Member Info for Madpunter

EkXoc - If the GG were after a larger percentage of Block 12 when they started the arbitration, then my Achilles Heal/Trojan Horse theory fitted the bill. This would have given the GG another 2.45% of Block 12 and helped to get rid of SH/O which has delayed the progression of Block 12 with the SM's involvement. However, after this period last year there were demonstrations resulting in the Georgian Dream agreeing to Proportional Representation for the elections this year. This may have caused the GG to re-evaluate, as if they lose power they lose the opportunity to award bonuses and jobs to the favoured few. The result is that the GG have now pushed the 'PR' to a later date after this year's elections and will not extend the PSA beyond 2027. Due to this change by the GG, the US senators and congressmen have put pressure on the GG to come back to the table, which might explain the lack of media articles since the arbitration's final submissions.

Looed - The post that you are referring to was posted by Zeps as a translation in two parts, with the second part on P40 and the first part on P39 (the last post of the 2nd link below). The link was posted by Oopsi (1st link below and last but one post of the 2nd link below) who asked for someone to translate and Zeps duly obliged.

https://netgazeti.ge/news/417177/
https://www.lse.co.uk/chat/general/commodities-and-mining/frontera-archive-41C7D130-7E51-4344-82E7-83B697F53322.html?page=39

BNC - I set up a new bb for these posts, but Quady doesn't want to post on it for some reason.

Use the other board.
Try reading point 4 again.
4) Increased temperatures on the planet will increase farming yields and in some parts of the globe a second or even a third crop each year becomes possible (see the first link below).
However, market gardener's pump CO2 into greenhouses, as 800ppm is the ideal level for plants to flourish.

No your misunderstanding the science. CO2 that is from man's burning of fossil fuels is no different to CO2 from natural sources. It is the same chemical with the same physical properties. It has never correlated with temperature. You can't isolate the CO2 temperature relation for the last 150 years just because with some manipulation of data it comes close to a match.
Have you even watched any of the videos by Dr Patrick Moore or Dr Will Happer?
Furthermore, ByronBayGold is right, if you want to reply use the link that I provided at the bottom of my 00:57 post and leave this bb for posts about SOLG.

The graph is for a period of hundreds of millions of years and CO2 has never correlated. Temperature increases or decreases were never in sync with CO2, therefore, it doesn't matter on the source of the CO2.

Quady - Here's another link for you, which highlights why the data can be disputed, when the mean global temperature becomes 14 degrees Celcius, because the previous 15 degrees Celcius didn't produce the required increase in temperature. Around the same time the UHI was being manipulated to produce the required data.
Ask yourself why the IPCC had to hide the Emails about discrediting the Medieval Warm Period?
It's a fact that the 'Hockey Stick Graph' is based upon one species of tree, that only grows in one place on the Earth, with a very specific micro-climate. Hardly the basis for good science.

https://www.americanthinker.com/articles/2012/11/fourteen_is_the_new_fifteen.html

Quady - Why do think that thousands of scientists don't believe in MMGW, including Dr Patrick Moore (the co-founder of Greenpeace. He has put his life on the line for environmental issues, such as when he was driving the RIB when the Rainbow Warrior was attacked in NZ {see first link below}); Dr David Bellamy, who never worked in TV again after calling MMGW 'poppy****' (see second link below); Dr William Happer, Professor of Physics at Princeton (see third link below); and John L. Casey ( Author of Dark Winter and Dark Sun. Former President of SSRC and acting CEO of IEVPC. {see forth link below})?
1)There are 31,000 US scientists and professionals opposed to Kyoto (see the video in the first link below @ 05:03).
2)Carbon Dioxide has never been in correlation with temperature (see the Geological Timescale: Concentration of CO2 and Temperature Fluctuations @ 06:27 in the same link).
3) Carbon Dioxide is not a pollutant, but a chemical essential for life and there's currently a dearth of Carbon Dioxide, which is why it is pumped into Market Gardener's greenhouses (see the third link below).
4) Increased temperatures on the planet will increase farming yields and in some parts of the globe a second or even a third crop each year becomes possible (see the first link below).
5) Global cooling will result in lower yields for farming and could result in famine (see the first, third and fourth links below).

