Member Info for offtheball

" This does now look set to go on a run " I hope your correct Aubree..........

Not asking much for a 10 bagger here to get us started in the grand scheme of things then.

Come on Zaza, We've waited long enough..... It's time to release these ewts, Surely that FRR Express has done another loaded trip or two of the black gold ?

Got to be something positive to report in an rns.

Love the confidence to put a cheeky Lol in there Coggy :-)

Can't see them re drilling T-45 or Dino-2 to a lower depth, They are old soviet wells at the end of the day.

I stand by my question of where the 1000 bopd was coming from and after receiving pelters, It's looking like T-39 and Niko-1 could be the main contribution to that figure.

I still think it's highly unlikely that figure is achievable by year end but you can never say never I suppose.

Two successful wells from five could be a pretty low strike rate but may still bring good revenue into the coffers.

I've been prepared for this scenario for a few weeks now, So there's little that can surprise me or catch me out.
( Unless of course they release the motherload of all EWT rns's, It's still possible although I think unlikely )

Long play on the cards here I feel......

GLA

This bb is in a league of it's own lol

A cause for laughter I suppose as if I didn't, I'd be crying with my head in my hands....

At the bell threw me....

2018-08-06 16:17:45 0.30 8,000,000 0.28 0.30 Buy 24,000 O

2018-08-06 16:37:49 0.28 12,500,000 0.29 0.30 Sell 35,500 O

Another productive day.

12.5 million sell showing here ?

Nothing to add either Freeatlast, Although if I had I would need transparency to even consider it.
You'd think us pi's are being unreasonable by asking the company to release news that they have already provided a timeline for by their own admission ?
No idea what is going on here, It's all a bit of a charade.

Let's have something in writing confirming these projections before getting carried away, Us investors have our strategy all wrong.

We should have pooled together and provided the 3 million for a 60% return on our investment until the 3 million was paid back.

30% ongoing after initial payback. In the meantime, Most of us shareholders sit on a loss......

Hope it works out for you Skyisthelimit

Truth of the matter is, It will all come out when the bod decide to inform shareholders. Until then, We will endure Rampers, Balanced / Realist and Derampers points of view. Nothing new, Us as investors can't change where we are.

Some will hold on to what positivity they have remaining as they are that far underwater they hope for something however small to come to fruition.

I sincerely hope we don't see a raise of finance this year if the wells overall production figures deplete. I simply couldn't see the market withstanding that.

Niko-1 Funding

On 24 May 2018, the Company entered into an agreement with an unrelated institutional investor to secure funding for the planned operations at Niko-1 well.

Pursuant to the agreement, The investor will provide up to $3 million investment, to be disbursed in two equal tranches by 1 September 2018 and by 15 October 2018, respectively, in order to fund the Niko-1 well work program to be commenced in November 2018.

In consideration for this financing, The investor will receive share in the production from the Niko-1 well in the following proportion: 60% of the well production from the completion of the work program until recovery of its investment, And 30% of the well production thereafter.

There must be terms involved in this deal. Also, The capital isn't released until 1st September 18 and 15th October 18, So this is why they didn't drill Niko-1 well straight after T-39 as someone had already questioned.

What the terms of the deal are though, We'll never know.

Thanks 5p and Lordlash, I'll get a look over the presentation tonight. Sustainable flow is the important part here and even if the flow rates aren't the airy fairy sky looking projections, It can only be seen as a positive moving forward. It would be progress at least.

The II may well have a clause written into the contract regarding the funding based on the current well results ?

Thanks 5p, Your quite correct that sustained flow would put a lot of fears to rest. I understand the wells tailing off, I was more looking for what would be the minimum bopd to justify a well as commercial ? I have absolutely no idea wether it be 10,50,100,150,200 bopd.

I also realise that since the initial flows disclosed via rns on both wells, We have no evidence of what the wells are producing.

I don't think there's any doubts there is an abundance of oil and gas here, That would just be naive. Without any tangible results though, Very little has changed in my view.

Does anyone know what the minimum output would be in bbls/d to be classed as commercial ?

I find it incomprehensible that zones 14 and 15 could tail off that much after 75 and 63 days EWT respectively after the admission on the 25th July podcast that they were producing commercial flows. ( Again, Not reported officially )

Dino-2 - Stabilised Flow Rate 315 bbls/d reported 21-05-18

The intention is an approximate 60 day EWT starts on zone 14 & 15 reported 21-05-18

The Company is also considering the perforation and stimulation of Zone 13 in addition to the original Zone 9, 14 and 15 targets. The market will be updated about the final decision in due course.

The 60 days expired on Friday 20th July, Albeit an approximate time frame. Now 72 days and there has been no update on what is happening with Zone 9 and possibly 13.

I don't think the market has been told we would see flow rates from Zones 14 and 15 EWT ? I'm happy to be told otherwise though.

My understanding is we await an update regarding the revisit of Zones 9 and possibly 13. With the information provided by previous rns, This has not happened yet !

This needs to happen to progress on to an all zone EWT.

JMO on the progress of Dino-2 well.

T-45 - Surface Fluid Flow Rate 383 bbls/d reported 20-02-18

T-45 - Stabilised Flow Rate 270 bbls/d reported 08-05-18

The intention is an approximate 60 day EWT starts on zone 14 & 15 reported 08-05-18

The Company is also considering the perforation and stimulation of Zone 13 in addition to the original Zone 9, 14 and 15 targets. The market will be updated about the final decision in due course.

The 60 days expired on Saturday 7th July, Albeit an approximate time frame. Now 86 days and there has been no update on what is happening with Zone 9 and possibly 13.

I don't think the market has been told we would see flow rates from Zones 14 and 15 EWT ? I'm happy to be told otherwise though.

My understanding is we await an update regarding the revisit of Zones 9 and possibly 13. With the information provided by previous rns, This has not happened yet !

This needs to happen to progress on to an all zone EWT.

JMO on the progress of T-45 well.

I've never said it does matter when he invested Star. I agree that anyone regardless of the investment time can contribute on here.
I'm sure Rainbow Rider realises we were only two weeks away from monetising gas in December and that was without any spin from our ceo. Seven months later and it's plugged but that's not all bad news.
The 60 day ewt and notification to the market on the planned work to be completed on T-45 and Dino-2 is now well overdue but there is no need to worry about that either as zaza appeared on a podcast and is excited about the results. Just not excited enough to tell the market just yet.
May well be a reason why mad as hatters investors are selling though, Just a thought.

Rainbow Rider, How long have you been invested in FRR ?