Member Info for Madpunter

IMHO FRR has $10m+ coming in from the trainloads of oil, as I've previously posted. If I'm correct why isn't FRR paying off YA in full? While I believe that FRR has enough money to clear the debt, there are a number of reasons for keeping a good pot of money. Prior to the two super majors, FRR could easily plan ahead with respect to how much money was required. Now, FRR can't plan ahead as there may be new requests from those majors. For example T39 wasn't planned to perforate zone 19 and was probably requested by the majors. The following points are some of the possibilities :-
1) The revenue might stop from T39 if the testing is finished due to restrictions on flaring the gas.
2) There may be a request to perforate the deeper zones below zone 19 from T45 and Dino-2, costing more money and reducing revenue while they're out of production.
3)They might get close to an agreement and request a new drill for UD-2. For example using my figures for Block 12 of $11bn, if the majors offered $9bn and FRR wanted $13bn, they might request the new drill for confirmation, with an agreed price of $11bn.
4) More staff may be required, as we have been told they've employed more technical staff.
5) While the negotiations are expected to last 2 - 3 months, they might last much longer.
IMHO we are close to a deal and FRR are just being sensible regarding the finances.

IMHO FRR has $10m+ coming in from the trainloads of oil, as I've posted previously. If I'm correct why isn't FRR paying off YA in full? While I believe that FRR has enough money to clear the debt, there are a number of reasons for keeping a good pot of money. Prior to the two super majors, FRR could easily plan ahead with respect to how much money was required. Now, FRR can't plan ahead as there may be new requests from those majors. For example T39 wasn't planned to perforate zone 19 and was probably requested by the majors. The following points are some of the possibilities :-
1) The revenue might stop from T39 if the testing is finished due to restrictions on flaring the gas.
2) There may be a request to perforate the deeper zones below zone 19 from T45 and Dino-2, costing more money and reducing revenue while they're out of production.
3)They might get close to an agreement and request a new drill for UD-2. For example using my figures for Block 12
of $11bn, if the majors offered $9bn and FRR wanted $13bn, they might request the new drill for confirmation, with an agreed price of $11bn.
4) More staff may be required, as we have been told they've employed more technical staff.
5) While the negotiations are expected to last 2 - 3 months, they might last much longer.
IMHO we are close to a deal and FRR are just being sensible regarding the finances.

Maybe the trap for YA was aimed at Outrider, to remove Hope from the board at a sensitive time, knowing how he would behave in response to a default notice from YA.

Laks - YA have had to accept $200k less each month for being caught naked shorting. Maybe the trap for YA was aimed at Outrider, to remove Hope from the board at a sensitive time, knowing how he would behave in response to a default notice from YA.
http://www.lse.co.uk/share-regulatory-news.asp?shareprice=FRR&share=frontera_res

Maybe the trap for YA was aimed at Outrider, to remove Hope from the board at a sensitive time, knowing how he would behave in response to a default notice from YA.

Sorry for the repeats. It kept coming up with a server error trying to get back to the chat page.

YA have had to accept $200k less each month for being caught naked shorting.

YA have had to accept $200k less each month for being caught naked shorting.

YA have had to accept $200k less each month for being caught naked shorting.

YA have had to accept $200k less each month for being caught naked shorting.

YA have had to accept $200k less each month for being caught naked shorting.

YA have had to accept $200k less each month for being caught naked shorting.

YA have had to accept $200k less each month for being caught naked shorting.

YA have had to accept $200k less each month for being caught naked shorting.

I was wondering why NM would sell 100m shares to BHP at this point in time? IMHO the gold cycle is wrong and looks like it is bottoming, before a big rise when the US markets retrace. Therefore, the extra money will help to keep the wolves from the door until the gold price is rising and NM gets his price. I've copied an interesting post by Herbieridesaga below :-
Hi Laks, just caught your charts from Monday on gold. Thanks ma'am. So 1280 by 1st Nov then all bets off. I've just worked out how to short in my H&L SIPP so I wil be joining in the fun. Did you ever look at Larry Edleson's predictions ? He said the dow near 30k and gold to new lows before a crash and gold to 4000-5000. He also predicted the cycles of war and a whole lot else we're a coming together to make for a right royal mess (not that Yankees do royal - apart from as a photo fantasy). Anyway, I also saw some predict down to 15k next - though I'ne sure the late LE was preicting lower than that. You clearly do not expect it at 15k by Nov the first - but do expect a third drop at least. I am of the Buffet views about total capitulation and despair are needed - and that almost always means an irration flight to gold - and that's not 1280 - and that's not Dow at whatever you feel - 24/22/18 - so how's about this. Quiet often you do see an EW5. You seem to be predicting an EW5 (they can be down as well as up). What I have seen in the past is an amost perfect technical EW5 can then be the first leg of a much bigger EW5 formation. So if Nov 1st was a pause point (for the end of EW5/wave 1 of macro EW formation) I reckon this could be the big one - 3 months later another catastrophic fall of simlar magnitude 27 to 20, say 24 to 17, then say 20 to 15 - the other punters prediction for 6 months form now. Now call me old fashioned but I think Dow 15k is a sensible p/e ratio - where FTSE 7k is actually a bit light weight for current earnings (H&L saying the only two previous occurances of such low p/es being about 1916 and about 1942) - and this doesn't feel like a situation of quiet that level of threat. So the FTSE has been decoupled rom the DOW and DAX forever - is this the time of reckong I wonder ?? Your reviews always valued. Hope you found my ramblings amusing.

That comment by Zaza will be a key moment when they make the film.

Must be a big sofa!

Star - I have done a bed and ISA with HL and as they perform the task manually, that is why you wait in a queue. The time before the sell and buy back is usually seconds. I had similar worries to you and aborted a few times, then went ahead by placing the order early in the morning, just hoping their wouldn't be a late RNS. It went through mid afternoon of the same day, I think that some days it will take longer in the queue than others, so probably better later in the week. I assume most will think of doing one over the weekend and place the order at the start of the week.

Thanks Mole,Zib and CF73. I look forward to reading what you uncover tonight.

Second post by regdik :-
Now Georgia are welcome guests in Washington and there is and acceptance that they may have more than dirt beneath their feet. Delegations met in both Georgia and Washington both political and big business. FRR have friends in high places and great contacts in O&G industry and the time was right to share their latest testing results and invite majors to come, see, feel and participate in upgrading the CPR. I understand that this has been going on for over a year. The majors have technical folks in Georgia and they have suggested additional tests and methods. FRR had to invest in similar expertise to ensure that they to fully understood what was required and how best use the data to formulate a plan to conduct a sensible commercial discussion (O&G are hard negotiators). This probably prompted the GG to look at arbitration as it is/was going very slowly and the $$$ that they would see in investment and eventual share of the product slipping.
So why no deal to date I assume is around how do you value the asset in the ground the cost of extraction as the amount they seem to have increased as more data is produced. The more we have the more the majors will want in and the more they will seek a JV/FO arrangement.
So ZaZa has two aces in his hand and is playing poker with all comers. YA and Outrider have been caught cheating and may be thrown out of the game. Lets hope its a winning hand and not a busted flush,
So how long – as long as it takes.