Member Info for Moleinahole

And finally before I get back to work. This has Malcy bucket list addition written all over it. Should get some more commentary from WHI as well.

Kempey agree its a little vague - but logically it can only be out of our share as the other 50% belongs to GOGC. But as I posted earlier that will be somewhat academic as we will be recovering the costs for a while and you can add the $3m to that pot as well so I think its safe to assume through 2018 and 2019 and probably 2020 (the most productive years of the curve its 100% into the company coffers and we pay out of our share to the investor. Depending on how the cost recovery pool is accounted for the investor may also benefit a bit from that. On the approval that's what I posted earlier I think its finance from an investor and not a farm in hence no approval how we fund the wells is up to us and why I think another reason it may have been constructed as such.

Contra what today shows above anything else is that Frontera have moved forward. We have moved forward in our ability to drill and complete wells on time and on budget and hit the target zones. In the process they continue to obtain valuable logging information which they are now also reprocessing on wells like Niko against previous logging to develop zone 13 as a prospect across the block. We have moved forward in confirming that going to what the prophets of gloom call death spiral finance is no longer the preferred way of funding the business. Where possible shareholder value can now be protected by avoiding them as we get stronger better deals can follow. The two are not unrelated. Success in the geology and execution enables access to finance. Once the death spiral finance fox has been shot the prophets of gloom will need to go and find another company to plague. Its been a bit like watching a high wire act over the last 2 years. A few times we have wobbled and looked like we could fall off. But no we are still on the wire and hopefully we might see a few tricks now we are in the middle of the ring. We have even had the clowns and fire breathers coming on to do a turn while we wait. They have known for a while how this should work out and to their credit the company have opened up the communications during this period to enable the audience to watch and participate in the show. We are not there yet (as the share price shows) but we are still on the wire and looking more stable as a business than we have for a long time which makes the bank holiday a bit more tolerable than if we had no news.

Johnny - consider whether FRR are starting to access funding streams from US "friends". When you combine this with the Georgian delegation trip to US this week the context can broaden quickly. The more friends we have with a financial interest the less likely we are to get interference.

Zeps niko does 15 to 20 bopd zone 9 currently. But that's not too important. But look at the pay size and porosity of T39 and Niko which are quite close together in the field. Niko is not as good as T39 and Niko has been flowed. So it's a satisfactory way to keep taribani going without the withering loss of field % we had with Varang on same well. Shows we have come on since 2015. As Zaza said once we are better capitalised and derisked you can get better deals and investment which is why we did the painful debt restructure in 2017 without which such deals would not be possible.

Zaza has shown that they can attract investment not once now but twice with two institutions. Nether would be investing millions of dollars if the wells flowed sub commercial volumes. Taribani is now on its commercial development phase. It is commercial with oil at $12 barrel cost onshore, 9 month payback per well and good quality sweet crude. If you had to invest in an oil company one which has proven resources and low cost of extraction is attractive to invest. That is the result of the H1 campaign. The business is secure with a steady stream of income. The gas is a different beast and has the capacity to transform the company. That is under test and we shall see why it has gone quiet soon enough. Good day after a tough few weeks here.

Bladey they have never published any investor recently. Makes you wonder could it be Varang even! I don't think it matters what is important is that I think Zaza intends to try and take us forward exiting 2018 with as little dillution as possible and fend off SAOG with some live action in the field. I think taribani is a valuable play but I get the feeling the gas will be the real deal else they would not have given such a high % away on a quick payback well.

It's very like US deals on wells with oil investors. I don't know why they don't name them but never mind. First, i can live with the % but will judge in time whether it was a good deal or not. Seymore on iii is wrong Niko is our highest producing legacy well doing currently 20bopd from zone 9. So we have given up some current production as well. It may be with a fair amount of debt still on the balance sheet we can't get get the better deals. If the investor farms into to more wells in the future it is the basis of a funding for a full field development. So it also blunts arguments from SAOG for the arbitration note the permit approved early by them which may indicate the bigging up of the arbitration was indeed premature. This well could have been funded without a partner so for me the question is what is the accumulating cash going to be used for? Paying off YA in installments or 3d seismic or something else. That's the main reason I could see for doing the deal at this time like this because they are looking to not dillution in the future. Other reason is possibly the real future is in the gas where the cards are once again close to the chest hence driving a hard bargain at Niko was less important than just keeping the campaign going with no dillution as the real value is in the gas.