If MMGW isn't happening, why is there so much support? Dr Shiva Ayyadurai, the inventor of Email, explains the money making scheme in the fifth link below.

https://www.youtube.com/watch?v=UFHX526NPbE
https://www.independent.co.uk/news/people/profiles/david-bellamy-i-was-shunned-they-didnt-want-to-hear-8449307
https://www.youtube.com/watch?v=M8iEEO2UIbA
https://en.wikipedia.org/wiki/John_Casey_(climate_change_author)
https://twitter.com/va_shiva/status/1176506786414825473?lang=en

Instead of clogging this board with your replies, answer on the board in the link below :-

https://www.lse.co.uk/chat/general/general/the-man-made-global-warming-scam-BC36E2D3-47A5-45D9-A163-1D9BA45EAD60.html

Coggy - I also like this version :-

https://www.youtube.com/watch?v=x-XAOCHPXgs

A few well aimed barbs by Zib and a bit of dry humour from Coggy has also helped keep up PI's spirits between the snippets from the sleuths.

Gipps - The revenue for H1 2018 was prior to revenue from the wells fracked in latter part of Q2 (not yet sold) and the gusher T39 which didn't start flowing until the start of H2.
My figures give 1974bopd
Zaza stated up to 2000bopd
My figures for revenue in 2018 gave a profit of $1.5m, but didn't include the lawyer's fees and payments to YA.
Zaza stated a profit of $1.2m.
My figures give $58.9m revenue for 2019 and $13.5m for 2018. The remaining 9.5 years from the summer of 2008 FRR produced 220bopd of which 75bopd was heavy crude (this has been RNS'd). The average oil price was around $65/bbl. The oil price slump was around 2 years where the average was around $45/bbl (includes the $5 premium to Brent). The average price for the heavy was around $50/bbl and $40/bbl, during the slump.
145bopd x $65/bbl for 7.5 years = $25.8m
145bopd x $45/bbl for 2 years = $4.8m
75bopd x $50/bbl for 7.5 years = $10.3m
75bopd x $40/bbl for 2 years = $2.2m
Total for the 9.5 years = $43.1m
Total extracted from Block 12 = $43.1 + $58.9m + $13.5m = $115.5m using my figures.
The only figure for the gas I could find was 188 mcf in 2014 (https://www.lse.co.uk/rns/FRR/2014-annual-results-ttmdc93tdsujj4e.html) and a price of around $3/ thousand cubic feet ( https://www.quora.com/How-much-is-a-1-trillion-cubic-feet-of-natural-gas-worth) = $564k per year x 11.5 = $6.5m.
Therefore the total using my figures is $122m.
Zaza stated $100 - $120m.

If the production for Block 12 was the same in 2018 and 2019 as the previous 220bopd, 145bopd @ $65/bbl x 1 year = $3.4m and 75bopd @$50/bbl x 1 year = $1.4m = $4.8m for the 220bopd.
Then total extracted = $4.8m + $4.8m + $43.1m + $6.5m = $59.2m, which equates to the $60m in the 'Propaganda' just released. Therefore, if the $60m total extraction is to be believed, then the fracking of T45 and Dino-2, plus the perforating of the Eldari B produced ZERO EXTRA PRODUCTION. IMHO the recent article is propaganda as it implies zero extra production from the 2018 work. However, the statement figures from the Ukraine press release and interview correlate with the daily flow rate, profit for 2018 and total extraction in my figures.

https://www.lse.co.uk/chat/general/commodities-and-mining/frontera-archive-41C7D130-7E51-4344-82E7-83B697F53322.html?page=22 (see 4th post from the bottom)
https://www.lse.co.uk/chat/general/commodities-and-mining/frontera-archive-41C7D130-7E51-4344-82E7-83B697F53322.html?page=23 (see 4th post from the bottom)
https://www.lse.co.uk/chat/general/commodities-and-mining/frontera-archive-41C7D130-7E51-4344-82E7-83B697F53322.html?page=41 (see 5th post from the bottom)

When FRR released a statement when contesting the Ukraine court case, it was shown and backed up by an interview with Zaza. This latest so called statement is in the form of a media article with the Frontera logo added. Now two days later we have the GOGC countering the $580 m sunk costs as being excessive, especially with only $60m of production. IMHO the statement was propaganda and was produced to enable the GOGC to discredit FRR's figures or was it just very convenient timing and content by FRR? The $580m seems too large if Zaza stated about $500m and later $550m during the Ukraine interview, as it is unlikely that FRR has spent another $30m since September 2019. Furthermore, Zaza stated that FRR had produced $100m - $120m (in the Ukraine interview), which correlates with my figures of around $60m in 2019 and around the same for the production prior to 2018 drilling ($64.75m less 1.5 years @ $6.25m from my previous post in this thread). If the Ukraine interview figures are correct, then the production increases significantly with the 2018 drilling, doubling what has been extracted in total, whereas the $60m total indicates no extra production from the 2018 drilling IMHO. The link for the Ukraine interview is posted below, plus the Frontera Archive link showing the date posted by Chris572 (5th post from the bottom).
https://expro.com.ua/upload/images/frontera%2001%281%29.jpg
https://www.epravda.com.ua/rus/publications/2019/09/10/651021/
https://www.lse.co.uk/chat/general/commodities-and-mining/frontera-archive-41C7D130-7E51-4344-82E7-83B697F53322.html?page=22

Timster - The numbers in my recent post are from the RNS's listed. Production of 220bopd for 11.5 years (it was more in the first 18 months before the zone 9's declined), plus the gas = around $6m each year @ $65/bbl. FRR receives a $5 premium to Brent and the price has averaged above $60/bbl since 2008. Facts not propaganda.

