RE: FRR20 Apr 2018 09:46
A very interesting post by Symore Bottoms:-
Very interesting and potentially substantial development for FRR, probably motivated by US politicals, no doubt. I also think SN may have leveraged political and industry connections (via Atlantic Council and ConocoPhillips) to bring this about. The bigger question is (if we put political motivations aside), why the hell would the biggest oil company would be interested in country like Georgia where oil and gas production at best, is negligible. So, I believe Exxon has seen all the data and log samples and are convinced with B12 potential/geology. Remember, FRR has been saying for a while that our Gareji payzone shares the same maykop formation that is being exploited offshore in Azerbaijan and could have 202TCF. However , the differences are (and they are big differences), first, we are onshore and so much cheaper to operate and 2) there is huge amount infra running through to B12 making transportation convenient. Now, the other big factor that comes in to play and is a MASSIVE sign is the arbitration request which popped out of nowhere. Well, not really. Consider this for a moment: The Georgians would have known for a while about this official Exxon trip and they thought, 'holy sheeiit' something is going down with FRR so better try to claw back some of this prospective acreage, which is completely different to what they were telling us in November when they said you have another 5-yrs of field study.
The more I think about it, the more I believe FRR is inter-connected with high-US political policy to reduce Russia's energy grip on Europe. Remember the next big transformation or energy independence project is Moldova where 'lil on FRR has already secured a 50-yr PSA, followed up with Ukraine. If FRR is clearing/ploughing the road for a Major like Exxon, surely we are made.
As usual, I only offer my thoughts.
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