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I've read a few comment that state that we broke the PSA by not returning 99% of the block
in 2017. So why did they allow this to continue after this time and drag it out ? I for one wouldn't of been invested!
It seem strange to me that arbitration didn't state in their conclusion that by PSA contract had been broken and that 100% of the block should be returned .... why stated frontera still have 1% just for Georgia Rats to issue a 90 day termination!? Just nuts .....
another quality Russian article !
https://jacobinmag.com/2020/03/frontera-resources-georgia-republican-congressmen-russian-interference
Scrap that ... Amount hasn't changed since 5th March
Now showing $35,050K . So money still being spent .... Come on Zaza pull the rabbit out the hat
when I click on the link from the suspended site it created an email to
webmaster@fronteraresources.com rather than brighterir . Wasnt it Zaza's son that kept the site update so very
possibly hes taken offline..
Another article on the EPI site discusses the challenge of recovering historic E&P data in Central Europe, data being something FRR has in abundance we are led to believe. There is a rather striking picture of a gusher in Romania in the 1850s and a map of the various production hotspots around Central Europe: https://www.epigroup.com/2020/01/24/finding-lost-data/
"Finding ‘lost’ data in the world’s oldest petroleum basins.
One of the key challenges to finding and unlocking remaining hydrocarbon resources, in particular, mature petroleum basins, is finding, accessing and modernising ‘lost’ or legacy datasets and nowhere is this truer than in Central and Eastern Europe, home to some of the world’s first commercial oil wells.
Picture: Example of 1850s production in Romania
Gehrig Schultz, COO Geoscience at EPI, has more than 30 years in the oil industry in particular across Europe, South America & Africa.
In 2019, Gehrig received a commendation from the State Geology Service in the Republic of Georgia for recovering two data sets in different locations that were thought to be lost. He also recently chased down a lost 3D survey in South America.
Another issue is knowing how to use the data after finding it because it may be in an unconventional format, use an oddball coordinate system so that spies couldn’t figure out the data or simply have differing measurement systems over time.
Some of the problems we’ve faced are:
Trying to locate wells based on a 1930s flat-earth coordinate projection that used the NW corner of the third step of the city’s Cathedral stairs as its point of origin. It was especially tough when we discover that the stairs were moved and modified when the road was widened in the 1970s.
Twisted and stretched ‘secret’ coordinates on wells and seismic lines when doing a study of an oil field that was in three countries. Each country had its own ‘secret’ coordinate transformation.
Production measurements made after the separator by one operator, before the separator by the next and then the third measured at the tank and averaged the production by the number of wells pumping.
One of the biggest challenges that existing operators and new entrants (evaluating opportunities in the upcoming licence round) face often is;
Data stored in a variety of locations;
Paper copies only
Old formats, non-standard units
Poor condition
Not recorded on available data listings
Difficult to access
Expensive
Over the past 25 years, EPI has helped numerous clients find, access and modernise data and critically have developed long term relationships with in-country experts. These relationships have enabled us to find and access data that was considered ‘lost’ (or not known to have been acquired), on behalf of our clients.
Data we have helped find, access and modern for our clients include:
2D / 3D seismic (including original field records)
Gravity, magnetics
Well logs and reports
Core material
Production informa
During APPEX 2020 in London, EPI Group together with Georgia Oil and Gas organised a Lunch & Learn to present one of the most exciting plays in onshore Europe. The event that was held at the Fox on Green pub was attended by over 50 attendees representing over 40 companies.
Photo - see caption
Georgia’s exploration and production basins share the world-class Maikop source
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rock with Azerbaijan’s mega-fields in the east and the North Caucasus fields. An even more intriguing (and little known) fact is that at the end of the Soviet period, Georgia was producing 70,000 BOPD per day. Adding to Georgia’s romance, mid-tier AIM explorer, Block Energy has recently quadrupled production on its West Rustavi field where one of the wells tested at 1,100 BOPD. Georgia Oil and Gas is one the country’s most respected oil and gas companies and largest license holders.
A data room at EPI Group’s office in Cobham will be open to all companies who wish to further view the available opportunities that Georgia has to offer starting on April 15th. The data room is free of charge.
Please contact andrea.miscia@epigroup.com to organise all visits.
Original article link
Source: EPI Group
Wasn't FRR break even costs $12 per barrel ? Surely we look more attractive then ever.... We can under cut most suppliers ;)
TILS bloody 8 bagger in the last 8days...
That was a short 5 years Plonker ! .
Hopefully you'll take your own advice Bluenotred... plonker!
Also showing up ....
LOBBYING
$200,000 (2019)
Just checked Open Secrets .org and have found that donation from Frontera have increase by another $20K +
Zaza is putting his money where his mouth is!
I'm pretty sure that Zaza and Steve would like to see a big dividend paid to compensate for the last
20 years!
posted on Brian Babin Twitter
Hope you spoke with @realDonaldTrump about Georgia trying to steal vast oil and gas from Texas Oil company Frontera Resources after they have spent over $400million in sink costs ? #Trump2020Landslide