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Cont'd from previous post should say

Cont'd from precious post ..........wells in taribani because we have built the confidence based on what we see as test results, even thought we are still in extended kind of testing operations, we see taribani wells to be drilled in zone 19 as we move forward and we see in 2-3 years from today producing 10k barrels a day from Eldari formation." "What we see so far, that has built the confidence in us such that we are getting ready for the larger scale development drilling campaign which we like to start in Q4 with sidetracking Niko 1 well and then continue next year drilling wells in zone 19." "Financially the good thing is that with the current test programme we have increased our revenue stream, so the cash we are making right now is allowing us to cover all our operational costs, and also we are paying off the debt which we had, we are paying off $265k every month." "With time we are going to see a lot more proven reserves coming into our reports and this is opening new door for us to bring new capital into the company. Established flow rates from those horizons will bring another dimension to our CPR estimates, and then subsequently that opens up the door for different types of financing we like to use next year."

Some key statements by ZM from latest interview... Happy to be invested here looking forward to next imminent update. No reason to suggest the flow rates won't be good or very good....... "We've drilled the 3 wells with improved drilling practices with oil based muds, we've achieved condition on the well bore which has never been achieved before historically in this area, which means that we have very nice gauge 12 which is excellent pre-condition for good cementing job, and good cementing is excellent pre-condition for stable sustainable long term flow of oil and gas." "On the other hand what we see and the last RNS on T-39 is another proof that we are flowing the oil and gas at a very nice commercial rate even with very small choke size." "T-39 has been completed in zone 19 which is Eldari B, and zone 19 has a little over 20M barrels of recoverable oil based on CPR estimates, our own estimates quietly exceed those numbers but even 20M recoverable is pretty good. So far we are flowing very light 41.5 API crude oil from this zone together with a lot of gas, and with 300k per day. Even since our last RNS we see some increase in gas flow as well, and this is very sustained flow what we see from zone 19 of T-39." "It looks like this zone 19 doesn't really require us to frack it, doesn't really require us to stimulate it, without stimulation it flows at a very nice commercial rate so far." "The flow rates that we see so far means that we will be recovering drilling costs in 8 months or so, and after that every year those wells will be delivering $4-5M worth oil every year as a profit." "This is only about zone 19, on top of zone 19 you have zones 14, 15, zone 9, which we established long term the production tests for years and zones 14 and 15 which are flowing oil right now as we speak so on the top of zone 19 you have other zones capable to flow oil at a commercial rate, so simple taribani development well is going to be very profitable well to our investment." "In T-39 right know we continue testing with 3mm choke and we are flowing 250 barrels a day, and roughly 350k cubic feet of gas per day." "Zone 14 and 15 are flowing, producing oil at the moment, and at some point we'll get back to the market with updated flow rates, but so far what we see is very encouraging." "Now we are testing and we are proving every day as we speak right now that we can have and achieve the commercial rates of flow of oil and gas from 19 and others. We are going to move into a field developing phase as a result of this campaign." "We are re-opening the discussion based on what we see on zone 19 because this well is flowing very nicely and it's very good, now we have a deal with that company to have them fund this well to zone 15 (Niko 1) and now we are re-opening this kind of discussion we want them to fund it all the way down zone 19, so next

Someone really is taking the mick with these 1 share trades lol

Good luck mate....just ignore some of the comments Thom and hopefully you'll get the amount your after or close to it depending on the price at the time

Yep 25+ looking very likely here today

Well in that case I'm taking the day off work because you say news on Thurs....lol Personally I think it will come beginning of next week as 60 day EWT will take us to 1st Sept

"a number of positive suggestions on how they can improve the pace, consistency and content of their communications to all shareholders. In particular this included suggestions on how they could make announcements to the market on the substantial progress they have made on a marginal field acquisition" a suggestion from seadog ..... lol if after all this time a shareholder has to suggest this to the company then something really is amiss

Yep lot's of poster's with hidden agendas and that includes the rampers too - can't wait for this 'transformational' news and can't wait for 28p a share lol

