Member Info for MisterPositive

Good to know....529 bopd initial flow rate is great....likely to increase lot higher. That will do nicely.

Beauty with FRR is they got a proven resource with Oil flowing, earning them revenue unlike BPC who have yet to drill an expensive Offshore drill. Farm Out talks with NDAs in Frr case is totally different as the Majors can put a value on our resource & future resource Upside. That should form part of their Farm In offer price. FRR testing is more like Appraisal of these wells & the additional zones that have not yet been added to the CPR estimates which surely got to be revised much higher.

Yep, that's the way I read it. Left it open so news could come anytime and catch out these Shorters big time.

They already producing at healthy margins and meeting both: expenses and paying down debt along the way. Can't remember which well it was, but Zaza said Oil flowed naturally to surface without need for any fracking. These reservoirs got good quality crude at 41.5 API...

Great Buying opportunity for anyone still on sidelines. Price won't be staying here for too long. News of deal could come anytime. Also 60 days testing period was from end of May which would have taken us to end of July. So they already been in the extra period before Majors signed the NDAs.

EWT were originally for 60 day period as per RNS, but after the NDA with 2 Majors they decided to do extra time. Most probably after talks with the Majors who would have had an early peek into results and then signing the NDA.

Looks like it.

Nah..,,just load up on FRR....much cheaper option. This could Double near term.

2 Majors with NDA and oil price headed towards $95 would be the perfect storm.

https://oilprice.com/Energy/Oil-Prices/Oil-Could-Jump-To-95-This-Winter.html

Oil Could Jump To $95 This Winter. https://oilprice.com/Energy/Oil-Prices/Oil-Could-Jump-To-95-This-Winter.html

https://www.cnbc.com/2018/09/04/oil-market-tightening-up-very-quickly-and-90-per-barrel.html

Oil market 'tightening up very quickly' and $90 per barrel is in sight, analyst says. https://www.cnbc.com/2018/09/04/oil-market-tightening-up-very-quickly-and-90-per-barrel.html

Has anyone thought how will the 2 majors calculate the price level at which to Farm In or JV stake ? If they were to pay back costs, i.e. our $400m recovery pool, that works out @ 2p per share (400m/15,772m/1.29 fx). That 2p should form part of the pricing in my view at a bare minimum. Any thoughts?

JBG,

Yes, we all have doubts or uncertainties as its the Future we looking at.....which involves risk taking, without which you can forget about making any money. (Risk V Rewards).

First you start SP predictions thread....and then steer conversation towards 'potential bankruptcy'???....sometime in 2020 ???.....really....

Come on dude....folks are not stupid.....lets get through next 3 months developments first before talking 2020.

You brought it on to yourself with these kind of statements.....what response did you expect ?

JBG,

We are in 2018, with significant developments in the next 3-6 months....especially after yesterday's RNS......and you throwing in 'potential bankruptcy' ?

for loans that might be called in 2020 ?.....that is 2 years away. So much can happen before we even get to 2020.

Do you have anything positive to say about ANY company that you post on ?

Yep, JBG...same modus operandi on all other boards too. Debt should long gone by 2020.... Any other dampener ?

Yep 1.437m not that great. But one good RNS can change all of that, frustrating as it might be today.

Agree..

Next leg up tomoz after today's consolidation.

Mick,

Think some New investors got in today after waiting for the drop.

Price has consolidated pretty well today.

Farm-In / JV news will catch out a few.