Member Info for regdik

Someone l would not name but l have worked on projects with but not bp. He has spent time in this part of the world

Bugs that would mean a total buy out of FRR including all LTO's (Moldova). Can't see that happening as Socar are only really interested in the Gas and not so much the oil. IF the gas is as big (but will require big investment) then I would let the big boys take the lead on this but hopefully retain a minor interest/royalty deal. 10p is tempting but I think ZaZa has bigger plans for FRR. I agree with SB earlier post that the gas well is U2. Some I know well sent me the clip asking was I still a SH.

No I'm Spartacus (or I could be SB clone)

Sorry bugs but just back from a good day at golf. Is the guy in the video the ex FRR employee and that this is an old UB2 gas flare or as some say Kazakhstan site. Can't see an ex employee allowed back on site to take a new video.

Is that all...…… There is much more out there than that. I'm off playing golf today in the sun but get IVY and Bugsy to look at an old Georgian sit they have been on.

LTO,s are purchased for many 100 millions with any well being sunk. FRR has seismic info from 20 years of drilling all over the block so can't understand your one well theory otherwise NSA would not have been able to come up supporting the original CPR. I'm comfortable as are my colleagues that enough information should exist to claim a commercial field. And yes bp have invested in blocks without a drill bit hitting the dirt.

FG � I agree with the baby steps in the next few months and into 2019. However, if you look at the ramp up based on the last ZaZa presentation the steps get bigger quite quickly. One thing that is at a kilter with the presentation is the delay in the ii funded well. It can only mean that the drilling company has prior commitments or other thing come into play during this period. One thing I disagree with Dirk going on about one gas well not proving a field. The amount of data around seismic testing and the evidence of gas during the oil well drill will be more than enough to get a major interested. Many fields are sold for much less.

If you were going to invest millions and the field had a history of silting would you not insist on extended testing/flowing to ensure that you de-risk any issues of flow falling off. The same with the gas.

timelines - do not get hung up on 60/90/120 days. This is O&G prospecting/developing a field with potential but loaded with geographic difficulties (not forgetting politics/funding/debt). Ask yourself are their commercial possibilities in Georgia - NSA confirm that their is product and GG/other O/G companies now seem to agree. Geographic difficulties - seem to be on the road to be overcome with the help of Dustin and new drilling methods Politics - from total denial to we want to stick our fingers into the pie. Funding - funding seems to be sorted apart from YA (but is ZaZa going to use the 3M from investor to clear YA and use the well revenue to repay this for Dino2 - hence the November dates?). Debt - if FRR can get to 1000bpd then it becomes workable and booking of reserves will give access to new funding. just my view GLA

Guy's I've said this more than once - big oil are not interested in multi dribble well development - it is not their business model. BP, Exxon or any of the big 10 will only be interested in gas as that is the future. When I was in BP they were selling off richer fields than Georgia - so unless this is political sponsored by the US around blocking the Russian influence in Europe you can be assured ANY $$$ interest will be in gas. So the wave of outside interest we are seeing now will not be in multi 400b per day wells (although profitable) but in the growing demand for gas in the world not only in the EU. Read BP future energy plan and its all about gas and not oil. 204tcm of gas is outstanding if proven and this would have made all of the majors sit up and take a closer look at Georgia (even 1% of this would be of interest). GLA.

Lets say a Georgian came into your office a few months/weeks ago clutching data and flow rates of three wells and was looking for 3mil for his best prospect with short term payback and good long term profit prospects. 1- would you just give him the money and sit back or 2- ring your broker to get as many cheap shares before the news and final results were issued. Humm looked at coggys book and the page was missing so what would you do.