Member Info for Madpunter

The US haul the directors of YA and anyone else involved over to face charges.

Mole - IMHO the important information in his pocket is two train loads of oil.

KickedTheBucket into the filter pool with the rest of the numpties. You're filtered, goodbye!

That the new contract with YA to pay $265k each month, but also to have the option of using shares or repaying the whole debt was a baited trap. FRR know that they have enough oil revenue coming in each month to cover costs and YA IMHO.

Will keep you updated about FRR. It looks like my theory about a baited trap regarding YA may be on the money.

As it's my 888th post the Chinese will love it!

Laks - Additional information.
The oil from T39 is 41.5 API, which converted to specific gravity = 0.8179. The oil up for auction is 0.810 - 0.845.

Georgian Light:
Density: 0.810-0.8450 gm/cm3 at 20 Co
Sulphur content: max 0.3%
Water content: max 1%
https://www.easycalculation.com/physics/classical-physics/specific-gravity-oil.php

The route fits. The 1000 bbls/d fits. The density fits. Perhaps FRR have to sell via government auction so that they have all the figures of sales. Then they will know when all recovered costs have been met and taxes are due (out of their 51% cut).

The oil from T39 is 41.5 API, which converted to specific gravity = 0.8179. The oil up for auction is 0.810 - 0.845.

Georgian Light:
Density: 0.810-0.8450 gm/cm3 at 20 Co
Sulphur content: max 0.3%
Water content: max 1%
https://www.easycalculation.com/physics/classical-physics/specific-gravity-oil.php

The route fits. The 1000 bbls/d fits. The density fits. Perhaps FRR have to sell via government auction so that they have all the figures of sales. Then they will know when all recovered costs have been met and taxes are due (out of their 51% cut).

Laks - Maps showing the route to Batumi via the processing plant in my post copied from the FRR bb :-

Copied from the link bugsy-b posted :-
Georgian Light type oil will be delivered as follows: 3.1.1.1. under EXW
(INCOTERMS 2010) terms, on the oil-gathering facility located on the
territory of the Primary Oil Treatment Unit of JSC "Georgian Oil and Gas
Corporation" in village Sartichala, Gardabani region (stationary object
registration number 1120057) (to be loaded in oil tank cars supplied by the
Buyer);

As the oil from T39 contains condensate, I assume it requires treatment to separate the oil from the condensate. This facility is also on the rail network en-route to Batumi :-

https://upload.wikimedia.org/wikipedia/commons/0/01/Un-georgia.png

http://nortonsafe.search.ask.com/search?chn=&cmpgn=&ctype=maps&doi=&geo=&guid=&o=APN11908&p2=%5EET%5Ecd00gb%5E&page=1&prt=&q=sartichala%20georgia&trackId=&ver=&d2=sartichala%20georgia

http://www.searchanddiscovery.com/documents/2014/20273nibladze/ndx_nibladze

Dedoplitsakaro in the above link is the nearest rail terminal, just north of Taribani (NNE).The line then runs through Sartichala (on the middle link road map, which if compared with the first link, the S5 road is near to the rail link).

Copied from the link bugsy-b posted :-
Georgian Light type oil will be delivered as follows: 3.1.1.1. under EXW
(INCOTERMS 2010) terms, on the oil-gathering facility located on the
territory of the Primary Oil Treatment Unit of JSC "Georgian Oil and Gas
Corporation" in village Sartichala, Gardabani region (stationary object
registration number 1120057) (to be loaded in oil tank cars supplied by the
Buyer);

As the oil from T39 contains condensate, I assume it requires treatment to separate the oil from the condensate. This facility is also on the rail network en-route to Batumi :-

https://upload.wikimedia.org/wikipedia/commons/0/01/Un-georgia.png

http://nortonsafe.search.ask.com/search?chn=&cmpgn=&ctype=maps&doi=&geo=&guid=&o=APN11908&p2=%5EET%5Ecd00gb%5E&page=1&prt=&q=sartichala%20georgia&trackId=&ver=&d2=sartichala%20georgia

http://www.searchanddiscovery.com/documents/2014/20273nibladze/ndx_nibladze

Dedoplitsakaro in the above link is the nearest rail terminal, just north of Taribani (NNE).The line then runs through Sartichala (on the middle link road map, which if compared with the first link, the S5 road is near to the rail link).