PRIME MINISTER MEETS GENERAL MANAGER OF BRITISH PETROLEUM GEORGIA 2018-08-25 "Georgia is one of the most reliable partners of British Petroleum in the process of project implementation of regional significance" stated Chris Shliter, General Manager of BP Georgia at a meeting with Manuka Bakhtadze, Prime Minister of Georgia today. Discussions were related to large projects implemented in the country by BP, which has invested over 2 billion USD so far. Favourable investment climate of the country, reforms planned by the Government towards inclussive economic growth, facilitation of small and medium enterprises (SME) have been stressed. Parties reviewed the performance of Shah Deniz Stage 2, along with the role of Baku-Supsa and Transcaspian Pipelines for the increased energy security. Prime Minister of Georgia expressed his gratitude to BP for the implementation of large investments and significant projects that led to the employment of almost 6000 people, who are predominantly locals of those regions where BP is implementing its projects. Prime Minister's Press Office

I think the results for T-39 should be at a very good commercial rate and if so this well alone would be transformational for the company. The hope is that T-45 and Dino are also fairly good but T-39 will be the jewel in the crown. With EWT having commenced on 4th July (assuming 60 flow tests) this would take us to sat 1st Sept so possible we get an update from mon 3rd onwards. Reason for 60 days testing hopefully will be to prove to the funder as part of negotiations to fund Niko 1 down to zone 19 (assuming results are good or very good). 60 days required to prove the sustainable flow so fingers crossed we get an update on flow tests and result of negotiations for the funded well down to zone 19. Hopefully not long to wait now gla

Well Dirk be glad your not 500k down like the i.i .....that would be something to whing about! I mean ffs what a waste of a post. I bet 99% of FRR investor's are nursing a healthy loss yet they, like I wait for the eagerly anticipated EWT results which I suggest you do. No reason to suppose they won't be good imo.....

Ffs this is why I stay off bb's when the vultures come out I am not easily panicked into selling like some - in fact I managed to help myself to another million here and there on the drop. Nothings changed here apart from some impatient panicky seller's so no leaks and nothing to suggest that anything other than good news isn't far away. If people can't handle drops like this perhaps best to switch off the phone or computer and think about other thing's. Very happy with my substantial position here

Great post and great research there Mole many thanks

Good post pyro and makes a great deal of sense re the current political landscape. All of this should ultimately benefit FRR and despite the doom and gloom floating around here I am very positive for the next few weeks here and beyond.

Wishful thinking coggy but I like the sound of it ;-)

Worth recapping that in latest interview ZM confirms 3 weeks since EWT started that T-39 well right now was still producing stable flow of 250 bopd and that they are very encouraged by what they have seen since testing commenced. So I see no reason why the results of all 3 wells won't be flowing at a commercial level when the all important results land. The expectation also is that we'll get an update on the discussions taking place to fully fund the Niko 1 well down to zone 19 at the same time.

Posted by someone on ii the other day - a view I share in relation to the publication of the positive WHI note the other day ............. The whole tone is that the resource estimate from NSA in 2005 is understated. I wouldn’t be surprised if NSA are already in this loop re an update to the CPR. Which in my view takes us back to preparing for a reserve declaration at some point - possibly linked to funding it also implies that the original economic model from last year understates the long term value of the field As most holders will have expected the strategic plan will no doubt be re-based - with the likely focus being on Eldari B first, then Eldari B and mainly from single wells. In reality I suspect there will be combinations of approaches dependent on location. It also seems to reinforce the view that the drill techniques are now able to deal with the geology, at least thus far, again crucial for any move on reserves So could we see an updated CPR in the near future? Quite possible in my view

I don't think Frontera would waste their time tweeting this if it was of no relevance - could tie in nicely with the proving up of flows at a decent commercial rate with the imminent EWT results and further funding at an attractive rate to look to taking us beyond 1,000 bopd. Reserve based lending will certainly be possible so this is indeed relevant. As alluded to in latest interview it was mentioned that with testing already well underway the market will be notified of flow results but they are very encouraged by what they have seen so far. Also the statement that this will 'open up the doors and bring in new capital to the company' gives me confidence going forward.

Richard - I was just about to post on the paying off of YA but your first paragraph has saved me the trouble....as far as I'm concerned this was addressed yesterday but yet people here are still querying it!