current trades.