Well what with the unusual trading patterns and the attempted bear raid from the prophets of gloom maybe this board is getting closer attention than usual. No late spoiler trade today - would be nice if they have finished whoever you are.

Northfields - one of the speculated reasons for the drop is funding/placing todays debate started on the question of the merits of allowing a small player in now to taibani. We know we have to fund the H2 program and we know we have YA to manage over H2 as well either as a one off payment or monthly in cash settlements of $400k or shares. To offset that we have cash starting to arrive from sales. Then we have the possibility of institutional finance (bonds, loans) as well as the final option of using equity or a farmin or jv. So whilst there is no definitive answer the funding question is over played and certainly does not justify the 30% drop we have seen since the actual drilling results have started to arrive in the context of good results and rising oil price and the most important result at UD2 in play. You really are left to wonder what is going on. The damage to sentiment corresponds with the arbitration spoiler for me and the sustained attack that has been launched on the company in its wake when the company did not collapse as some might have expected. The share was remarkably resilient. Increasing the share price at the moment is important to get rid of YA with as little dilution as possible inside the existing headroom. So anyone who thinks trading/shorting doesn't damage companies think again. It can and does on AIM.

And I'll add that my resolve around stuff like that just gets stronger and harder the more pressure the share price is getting put under at the moment.......

If the three wells flow at the modelled rates and we can't get finance on a project with a 9 month payback then we are in trouble! Can't see any reason to let a minnow in and take any % of our hard won resources. A partner on the gas or basin edge or shale play I would have a different view.

Can't see FRR letting anyone (unless they have a lot of capital) into taribani on the cheap like Varang or the chancers Outrider were lining up now we have done all the hard work. Not something I would support at all. If they wanted in it would need to be on a low % and with some thoughts on how we recover our substantial sunk costs. As Zaza said in May the price we can demand goes up the more derisked the projects and the stronger we are in terms of capitalisation.

Right gel different company in Georgia I think. The clay bit also doesn't sound like taribani. There was no activity in taribani in 2015 that matched the description for me - we were waiting on Varang and only doing workovers and shallow gas that year. But their experience locally and with the kit might have come to the attention of Frontera The new completion in taribani was Q1 2016 Holding steady at the moment.

How many AIM listed companies do you know who have been subject of congressional resultions and drawn responses from state agencies? As some say here you don't fight over an empty block. The importance of the meetings for me is the subject area which is directly relevant to Frontera interests given we are also active in Moldova and looking for licenses in Ukraine. If you are talking about business then it's very relevant if you have a well connected US company that your state regulators have decided to threaten with arbitration as a method of extracting some sort of concession. In the Trump era of the deal politico/economics just think there is an accommodation that will be worked here given a bit of time around whatever turns out to be the real bone of contention for the arbitration.

Timster the short answer is yes. Frontera hosted the Georgia government including I believe the 2 who were on the visit at the Wraclaw summit in Poland for dinner. Frontera have friends in the senate and US Congress and recently engaged in lobbying the US government.

Remember we invested in some Akin Gump lobbying (including I believe of the vice President recently) so our case should have been briefed you would hope. That and the Atlantic council connection could get prove a necessary and shrewd investment of time and money.

When. I need a little lift I return to the presentation at the moment as well. Stayed off the meths last night Zib I'm both puzzled and frustrated at where we find ourselves at the moment. However, I've seen with other shares in the past similar squeezes before. Interesting that we didn't get a closing spoiler trade last night and I would say the sell trades reduced in size yesterday as well. They seemed to gravitate at this 10% below 2017 year end close level. It's also pretty much the area that the flash crash post the arbitration leak gravitated to so may indicate an area where there is solid support due to longer term holder averages. If we sustain the flows on the current zones at Dino and T45 then the company will have executed the turnaround. I think we could afford for the flow to drop a little even before the extra zones are added as we are being given a bonus with the oil price rising. Given the attractive onshore cost model the wells are commercial even at much lower oil prices or flow rates. I think the company has turned around but at the moment we have not started to recover the forward momentum. Clearly we need the ancors or Jonah's putting overboard! Let's see how we go today. Encouraging meetings in US with the Georgians after talking like that would you really try one on with one of the few US companies investing in your country?

Wine Free! I'll be in the garage for meths if this carries on too long in place of my whiskey.

Mad - its $2.8m not �. Can't see a major messing about with a few share swaps here. If they come in it would be a cash offer.