Laks - Iv'e copied bugsy-b's post below and my post of the possible revenue for FRR :-
There was an auction of crude oil in Georgia on September 10th.. 6,000 Tonnes of crude...

Today they advertise another auction on October 1st, Also 6,000 Tonnes of crude...

6,000 Tonnes is around 42,000 Barrels of oil...

Someone has cracked the geology out there by the look of things..

http://www.gogc.ge/uploads/other/1/1379.pdf

5000t of light crude x 6 = 30,000 bbls (conversion rates are 6 to 8 depending upon the density, so I have used the lower rate). Assuming that the first train is from August and the next from September, then that equates to 1,000 bbls/d, which is the rate that Zaza said FRR would be producing by the end of the year.
30,000 x $75/bbl (the rate we were paid previously) = $2.25m each month.
https://en.wikipedia.org/wiki/Barrel_(unit)

5000t of light crude x 6 = 30,000 bbls (conversion rates are 6 to 8 depending upon the density, so I have used the lower rate). Assuming that the first train is from August and the next from September, then that equates to 1,000 bbls/d, which is the rate that Zaza said FRR would be producing by the end of the year.
30,000 x $75/bbl (the rate we were paid previously) = $2.25m each month.
https://en.wikipedia.org/wiki/Barrel_(unit)

Even with the 64.5m buy last Friday, YA probably haven't had chance to close all it's shorts. Add the Spreadex client's shorts as well, and the MM's possibly have large orders to fill in this range. There were two 200 codes indicating that they need shares, but don't drop the price. If they take it down PI's and day traders will buy more, but if they take it up the price may be too high for their quoted orders. All we need now is an early RNS and they're f***** IMHO.

No I think it will be sorted out quickly, as I can't see how YA can win, with the information that we know from the RNS. I just think it was a ploy to drop the share price and allow their shorts to be closed.

Mickthegambler - Thanks,I was just writing my post as you were re-posting my earlier post.

Lakshmi888 posted the chart linked below, with a target area that coincides with today's gap down, which coupled with shorts closing is likely to be filled. All upwards from there IMHO.
https://imgur.com/6CLO2cN

Shedulike - Try my theory I posted earlier :-
IMHO the possibility of payment with shares or cash announced in July was a baited trap by FRR. FRR thought that YA were probably shorting prior to receiving shares, but couldn't prove that they were. By leaving the possibility open, YA continued shorting, but were then left without the shares and were paid in cash. They probably continued shorting to drive the price down, enabling them to buy back the shares they needed to replace at a cheaper price. However, they were caught out by the NDA RNS and subsequent rise.
As YA served a default notice on FRR, it has necessitated a RNS, resulting in the drop in the share price allowing YA to buy to cover their short. Spreadex have picked up on this and now are advising their clients that all shorts on FRR will be closed tonight. Either Spreadex are worried that a big rise will leave some of their clients defaulting or whoever loaned the shares now want them back.

Laks I don't think it's advisable for 1onic to attend next months FRR shareholder meeting. Hehe!

1onic - If there's an offer for Block 12 or lump sum payment as part of a JV/farmout , then that could happen overnight. They obviously don't want to take the risk or whoever has lent the shares don't want to lose the chance of a massive payout, by someone defaulting.

1onic - Except if there's a massive spike in the share price and the shorter's default, then Spreadex could end up footing the bill. 202 TCF gas + 18MMbbls oil (using the recoverable rates for those in the CPR, 1 TCF = 170m bbls oil and $75/bbl) gives a valuation of $2002.5bn. A typical 1% takeover price = $20bn. JV/farmout at 0.1% = $2bn. These would equate to 98p and 9.8p for the share price, enough to wipe-out most shorters!