Member Info for Moleinahole

Gopies total rubbish. A prudent business that is investing in cash generative assets needs to push debt out as long a term it can get over as long a period as it can. The key issue whether it's your mortgage or a business is the ability to service and access funds. This deal the company are in control of how they play it and as long as they have the cash it's not a problem. The higher production we are now getting can easily find that amount.

This has always been the plan but it was always contingent on success in the current campaign. The Niko deal was the lead indication that they were going down this road with YA after Zaza reconfirmed at the may meet it was one of the options. Overall while it's pressured the share price at the end of the day YA have got their money back and have made a reasonable but not obscene return. The company must now be just at the turnaround point where cash from 500 to 750 bopd is coming in and with ud2 still to come. It helps alot with other institutional funders having them dealt with and further opens the path to future institutional funding sources at better terms.

It's a good RNS. The company have done extremely well to execute the debt restructure and recapitalisation of the company and get 4 wells drilled and under test. They are now in a position where value can be created and the dillution if and when needed can be spent on value enhancing assets not funding general expenses. It's a good deal at even if they get shares in the future it looks like at market rate. But if that was the case there would be no need to give them to YA any institution could take them! Question is whether the strange trades stop now or whether we are about to see someone come in and buy the balance. At last Zaza is getting a bit of space in which to operate the company and options on funding. The prophets of gloom are not going Tomlin's the end of the arrangement at all.

What deadline has been missed? There are no current deadlines I'm aware of but you do have ongoing work program which has a natural end of operations and some likely incoming corporate news. Do you seriously think the contractual YA preference share date of 16th June or accounts at 30th June will be missed? Will be a long day on here probably lucky I'm at meetings or travelling all day. Over to you cheesie might be time for a bit of humour.!

Hi Gary business trip might be back next week as well just got back from a meal on the docks tonight. Used to spend alot of time here 10 years ago. Seems the boy racers are out tonight in their hot rods smoking the tyres around the city centre. Must admit when I looked in last night it was grim reading. You would have thought we had drilled 4 confirmed dusters and secured no investment in the next well or secured highly dillutive funding and no directors or senior management have bought. Instead there is currently a thought from many that the wells have all failed and the only way forward is some highly dillutive funding. Given the board have bought and converted at a higher average and institutions have bought in one with a lockin and the other funding a well to the tune of $3m it's difficult to reconcile the two views with an entirely negative view. PI sentiment is obviously down you can see that in the charts but it keeps gravitating to this level so it's proving a pretty solid support.

Evening guys away on business at the moment in ipswich! The company may have an idea what is going on here but it looks to me very like when the vendor shares were disbursed in 2016/17. The trade was finally reported as a massive final trade. But before that we had a long period of transfers. Maybe the broker is shifting small chunks to sell in lots which are part of a final larger transaction. For me it is a toss up as to whether it's part of YA exit or some broker shares. Remember the small brokers got their balance at a lower price and dropped under 3% after which they were not visible. The larger balance of brokers is a significant $5m+ if settled in full so the trade are not big enough for that. Personally don't think they reflect at all on the operations. This is part of a larger game around historic debt which needs to play out.

Evening guys away on business at the moment in ipswich! The company may have an idea what is going on here but it looks to me very like when the vendor shares were disbursed in 2016/17. The trade was finally reported as a massive final trade. But before that we had a long period of transfers. Maybe the broker is shifting small chunks to sell in lots which are part of a final larger transaction. For me it is a toss up as to whether it's part of YA exit or some broker shares. Remember the small brokers got their balance at a lower price and dropped under 3% after which they were not visible. The larger balance of brokers is a significant $5m+ if settled in full so the trade are not big enough for that. Personally don't think they reflect at all on the operations. This is part of a larger game around historic debt which needs to play out.

