5p party in 3 years13 Dec 2018 19:27
The dynamics of the company has certainly changed as I looked back over a few years of my posting. Interesting to note that most of the quality LTH posters have always stated that this would be a stepped rises and not a instant riches (although years later than most predictions). I still hold to the opinion that we will rise only when we see facts and not just projections, twitter pictures or jam tomorrow statements as tomorrow never arrives.
SP is where it is as its a traders share and many are happy to take a few % and play the swings. Added that the market is still remembering the old failure promises days of FRR. The large seller has no logic as I often tried a dummy sells around these appearing and those that did not go to NT were at a slightly better price? So either he has a terrible broker or there is a transfer agreement in place. We will never know .
So those that are expecting an instant multi bagger are realising that this will not happen and some are leaving.
What will raise this as we were expecting great things when the directors debt was transferred to shares at 1p.
As a LTH I have seen many negatives attacking this share and suffered dilution after dilution but hindsight you can see the attempted manipulation and during a very hard times in the O&G industry the only defence to the BoD was issue more and more shares to keep the business afloat. ZaZa has brought a fresh and better way of managing the business and real progress has been made.
The closer we get to the goal the more the opposition played dirty from GG, YA and Hope/Outrider. Probably hoping the delay would force FRR to do a deal or go under with the protagonists picking up pieces and selling them off to the many sitting on the fence looking at the Georgian opportunity.
So we have BH on a profit share MOU, access to funds (60M new financing package – no easy thing to do and would have taken months to agree) to pay off debt and money to accelerate well development and BH are key here. This is not plan B but a positive step to increase the value of FRR. We still have a major in waiting as the Nomad would be all over this monitoring developments and any backtracking by them would force a RNS.
I expect a number of RNS’s over the next few weeks from Outrider news, AGM, 2019 Field development plan, Debt payment, Gas well plan (if not the major) to the news of the major coming on board.
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