Goit - Apart from one statement during the Ukraine court case FRR have remained schtum and until the arbitration is completed or a deal is announced IMHO they will remain schtum. The statement is 'supposedly' from FRR, but it only gives the production based upon rates from the Eldari A prior to the recent fracking. It also greatly increases the sunk costs by $140m. How have these costs increased? IMHO it is propaganda.

FRR has been pumping oil since the summer of 2008, which is over 11.5 years. Prior to the oil price decline in 2015, FRR's revenue was around $6m each year from oil and gas sales. The oil price was subdued for around two years (see the 5th link below and click on max under the chart), but FRR had reduced sales in the latter part of 2017 , due to work on T39, T45, Dino-2 and Niko ready for the fracking etc. Therefore, there was reduced revenue for around 2.5 years.

Using the figures before the oil slump the average is $6.25m, which multiplied by 9(11.5 - 2.5)years = $56.25m
During the period of decline the average is $3.4m, which multiplied by 2.5 years = $8.5m.
Total for oil and gas revenue = $64.75m.
Therefore, the figures in the latest article do not include the increased production from the Eldari B. IMHO this article is more propaganda to make it look like Block 12 isn't very productive. They have increased the sunk costs to make it look even worse in terms of revenue verses costs. The figures can be cross referenced by using the 220bopd of historic production, which only requires $65/bbl for 11.5 years to give $60m (that's without the gas and a reduction for the 75bopd of heavy crude which sells for less). FRR's oil sells for around a $5 premium to the Brent price which has been as high as $84.58.

Revenues from crude oil sales for 2013 totaled $6.1 million (see 1st link below).
Revenues from crude oil and gas sales for 2014 totaled $6.4 million (see 2nd link below).
Revenues from crude oil and gas sales for 2015 totaled $3.7 million (see 3rd link below).
Revenues from crude oil and gas sales for 2016 totaled $3.1 million (see 4th link below).

https://www.lse.co.uk/rns/FRR/2013-annual-results-and-operations-update-x6g6gu8u9y4l8oq.html
https://www.lse.co.uk/rns/FRR/2014-annual-results-ttmdc93tdsujj4e.html
https://www.lse.co.uk/rns/FRR/2015-annual-results-uv2krjysmdjfg6v.html
https://www.lse.co.uk/rns/FRR/frontera-resources-releases-2016-annual-results-gaanq4n83f1urzc.html
https://oilprice.com/oil-price-charts/46

Rigz - I can remember the names of those bands, especially Su Yu, so our paths must have crossed. It's a sign of us getting older, when reading about more musicians that have given us pleasure are passing away.

pophead - The last few miles always seemed to be the longest part of the journey.

Rigz - Did you play in a band or in the Monday Jam?

The hundreds of posts referred to in my previous post, are from the 52nd post of page 3 to the 32nd post from the top of page 9.
https://www.lse.co.uk/ShareChat.asp?ShareTicker=FRR&share=Frontera-Resources&page=3
https://www.lse.co.uk/ShareChat.asp?ShareTicker=FRR&share=Frontera-Resources&page=9

Looed- I spent hours trying to catch up with the Frontera Archive in the early hours yesterday, but fell asleep before finishing (see the two links below). The number of posts included in the Archive has increased dramatically recently with all the media articles (many posted by yourself and Blownitalready). I had to read hundreds of posts and it was very noticeable, that the sentiment of posters changed with each new article of propaganda (posts from the 28th Jan. to the 2nd Feb). Some changed from positive to negative and then back, plus vice versa, hence my post about the gullible @ 16:10 yesterday. The post wasn't directed at you and the example that was used, about the overalls and insurance, was chosen because it was the latest article and IMHO it is propaganda. I have no idea who was instrumental in getting your original reply removed, but I can assure you that if I had done so, I would tell you and explain why.

https://www.lse.co.uk/chat/general/commodities-and-mining/frontera-archive-41C7D130-7E51-4344-82E7-83B697F53322.html?page=49
https://www.lse.co.uk/chat/general/commodities-and-mining/frontera-archive-41C7D130-7E51-4344-82E7-83B697F53322.html?page=53