Fire - parking the gas development is your impression which is fair enough. I have to say I've not not read or heard anyone from the company that says that. 1. The oil was always the short term primary object since 2016 and UD2 was added late to the program once they were confident they could unblock the well. 2. What they have said is that the well is now on extended test. 3. V#18 was in that presentation for the conference as a possible piece of work but has never featured in any firm plans. 4. The field development plan envisages 35 new wells each costing over $5m and that is only post seismic. Once they have the answers from UD2 then they can decide what to do next. Until the well is quantified the follow on plans for a) pipeline and b) the 3d seismic c) the possibility of a jv are moot. If you have a jv partner coming in you may not even bother with the pipeline and 3d seismic as you would wait for them to share the cost. 5. Gas is highly political. As for what SN and Zaza may or may not have said in the past. I would say that the sudden interest in Georgian assets (just as the gas infrastructure comes on line) might indicate they are on to something here. But by putting himself forward to raise the funds we needed for this campaign and meet people to air their grievances it is very different from past communications. People now want even more information. But having seen the reaction of people first hand I am really not surprised Zaza has changed his approach on the expectations around the gas. Consequently, I genuinely do not think you can draw a conclusion one way or the other at the moment. Personally I retain a positive view. As I have posted before there was a marked change in comms early April which coincided with both the rework at UD2 and the arbitration shenanigans leak. You can clearly trace in the chart a line from that date in April and no matter what news has been released it has made no difference to the chart if you look at it. So releasing some incomplete UD2 news would undoubtably have a similar effect in my opinion or possibly open up a further window for traders and shorters - even the oil flows are questionned and micro analysed. People will just have to wait as there is no reported date for UD2. The gas is clearly not as predictable as is the first time they have worked on a high pressured and deep soviet gas well in Georgia and they are still doing it systematically, safely and on a tight budget - remember they have still only spent about $1m on it! Right back outside to do some more work and rev up the (gas) barbecue for tea!

You could interpret that comment as meaning FRONTERA won't need to drill another gas well as we have already proved what was needed with the one we have and the next one will be done by someone else. The two are not incompatible. Over the past few months we have seen the re-emergence of the SAOG who for years discouraged gas exploration and yet the arrival of drillers and large oil companies seeking acerage. Lets explore your comment on the oil. Well I don't think it will be a slow process of expanding the oil and if that flows as modelled then we will be north of here just on the oil. Once the technique is proven at the same meeting where you have focused on the dead batting of gas news he talked about the economics of the oil and how the times lines on that can come in 1 to 2 years with running multiple rigs as there were doing when they operated in Azer. I also think people are now reaping the rewards of the badgering on the gas I witnessed at the January meeting. Zaza is doing exactly what I would do when people keep shouting and demanding dates - quietly getting on with it and not having a gun held at my head over this date or that date.

Would you care to elaborate on why you think that or it is just a guess? We have had many clever people here over last couple of years predicting the company was going to fold and we wouldn't see .10 let alone .42 or .90p. On the basis you have plucked .90 out of thin air you could make up any number.

Nope - its being walked down day on day. You can go an see similar things at SOU and HNR and a multitude of other stocks. If your worried you are free to email, phone or contact the company yourself or the nomad. I'm not as apart from the share price there is not a lot one could ask that they will respond on. I notice you have deleted your history. Why?

Gourock - personally I don't and would never ask price sensitive questions - there are plenty on this board who know me and will have been at same presentations/meetings. I would not expect them to answer them so I would not ask. You can however gather a lot of background information if you ask simple mainly why questions and how long does that take or how much does it cost to do that type of thing and stay away from the detailed when and what type of questions on current activities. Once you have that you can re-read the RNS and Presentations which are actually very detailed and go off and do your own research. Several of us have politely inquired about unusual trading patterns in the past. Its not a subject I would expect them to respond on based on my past experience. First, the trades will be being done by a third party - be they YA or a vendor or shorters or whoever. So while the company may have a view on what is happening to the share register that is not something I would expect them to reveal to anybody and they won't. The company equally may have an idea that YA or someone involved in future funding is doing something. Obviously the company would be aware that a third party could be doing something but that would definitely be price sensitive so I would not expect them to say anything about that either. The volume of these trades is actually very low so that is a further reason why I would not wish to trouble anyone. If we were getting 100m a day or the price was crashing then that would be a totally different context and I would be more inclined to ask again if some news could be put out via RNS as soon as possible. Again I would actually not expect them to respond to that but sometimes the email just registers concern. You might call informal discussion unprofessional for me they are the best opportunity to measure people as opposed to a scripted power point presentation and tease out the odd piece of detail. Zaza and Levan are both pretty careful what they say based on my own experiences and I would say have become more guarded since January. We are very lucky to be getting regular communications and the opportunity to pose questions face to face on what is effectively a quarterly basis. I have been extremely lucky to have visited the operations and met the staff working on the ground to get an even better insight into what I have invested what for me is a substantial investment. If you have the chance go to the events not least you will meet a lot of the folk from here and III and be able to put faces to names. Bedex - I don't think the pattern has changed I think its pretty much the same but your probably becoming more focussed on it and with lower volumes its getting easier to spot the trades.

You need to get yourself down to the events the company put on and speak to him yourself and listen to what he has to say! He has plenty to be getting on with without us emailing him but I would be pretty sure that yellow jersey will have been noting peoples concerns here.

Prod and the carlsburg moment when the extended flow test result of Ud2 arrives after they are paid in full.

Prod I spoke to Zaza about it last year. I think it's relatively straightforward in terms on engaging a company with the fleet of vehicles and kit. The lead time might be landowner permission but should not be a big issue. The logistics of doing the surveying around some of the bits will take time due to the terrain but most is pretty open and accessible. Cost will be the main constraint. Time is not an issue as it's to feed into unplanned future drills or revised CPR. If they are doing it in 2018 it will need funding sooner rather than later not a huge cost if the focus is well defined but still needs funds. Everything's easier with cash coming in and commercial assets to fund. So maybe they are just waiting for the coffers to fill up a bit from oil sales.which should start to see some cash this month from T45.

They definitely still going strong! The clue is the ate 3m sell at this .42p level last night How about Frontera getting one over on YA fr a change by using the overdue vendor debts to suppress the price, execute the buyback of the preference shares at a low price in full.

There will be news in June. The pattern of RNS suggests there will be a mix of funding, operations and corporate. We also have a new non executive to be appointed and results due. Whether it's the news people want or expect is a different question. But would be surprised if the big ticket items not addressed over the month.

Prod they could release news at any time to update flow rates on the oil or gas. In addition the significant news is the funding package and mix for the summer work program. At the moment we have an unfilled gap from June to November of field activity. The revisits to the oil wells after 60 day flow tests would indicate they could be back in taribani with a workover rig and pumping crew in July/August. Which leaves that odd gap to November. The pump team in particular would end up with a gap unless the rework at taribani starts later. If ud2 is commercial they could progress the pipeline. Equally additional 3d seismic to firm up the gas. A revisits to v18 well looks less likely but not impossible and would fit logistically after a pipeline was laid and work at taribani before Niko. There is of course always the possibility of progress with a partner on the gas to shape up that program. Bit of research for the weekend would be seeing where our rig might be operating over the summer as I'm sure it's their availability that would push us out to November as the original plan was another 3 wells in Q4 (though could just be building up some cash reserves and Taribani is a fraction later than originally planned hence the campaign spills over into 2019. 2019 is the most important year in dealing with the old loan notes due in 2020. They need by then to be adding wells regularly so need the service providers fully committed by then. So into an interesting month on both flow rates and finance and plans for H2. Also good read on the heritage link thanks for that.

Fun on here tonight. Totally disagree on PJ. Calling .0006p for Frontera and arrogantly dismissing anyone who questions a chart? Or even entertainig the slightest possibility that news can impact a share? Totally wrong on price of oil and totally wrong on Frontera but hides when the charts don't compute.

Prod - I asked about Steve at the meet in may and he is fine - I think any rumours around him are not correct. And Pyro weather forcasting as well. Spoilt here we are and a blue day. One final observation - all T20 trades from when results were expected would now have expired and had to be rolled over or closed. Market makers aren't daft and will have been aware of that squeezing open long positions as hard as they can.